Brokers Offer Predictions for Visa Inc.’s Q1 2024 Earnings (NYSE:V)

Visa Inc. (NYSE:V) – Wedbush issued their Q1 2024 earnings per share estimates for Visa in a report released on Wednesday, November 8th. Wedbush analyst M. Katri forecasts that the credit-card processor will post earnings per share of $2.23 for the quarter. Wedbush has a “Outperform” rating and a $270.00 price objective on the stock. The consensus estimate for Visa’s current full-year earnings is $9.87 per share. Wedbush also issued estimates for Visa’s Q2 2024 earnings at $2.22 EPS, Q4 2024 earnings at $2.44 EPS and FY2024 earnings at $9.18 EPS.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 24th. The credit-card processor reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.10. Visa had a return on equity of 50.13% and a net margin of 52.90%. The company had revenue of $8.61 billion during the quarter, compared to the consensus estimate of $8.56 billion. During the same period last year, the company earned $1.93 earnings per share. The firm’s revenue was up 10.6% compared to the same quarter last year.

V has been the subject of several other research reports. Barclays decreased their target price on Visa from $285.00 to $278.00 and set an “overweight” rating for the company in a research note on Monday, October 30th. Citigroup raised their price objective on Visa from $273.00 to $275.00 in a research note on Wednesday, July 26th. Royal Bank of Canada raised their price objective on Visa from $265.00 to $290.00 in a research note on Wednesday, July 26th. Credit Suisse Group raised their price objective on Visa from $265.00 to $275.00 in a research note on Wednesday, July 26th. Finally, Jefferies Financial Group raised their price objective on Visa from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $275.67.

Visa Trading Down 0.9 %

NYSE V opened at $241.64 on Thursday. The business has a 50 day simple moving average of $238.41 and a 200 day simple moving average of $235.44. Visa has a one year low of $200.02 and a one year high of $250.06. The stock has a market capitalization of $449.90 billion, a P/E ratio of 29.15, a P/E/G ratio of 1.63 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.45 and a quick ratio of 1.49.

Institutional Investors Weigh In On Visa

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hibernia Wealth Partners LLC bought a new position in Visa during the 3rd quarter valued at approximately $25,000. West Tower Group LLC bought a new position in Visa during the 2nd quarter valued at approximately $30,000. Financial Freedom LLC bought a new position in Visa during the 4th quarter valued at approximately $32,000. Nalls Sherbakoff Group LLC raised its position in Visa by 545.5% during the 3rd quarter. Nalls Sherbakoff Group LLC now owns 142 shares of the credit-card processor’s stock valued at $33,000 after purchasing an additional 120 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new position in Visa during the 1st quarter valued at approximately $35,000. Institutional investors own 81.35% of the company’s stock.

Insider Buying and Selling

In related news, insider Rajat Taneja sold 15,800 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $250.01, for a total transaction of $3,950,158.00. Following the completion of the transaction, the insider now directly owns 232,112 shares in the company, valued at $58,030,321.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Chairman Alfred F. Kelly, Jr. sold 40,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $236.14, for a total value of $9,445,600.00. Following the completion of the transaction, the chairman now directly owns 139,854 shares in the company, valued at approximately $33,025,123.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rajat Taneja sold 15,800 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $250.01, for a total value of $3,950,158.00. Following the completion of the transaction, the insider now owns 232,112 shares of the company’s stock, valued at $58,030,321.12. The disclosure for this sale can be found here. Insiders sold a total of 72,100 shares of company stock worth $17,368,639 over the last ninety days. 0.22% of the stock is owned by corporate insiders.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 9th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.86%. This is a boost from Visa’s previous quarterly dividend of $0.45. The ex-dividend date is Wednesday, November 8th. Visa’s payout ratio is presently 21.71%.

About Visa

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.