Visa (NYSE:V) Issues Quarterly Earnings Results, Hits Expectations

Visa (NYSE:V) posted its earnings results on Tuesday. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42, Briefing.com reports. The firm had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 52.04% and a net margin of 54.72%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same period last year, the firm earned $2.16 EPS.

Visa Stock Up 1.2 %

Shares of NYSE:V traded up $3.14 during midday trading on Thursday, hitting $257.31. 4,644,468 shares of the stock were exchanged, compared to its average volume of 6,884,909. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. Visa has a 52-week low of $227.68 and a 52-week high of $290.96. The business’s fifty day simple moving average is $270.97 and its two-hundred day simple moving average is $274.39. The company has a market capitalization of $470.60 billion, a PE ratio of 28.45, a P/E/G ratio of 1.85 and a beta of 0.95.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.81%. Visa’s dividend payout ratio is 23.24%.

Analysts Set New Price Targets

A number of brokerages have issued reports on V. UBS Group increased their price target on Visa from $315.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Royal Bank of Canada decreased their price target on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research note on Wednesday. Wedbush increased their price target on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Macquarie reaffirmed an “outperform” rating and set a $300.00 price target on shares of Visa in a research note on Wednesday. Finally, Jefferies Financial Group decreased their price target on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $304.77.

Insider Buying and Selling

In related news, Director Lloyd Carney sold 909 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Visa news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the transaction, the director now directly owns 2,591 shares in the company, valued at $713,950.05. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the transaction, the insider now owns 17,894 shares in the company, valued at $4,959,322.10. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

About Visa

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.