Visa Inc. (V) Given Buy Rating at Jefferies Group LLC
Jefferies Group LLC reiterated their buy rating on shares of Visa Inc. (NYSE:V) in a research note released on Tuesday. The brokerage currently has a $125.00 price target on the credit-card processor’s stock, up from their prior price target of $112.00.
Other equities research analysts also recently issued reports about the company. Vetr upgraded Visa from a hold rating to a buy rating and set a $100.12 target price for the company in a report on Tuesday, June 27th. Instinet lifted their target price on Visa from $105.00 to $120.00 and gave the stock a buy rating in a report on Friday, July 21st. Wells Fargo & Company reiterated a market perform rating and issued a $100.00 target price (up from $87.50) on shares of Visa in a report on Saturday, July 22nd. Citigroup Inc. reiterated a buy rating and issued a $115.00 target price (up from $100.00) on shares of Visa in a report on Monday, July 24th. Finally, Zacks Investment Research downgraded Visa from a buy rating to a hold rating in a report on Thursday, July 27th. Two analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $110.66.
Shares of Visa (NYSE V) opened at 107.54 on Tuesday. The stock has a 50 day moving average price of $105.24 and a 200-day moving average price of $97.71. The company has a market capitalization of $245.88 billion, a PE ratio of 39.99 and a beta of 0.93. Visa has a 52 week low of $75.17 and a 52 week high of $109.26.
Visa (NYSE:V) last issued its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.05. The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.36 billion. Visa had a return on equity of 30.95% and a net margin of 36.53%. The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.69 earnings per share. Equities research analysts expect that Visa will post $3.43 EPS for the current year.
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In other news, Director Mary B. Cranston sold 10,400 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $103.32, for a total transaction of $1,074,528.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Tullier Kelly Mahon sold 29,772 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $100.91, for a total value of $3,004,292.52. Following the transaction, the executive vice president now directly owns 17,360 shares in the company, valued at approximately $1,751,797.60. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Amarillo National Bank raised its stake in shares of Visa by 45.1% during the 3rd quarter. Amarillo National Bank now owns 8,398 shares of the credit-card processor’s stock valued at $883,000 after purchasing an additional 2,611 shares during the period. Beacon Financial Group raised its stake in shares of Visa by 2.8% during the 3rd quarter. Beacon Financial Group now owns 24,877 shares of the credit-card processor’s stock valued at $2,618,000 after purchasing an additional 674 shares during the period. Neville Rodie & Shaw Inc. raised its stake in shares of Visa by 4.4% during the 3rd quarter. Neville Rodie & Shaw Inc. now owns 116,642 shares of the credit-card processor’s stock valued at $12,275,000 after purchasing an additional 4,941 shares during the period. Eqis Capital Management Inc. raised its stake in shares of Visa by 4.2% during the 3rd quarter. Eqis Capital Management Inc. now owns 20,131 shares of the credit-card processor’s stock valued at $2,119,000 after purchasing an additional 815 shares during the period. Finally, Curbstone Financial Management Corp raised its stake in shares of Visa by 88.3% during the 3rd quarter. Curbstone Financial Management Corp now owns 6,100 shares of the credit-card processor’s stock valued at $642,000 after purchasing an additional 2,860 shares during the period. 81.65% of the stock is currently owned by hedge funds and other institutional investors.
Visa Company Profile
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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