Seaport Res Ptn Weighs in on Visa Inc.’s FY2024 Earnings (NYSE:V)

Visa Inc. (NYSE:V) – Analysts at Seaport Res Ptn lowered their FY2024 EPS estimates for shares of Visa in a research note issued on Tuesday, April 23rd. Seaport Res Ptn analyst J. Cantwell now expects that the credit-card processor will earn $9.90 per share for the year, down from their prior estimate of $9.95. The consensus estimate for Visa’s current full-year earnings is $9.89 per share. Seaport Res Ptn also issued estimates for Visa’s Q4 2024 earnings at $2.55 EPS.

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, topping analysts’ consensus estimates of $2.43 by $0.08. The business had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the company posted $2.09 EPS.

A number of other brokerages have also recently issued reports on V. KeyCorp increased their target price on shares of Visa from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, January 8th. TD Cowen initiated coverage on shares of Visa in a research report on Thursday, April 11th. They set a “buy” rating and a $320.00 target price for the company. Susquehanna raised their price objective on shares of Visa from $300.00 to $326.00 and gave the company a “positive” rating in a research report on Friday, January 26th. Raymond James raised their price objective on shares of Visa from $287.00 to $311.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Finally, Macquarie raised their price objective on shares of Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $302.58.

Visa Trading Up 0.1 %

Shares of Visa stock opened at $275.16 on Friday. The stock has a market capitalization of $505.33 billion, a P/E ratio of 30.74, a price-to-earnings-growth ratio of 1.90 and a beta of 0.96. The company has a quick ratio of 1.45, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The company has a 50-day simple moving average of $279.32 and a 200 day simple moving average of $264.05. Visa has a 12-month low of $216.14 and a 12-month high of $290.96.

Visa Announces Dividend

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

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total transaction of $2,228,128.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Visa news, CAO Peter M. Andreski sold 2,615 shares of Visa stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total value of $729,271.20. Following the transaction, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at $1,365,954.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total transaction of $2,228,128.50. The disclosure for this sale can be found here. Insiders have sold 18,965 shares of company stock valued at $5,256,352 in the last 90 days. 0.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of V. Altshuler Shaham Ltd bought a new position in Visa in the third quarter valued at approximately $25,000. Livelsberger Financial Advisory bought a new position in Visa in the fourth quarter valued at approximately $25,000. Westend Capital Management LLC bought a new position in Visa in the first quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of Visa in the fourth quarter valued at approximately $32,000. Finally, Nalls Sherbakoff Group LLC raised its holdings in shares of Visa by 545.5% in the third quarter. Nalls Sherbakoff Group LLC now owns 142 shares of the credit-card processor’s stock valued at $33,000 after purchasing an additional 120 shares during the last quarter. Institutional investors own 82.15% 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.