Visa Inc. Expected to Post FY2024 Earnings of $9.95 Per Share (NYSE:V)

Visa Inc. (NYSE:V) – Seaport Res Ptn raised their FY2024 earnings per share estimates for Visa in a research report issued on Monday, April 15th. Seaport Res Ptn analyst J. Cantwell now forecasts that the credit-card processor will post earnings of $9.95 per share for the year, up from their previous estimate of $9.94. The consensus estimate for Visa’s current full-year earnings is $9.89 per share.

Other equities research analysts also recently issued reports about the company. TD Cowen initiated coverage on Visa in a report on Thursday, April 11th. They issued a “buy” rating and a $320.00 price target on the stock. Keefe, Bruyette & Woods increased their price objective on Visa from $305.00 to $315.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Wells Fargo & Company raised their target price on Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Robert W. Baird lifted their price objective on Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Citigroup raised their target price on Visa from $296.00 to $306.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. Five analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $298.43.

Visa Price Performance

NYSE:V opened at $272.69 on Tuesday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $500.80 billion, a P/E ratio of 31.38, a P/E/G ratio of 1.87 and a beta of 0.96. Visa has a 12 month low of $216.14 and a 12 month high of $290.96. The business’s 50-day moving average is $279.80 and its 200 day moving average is $262.56.

Visa (NYSE:V) last released its quarterly earnings data on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.07. The firm had revenue of $8.63 billion during the quarter, compared to analyst estimates of $8.55 billion. Visa had a return on equity of 50.02% and a net margin of 53.92%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.18 earnings per share.

Hedge Funds Weigh In On Visa

Several large investors have recently bought and sold shares of V. Alaethes Wealth LLC boosted its position in Visa by 0.4% during the fourth quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock valued at $2,302,000 after purchasing an additional 37 shares during the last quarter. Jessup Wealth Management Inc boosted its position in Visa by 0.7% during the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock valued at $1,410,000 after purchasing an additional 37 shares during the last quarter. Garden State Investment Advisory Services LLC boosted its position in Visa by 1.8% during the fourth quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock valued at $571,000 after purchasing an additional 38 shares during the last quarter. Holistic Financial Partners boosted its position in Visa by 2.0% during the fourth quarter. Holistic Financial Partners now owns 1,975 shares of the credit-card processor’s stock valued at $514,000 after purchasing an additional 39 shares during the last quarter. Finally, GoalVest Advisory LLC boosted its position in Visa by 3.4% during the fourth quarter. GoalVest Advisory LLC now owns 1,217 shares of the credit-card processor’s stock valued at $317,000 after purchasing an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In other Visa news, insider Rajat Taneja sold 36,546 shares of the company’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $270.20, for a total transaction of $9,874,729.20. Following the transaction, the insider now directly owns 232,112 shares in the company, valued at $62,716,662.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Rajat Taneja sold 36,546 shares of the stock in a transaction on Friday, January 19th. The stock was sold at an average price of $270.20, for a total value of $9,874,729.20. Following the sale, the insider now directly owns 232,112 shares in the company, valued at $62,716,662.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $150,833.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,511 shares of company stock worth $15,131,081. Insiders own 0.19% of the company’s stock.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Thursday, February 8th. Visa’s dividend payout ratio is presently 23.94%.

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.