Visa (NYSE:V) Releases Quarterly Earnings Results, Hits Expectations

Visa (NYSE:V) released its earnings results on Tuesday. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.42, Briefing.com reports. Visa had a net margin of 54.72% and a return on equity of 52.04%. The business had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same period last year, the company earned $2.16 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis.

Visa Price Performance

V stock traded down $0.43 during trading on Thursday, hitting $253.74. The company had a trading volume of 8,559,853 shares, compared to its average volume of 6,912,482. The firm has a market capitalization of $464.08 billion, a price-to-earnings ratio of 28.45, a P/E/G ratio of 1.85 and a beta of 0.95. The business has a 50 day moving average of $270.97 and a 200 day moving average of $274.39. Visa has a fifty-two week low of $227.68 and a fifty-two week high of $290.96. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s payout ratio is currently 23.24%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on V shares. Oppenheimer lifted their price target on shares of Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. TD Cowen reduced their target price on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research report on Wednesday. Evercore ISI dropped their price target 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. Macquarie restated an “outperform” rating and issued a $300.00 price target on shares of Visa in a research note on Wednesday. Finally, Robert W. Baird lifted their price target on shares of Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. Six equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average price target of $304.77.

Insider Buying and Selling

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