Visa Inc. (V) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of Visa Inc. (NYSE:V) from a hold rating to a buy rating in a research note released on Tuesday. They currently have $93.00 price target on the credit-card processor’s stock.
According to Zacks, “Visa’s strategic acquisitions and alliances, technology upgrades, effective marketing efforts and strong balance sheet bode well for long-term growth. The acquisition of Visa Europe is expected to open vast business opportunity for the company in the region and provide it greater scale and diversified business. The U.S. consumer growth remains strong and is likely to continue boosting Visa’s revenues in the future. The recent agreement with Paypal is also slated to increase transaction volume for Visa. In three of the last four quarters, the company has posted positive earning surprise ith an average beat of 1.87%. However, weaknesses in China, Brazil and other oil-based economies, a stronger U.S. dollar and global economic uncertainty are expected to dampen cross-border revenues. Litigation overhang and high client incentives are other headwinds.”
Other research analysts also recently issued research reports about the company. Vetr downgraded Visa from a strong-buy rating to a buy rating and set a $85.82 price objective for the company. in a research note on Wednesday, June 29th. Sanford C. Bernstein reissued a buy rating on shares of Visa in a research report on Wednesday, June 15th. Oppenheimer Holdings Inc. increased their target price on shares of Visa from $85.00 to $90.00 and gave the company a buy rating in a research report on Friday, June 10th. Jefferies Group reissued a buy rating on shares of Visa in a research report on Tuesday, July 5th. Finally, Goldman Sachs Group Inc. reissued a buy rating and set a $86.00 target price on shares of Visa in a research report on Monday, July 18th. Four research analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $88.69.
Shares of Visa (NYSE:V) opened at 82.96 on Tuesday. The stock’s 50 day moving average is $81.81 and its 200 day moving average is $78.97. Visa has a 12 month low of $66.12 and a 12 month high of $83.79. The firm has a market cap of $195.78 billion, a PE ratio of 35.26 and a beta of 0.95.
Visa (NYSE:V) last released its quarterly earnings data on Thursday, July 21st. The credit-card processor reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.03. Visa had a return on equity of 22.36% and a net margin of 38.72%. The company earned $3.63 billion during the quarter, compared to the consensus estimate of $3.67 billion. Analysts forecast that Visa will post $2.79 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Friday, August 19th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.68%. Visa’s dividend payout ratio (DPR) is presently 24.35%.
Hedge funds have recently modified their holdings of the stock. Quantitative Systematic Strategies LLC increased its stake in Visa by 240.4% in the first quarter. Quantitative Systematic Strategies LLC now owns 13,126 shares of the credit-card processor’s stock worth $1,007,000 after buying an additional 9,270 shares during the last quarter. Lodestar Investment Counsel LLC IL increased its stake in Visa by 50.2% in the first quarter. Lodestar Investment Counsel LLC IL now owns 8,305 shares of the credit-card processor’s stock worth $635,000 after buying an additional 2,776 shares during the last quarter. Saddle Road Partners LLC increased its stake in Visa by 8.8% in the first quarter. Saddle Road Partners LLC now owns 11,381 shares of the credit-card processor’s stock worth $870,000 after buying an additional 916 shares during the last quarter. ST Germain D J Co. Inc. increased its stake in Visa by 33.5% in the first quarter. ST Germain D J Co. Inc. now owns 10,430 shares of the credit-card processor’s stock worth $798,000 after buying an additional 2,615 shares during the last quarter. Finally, Bridges Investment Management Inc. increased its stake in Visa by 0.6% in the first quarter. Bridges Investment Management Inc. now owns 74,568 shares of the credit-card processor’s stock worth $5,007,000 after buying an additional 433 shares during the last quarter. Hedge funds and other institutional investors own 80.08% of the company’s stock.
Visa Inc is a payments technology company. The Company is engaged in operating a processing network, VisaNet, which facilitates authorization, clearing and settlement of payment transactions across the world. The Company provides its services to consumers, businesses, financial institutions and governments in more than 200 countries and territories for electronic payments.
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