Visa (NYSE:V) Reports Earnings, Beats Estimates of $0.11 EPS
Visa (NYSE:V) released its results on Thursday. The credit card processor reported EPS of $1.81 for the quarter, beating the Zacks consensus estimate of $1.70 by $0.11, MarketWatch Earnings reports. The company posted revenue of $7.06 billion for the quarter, versus a consensus estimate of $6.79 billion. Visa had a net margin of 51.07% and a return on equity of 37.62%. The company’s revenue for the quarter increased by 24.1% compared to the same quarter last year. During the same quarter last year, the company posted EPS of $1.42.
Shares of Stock of visas traded at $17.76 on Friday, reaching $223.91. The stock had a trading volume of 804,920 shares, compared to an average volume of 10,336,529. The company’s 50-day moving average price is $209.89 and its two-hundred-day moving average price is of $222.34. The company has a debt ratio of 0.58, a quick ratio of 1.75 and a current ratio of 1.75. Visa has a fifty-two week minimum of $190.10 and a fifty-two week maximum of $252.67. The stock has a market capitalization of $431.10 billion, a P/E ratio of 39.67, a price-to-earnings growth ratio of 1.89 and a beta of 0.97.
In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the company in a trade on Tuesday, November 30. The shares were sold at an average price of $195.27, for a total transaction of $1,757,430.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Also, the president ryan mcineney sold 11,193 shares of the company in a trade on Thursday, December 9. The shares were sold at an average price of $210.00, for a total transaction of $2,350,530.00. Disclosure of this sale can be found here. Insiders sold 31,386 shares of the company valued at $6,485,801 in the past 90 days. 0.21% of the shares are held by insiders.
A number of institutional investors have recently changed their positions in V. OLD Mission Capital LLC purchased a new equity stake in Visa in Q3 worth approximately $373,000. Morgan Stanley increased its holdings of Visa shares by 1.3% in the second quarter. Morgan Stanley now owns 41,708,994 shares of the credit card processor worth $9,752,396,000 after buying an additional 533,415 shares in the last quarter. Comerica Bank increased its holdings of Visa shares by 80.7% in the third quarter. Comerica Bank now owns 867,709 shares of the credit card processor worth $200,803,000 after buying 387,444 additional shares in the last quarter. Finally, Keudell Morrison Wealth Management increased its holdings of Visa shares by 1.7% in the third quarter. Keudell Morrison Wealth Management now owns 12,330 shares of the credit card processor worth $2,747,000 after buying 205 more shares in the last quarter. 80.83% of the shares are currently held by hedge funds and other institutional investors.
A number of equity research analysts have weighed in on the stock recently. Piper Sandler raised her price target on Visa shares from $275.00 to $283.00 in a report on Friday. Royal Bank of Canada lowered its price target on Visa shares from $297.00 to $284.00 and set an “outperform” rating for the company in a Wednesday, Oct. 27 report. UBS Group assumed coverage for Visa shares in a report on Thursday, November 18. They set a “buy” rating and a price target of $275.00 for the company. Robert W. Baird cut his price target on Visa shares from $305.00 to $290.00 in a report on Friday. Finally, Zacks Investment Research downgraded Visa shares from a “buy” rating to a “hold” rating and set a price target of $227.00 for the company. in a report on Thursday, October 28. Five research analysts gave the stock a hold rating and nineteen gave the company a buy rating. According to MarketBeat.com, Visa currently has an average rating of “Buy” and a consensus target price of $266.92.
Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information between the global network of consumers, merchants, financial institutions, businesses, strategic partners and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions and global automated teller machines (ATMs).
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