Visa Inc. (V) Given New $112.00 Price Target at Jefferies Group LLC
Visa Inc. (NYSE:V) had its price target lifted by Jefferies Group LLC from $104.00 to $112.00 in a research report released on Tuesday morning, Marketbeat reports. The brokerage currently has a buy rating on the credit-card processor’s stock.
A number of other analysts have also issued reports on the stock. CIBC lifted their price objective on shares of Visa from $95.00 to $100.00 and gave the company an outperform rating in a research note on Wednesday, April 26th. Zacks Investment Research upgraded shares of Visa from a hold rating to a buy rating and set a $106.00 price objective on the stock in a research note on Monday, May 29th. Deutsche Bank AG lifted their price objective on shares of Visa from $124.00 to $150.00 and gave the company a buy rating in a research note on Monday, July 10th. Vetr lowered shares of Visa from a hold rating to a sell rating and set a $92.84 price objective on the stock. in a research note on Monday, June 5th. Finally, Cowen and Company reiterated an outperform rating and set a $105.00 price objective (up previously from $100.00) on shares of Visa in a research note on Sunday, April 23rd. Five research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $101.97.
Shares of Visa (NYSE:V) opened at 99.60 on Tuesday. The firm has a 50 day moving average of $95.30 and a 200-day moving average of $90.04. Visa has a 12 month low of $75.17 and a 12 month high of $100.49. The stock has a market capitalization of $229.72 billion, a P/E ratio of 49.70 and a beta of 0.93.
Visa (NYSE:V) last posted its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.36 billion. Visa had a net margin of 28.78% and a return on equity of 29.14%. The business’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 earnings per share. Analysts forecast that Visa will post $3.37 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Friday, August 18th will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Wednesday, August 16th. Visa’s payout ratio is currently 33.00%.
Visa announced that its board has authorized a stock repurchase program on Thursday, April 20th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the credit-card processor to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
In related news, Vice Chairman Ellen Richey sold 31,260 shares of the company’s stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $91.94, for a total value of $2,874,044.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company’s stock.
Large investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Visa during the fourth quarter worth $1,335,803,000. Viking Global Investors LP increased its stake in shares of Visa by 739.1% in the fourth quarter. Viking Global Investors LP now owns 4,846,485 shares of the credit-card processor’s stock worth $378,123,000 after buying an additional 4,268,933 shares during the last quarter. Lone Pine Capital LLC increased its stake in shares of Visa by 180.3% in the fourth quarter. Lone Pine Capital LLC now owns 6,551,477 shares of the credit-card processor’s stock worth $511,146,000 after buying an additional 4,213,802 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of Visa by 41.4% in the first quarter. Clearbridge Investments LLC now owns 9,145,672 shares of the credit-card processor’s stock worth $812,776,000 after buying an additional 2,677,533 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Visa by 441.9% in the fourth quarter. Renaissance Technologies LLC now owns 2,594,500 shares of the credit-card processor’s stock worth $202,423,000 after buying an additional 2,115,700 shares during the last quarter. 81.92% of the stock is owned by institutional investors.
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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