Visa (NYSE:V) Announces Quarterly Earnings Results

Visa (NYSE:V) released its quarterly earnings results on Tuesday. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.08, Briefing.com reports. The business had revenue of $8.78 billion for the quarter, compared to analyst estimates of $8.62 billion. Visa had a net margin of 53.92% and a return on equity of 50.02%. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.09 earnings per share.

Visa Trading Up 0.9 %

Shares of NYSE:V traded up $2.45 during mid-day trading on Wednesday, reaching $276.56. 3,803,638 shares of the company were exchanged, compared to its average volume of 5,848,722. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a market cap of $507.91 billion, a price-to-earnings ratio of 31.86, a P/E/G ratio of 1.88 and a beta of 0.96. The firm’s 50-day simple moving average is $279.49 and its 200 day simple moving average is $263.90. Visa has a 1 year low of $216.14 and a 1 year high of $290.96.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s dividend payout ratio is currently 23.94%.

Analysts Set New Price Targets

V has been the topic of a number of research analyst reports. Evercore ISI boosted their price objective on shares of Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. Wells Fargo & Company boosted their price objective on shares of Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Keefe, Bruyette & Woods boosted their price objective on shares of Visa from $305.00 to $315.00 and gave the company an “outperform” rating in a report on Friday, January 26th. TD Cowen initiated coverage on shares of Visa in a report on Thursday, April 11th. They set a “buy” rating and a $320.00 price objective on the stock. Finally, KeyCorp boosted their price objective on shares of Visa from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, January 8th. Five equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $302.43.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total value of $2,228,128.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total value of $2,228,128.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Peter M. Andreski sold 2,615 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total transaction of $729,271.20. Following the completion of the transaction, the chief accounting officer now directly owns 4,898 shares of the company’s stock, valued at approximately $1,365,954.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,965 shares of company stock valued at $5,256,352. Company insiders own 0.19% of the company’s stock.

About Visa

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.