Visa (NYSE:V) Announces Earnings Results, Hits Estimates

Visa (NYSE:V) released its quarterly earnings results on Tuesday. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.42, Briefing.com reports. Visa had a net margin of 53.87% and a return on equity of 51.23%. The company had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same period in the prior year, the firm earned $2.16 earnings per share. Visa’s revenue was up 9.6% on a year-over-year basis.

Visa Price Performance

Shares of V stock traded down $2.88 on Tuesday, hitting $264.83. 8,074,257 shares of the stock traded hands, compared to its average volume of 6,856,072. The firm has a market cap of $484.36 billion, a price-to-earnings ratio of 29.64, a PEG ratio of 1.85 and a beta of 0.95. Visa has a 52 week low of $227.68 and a 52 week high of $290.96. The firm has a 50 day simple moving average of $271.77 and a two-hundred day simple moving average of $274.50. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40.

Insider Activity

In other news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the sale, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Visa news, Director Lloyd Carney sold 909 shares of Visa stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the sale, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the sale, the insider now owns 17,894 shares in the company, valued at $4,959,322.10. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on V. Evercore ISI decreased their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. TD Cowen began coverage on shares of Visa in a research note on Thursday, April 11th. They set a “buy” rating and a $320.00 target price for the company. UBS Group raised their target price on shares of Visa from $315.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Bank of America reiterated a “neutral” rating and set a $297.00 price target (down previously from $305.00) on shares of Visa in a report on Wednesday, July 10th. Finally, Piper Sandler began coverage on shares of Visa in a report on Monday, May 13th. They set an “overweight” rating and a $322.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $304.72.

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.