Visa Inc. (NYSE:V) Forecasted to Earn FY2024 Earnings of $9.95 Per Share

Visa Inc. (NYSE:V) – Equities researchers at Seaport Res Ptn raised their FY2024 earnings estimates for shares of Visa in a note issued to investors on Monday, April 15th. Seaport Res Ptn analyst J. Cantwell now anticipates that the credit-card processor will post earnings of $9.95 per share for the year, up from their prior estimate of $9.94. The consensus estimate for Visa’s current full-year earnings is $9.89 per share.

Visa (NYSE:V) last announced its quarterly earnings data on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.07. Visa had a return on equity of 50.02% and a net margin of 53.92%. The business had revenue of $8.63 billion for the quarter, compared to analysts’ expectations of $8.55 billion. During the same period in the previous year, the business posted $2.18 EPS. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year.

Other equities research analysts have also recently issued reports about the company. Barclays upped their price target on Visa from $304.00 to $319.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. Keefe, Bruyette & Woods upped their price target on Visa from $305.00 to $315.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Royal Bank of Canada upped their price target on Visa from $290.00 to $309.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. KeyCorp upped their price target on Visa from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, January 8th. Finally, Susquehanna upped their price target on Visa from $300.00 to $326.00 and gave the company a “positive” rating in a research report on Friday, January 26th. Five investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $296.87.

Visa Trading Up 0.0 %

Shares of Visa stock opened at $271.34 on Tuesday. Visa has a 52-week low of $216.14 and a 52-week high of $290.96. The stock’s 50-day simple moving average is $279.93 and its 200 day simple moving average is $262.49. The stock has a market capitalization of $498.32 billion, a P/E ratio of 31.22, a P/E/G ratio of 1.91 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.45 and a current ratio of 1.45.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.77%. The ex-dividend date was Thursday, February 8th. Visa’s dividend payout ratio is currently 23.94%.

Insiders Place Their Bets

In other news, insider Rajat Taneja sold 36,546 shares of the stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $270.20, for a total transaction of $9,874,729.20. Following the completion of the sale, the insider now owns 232,112 shares of the company’s stock, valued at $62,716,662.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Ryan Mcinerney sold 8,150 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total transaction of $2,228,128.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rajat Taneja sold 36,546 shares of the stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $270.20, for a total value of $9,874,729.20. Following the sale, the insider now directly owns 232,112 shares of the company’s stock, valued at approximately $62,716,662.40. The disclosure for this sale can be found here. Insiders sold a total of 55,511 shares of company stock valued at $15,131,081 over the last quarter. 0.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Visa

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hibernia Wealth Partners LLC bought a new position in shares of Visa during the third quarter valued at approximately $25,000. Altshuler Shaham Ltd bought a new position in shares of Visa during the third quarter valued at approximately $25,000. Livelsberger Financial Advisory bought a new position in shares of Visa during the fourth quarter valued at approximately $25,000. Westend Capital Management LLC bought a new position in shares of Visa during the first quarter valued at approximately $25,000. Finally, O Brien Wealth Partners LLC bought a new position in shares of Visa during the fourth quarter valued at approximately $32,000. Institutional investors own 82.15% of the company’s stock.

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.