Brokerages expect Visa Inc (NYSE:V) to announce sales of $5.70 billion for the current quarter, Zacks Investment Research reports. Twelve analysts have made estimates for Visa’s earnings, with the lowest sales estimate coming in at $5.66 billion and the highest estimate coming in at $5.74 billion. Visa posted sales of $5.24 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.8%. The firm is scheduled to announce its next earnings report after the market closes on Tuesday, July 23rd.
According to Zacks, analysts expect that Visa will report full year sales of $22.75 billion for the current financial year, with estimates ranging from $22.65 billion to $22.89 billion. For the next fiscal year, analysts anticipate that the business will post sales of $25.26 billion, with estimates ranging from $24.77 billion to $25.89 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Visa.
Visa (NYSE:V) last announced its quarterly earnings results on Wednesday, April 24th. The credit-card processor reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.07. The business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.46 billion. Visa had a net margin of 51.34% and a return on equity of 40.56%. The business’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.11 EPS.
Several research firms have weighed in on V. Robert W. Baird set a $182.00 target price on shares of Visa and gave the company an “outperform” rating in a report on Wednesday, May 8th. Wedbush restated an “outperform” rating and set a $65.00 target price (up from $60.00) on shares of Walker & Dunlop in a report on Wednesday, July 3rd. Zacks Investment Research downgraded shares of Zai Lab from a “buy” rating to a “hold” rating in a report on Saturday, June 15th. Wells Fargo & Co raised their target price on shares of Apollo Global Management from $38.00 to $42.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Bank of America raised their target price on shares of Visa from $177.00 to $192.00 and gave the company a “buy” rating in a report on Monday, June 17th. Two investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $183.43.
Shares of V traded down $0.41 during trading hours on Friday, reaching $180.33. The company had a trading volume of 7,195,300 shares, compared to its average volume of 7,894,071. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.58. The firm has a 50 day moving average of $170.22. Visa has a 12-month low of $121.60 and a 12-month high of $181.35. The stock has a market capitalization of $357.91 billion, a P/E ratio of 39.12, a price-to-earnings-growth ratio of 2.03 and a beta of 0.96.
In related news, EVP William M. Sheedy sold 75,676 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $165.24, for a total value of $12,504,702.24. Following the sale, the executive vice president now directly owns 300,114 shares of the company’s stock, valued at $49,590,837.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.17% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lowe Wealth Advisors LLC lifted its position in Visa by 114.7% during the second quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 86 shares in the last quarter. Highwater Wealth Management LLC acquired a new position in Visa during the fourth quarter valued at approximately $33,000. Essex Investment Management Co. LLC acquired a new position in Visa during the fourth quarter valued at approximately $33,000. Hexavest Inc. acquired a new position in Visa during the second quarter valued at approximately $40,000. Finally, Ironwood Financial llc lifted its position in Visa by 67.5% during the fourth quarter. Ironwood Financial llc now owns 335 shares of the credit-card processor’s stock valued at $44,000 after buying an additional 135 shares in the last quarter. 80.97% of the stock is currently owned by institutional investors and hedge funds.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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