Visa (NYSE:V) Posts Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Visa (NYSE:V) posted its quarterly earnings data on Tuesday. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13, Briefing.com reports. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the business posted $2.33 EPS.

Visa Trading Down 0.1 %

Visa stock opened at $289.89 on Friday. Visa has a 12-month low of $232.99 and a 12-month high of $296.34. The firm has a market capitalization of $528.27 billion, a price-to-earnings ratio of 29.79, a P/E/G ratio of 2.00 and a beta of 0.96. The firm has a 50 day moving average of $280.53 and a 200 day moving average of $273.50. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.59 per share. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.81%. Visa’s payout ratio is presently 21.38%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on V shares. BMO Capital Markets increased their target price on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday. Morgan Stanley lifted their price target on Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Royal Bank of Canada boosted their price objective on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Susquehanna increased their target price on Visa from $326.00 to $339.00 and gave the company a “positive” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $320.07.

Visa Company Profile

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.