Visa Inc. Expected to Post FY2024 Earnings of $9.92 Per Share (NYSE:V)

Visa Inc. (NYSE:V) – Investment analysts at William Blair reduced their FY2024 earnings estimates for Visa in a research report issued to clients and investors on Wednesday, April 24th. William Blair analyst C. Kennedy now expects that the credit-card processor will earn $9.92 per share for the year, down from their prior estimate of $9.98. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Visa’s current full-year earnings is $9.89 per share.

V has been the topic of several other research reports. Wedbush raised their price objective on shares of Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday. KeyCorp raised their target price on Visa from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, January 8th. Barclays lifted their price objective on Visa from $304.00 to $319.00 and gave the company an “overweight” rating in a report on Monday, January 29th. Evercore ISI lifted their price target on Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. Finally, UBS Group lifted their price objective on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $302.58.

Visa Price Performance

V stock opened at $274.58 on Friday. The firm has a 50-day moving average of $279.24 and a two-hundred day moving average of $264.33. The company has a current ratio of 1.40, a quick ratio of 1.45 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $504.27 billion, a PE ratio of 30.68, a P/E/G ratio of 1.90 and a beta of 0.96. Visa has a one year low of $216.14 and a one year high of $290.96.

Visa (NYSE:V) last announced its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The firm had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. During the same quarter in the prior year, the firm posted $2.09 EPS. Visa’s revenue was up 9.9% compared to the same quarter last year.

Hedge Funds Weigh In On Visa

Several large investors have recently bought and sold shares of V. Trifecta Capital Advisors LLC grew its stake in Visa by 2.7% in the third quarter. Trifecta Capital Advisors LLC now owns 20,176 shares of the credit-card processor’s stock valued at $4,641,000 after acquiring an additional 536 shares during the period. Fifth Third Wealth Advisors LLC grew its position in shares of Visa by 54.0% in the third quarter. Fifth Third Wealth Advisors LLC now owns 5,621 shares of the credit-card processor’s stock valued at $1,293,000 after purchasing an additional 1,970 shares in the last quarter. Bellecapital International Ltd. grew its position in shares of Visa by 74.1% in the third quarter. Bellecapital International Ltd. now owns 2,917 shares of the credit-card processor’s stock valued at $671,000 after purchasing an additional 1,242 shares in the last quarter. Founders Financial Securities LLC grew its position in Visa by 5.7% during the third quarter. Founders Financial Securities LLC now owns 11,948 shares of the credit-card processor’s stock worth $2,748,000 after buying an additional 649 shares in the last quarter. Finally, Leonard Rickey Investment Advisors P.L.L.C. grew its position in Visa by 9.2% during the third quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 2,568 shares of the credit-card processor’s stock worth $591,000 after buying an additional 216 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Transactions at Visa

In related news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the transaction, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Ryan Mcinerney sold 8,150 shares of the company’s stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the sale, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The disclosure for this sale can be found here. Insiders have sold a total of 19,874 shares of company stock worth $5,506,827 in the last 90 days. Corporate insiders own 0.19% of the company’s stock.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Thursday, May 16th. Visa’s dividend payout ratio is currently 23.24%.

Visa Company Profile

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.