Visa Inc. Forecasted to Post FY2024 Earnings of $9.92 Per Share (NYSE:V)

Visa Inc. (NYSE:V) – William Blair cut their FY2024 earnings per share (EPS) estimates for Visa in a report issued on Wednesday, April 24th. William Blair analyst C. Kennedy now forecasts that the credit-card processor will post earnings of $9.92 per share for the year, down from their prior estimate of $9.98. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Visa’s current full-year earnings is $9.89 per share.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The firm had revenue of $8.78 billion for the quarter, compared to analyst estimates of $8.62 billion. During the same period in the previous year, the company posted $2.09 earnings per share. The company’s quarterly revenue was up 9.9% compared to the same quarter last year.

A number of other equities research analysts also recently weighed in on the company. Macquarie lifted their price objective on Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday. Evercore ISI lifted their price objective on Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. UBS Group boosted their target price on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday. Royal Bank of Canada boosted their target price on Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Wedbush boosted their target price on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $302.58.

Visa Trading Down 0.2 %

Shares of V opened at $274.52 on Friday. Visa has a 12-month low of $216.14 and a 12-month high of $290.96. 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 firm has a market capitalization of $504.16 billion, a price-to-earnings ratio of 30.67, a P/E/G ratio of 1.89 and a beta of 0.96. The stock’s 50-day moving average price is $279.24 and its 200 day moving average price is $264.52.

Institutional Investors Weigh In On Visa

Hedge funds have recently bought and sold shares of the company. Westend Capital Management LLC acquired a new stake in Visa during the first quarter worth approximately $25,000. Livelsberger Financial Advisory acquired a new stake in Visa during the fourth quarter worth approximately $25,000. Altshuler Shaham Ltd acquired a new stake in Visa during the third quarter worth approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in Visa during the fourth quarter worth approximately $32,000. Finally, Frank Rimerman Advisors LLC acquired a new stake in Visa during the fourth quarter worth approximately $33,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Visa

In other news, Director Lloyd Carney sold 909 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Lloyd Carney sold 909 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $150,833.68. The disclosure for this sale can be found here. Insiders sold a total of 19,874 shares of company stock worth $5,506,827 in the last three months. Insiders own 0.19% of the company’s stock.

Visa Dividend Announcement

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

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.