Seaport Res Ptn Comments on Visa Inc.'s FY2024 Earnings (NYSE:V)

Visa Inc. (NYSE:V - Free Report) - Investment analysts at Seaport Res Ptn boosted their FY2024 earnings estimates for shares of Visa in a research note issued to investors on Monday, April 15th. Seaport Res Ptn analyst J. Cantwell now anticipates that the credit-card processor will post earnings per share of $9.95 for the year, up from their previous forecast of $9.94. The consensus estimate for Visa's current full-year earnings is $9.89 per share.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.34 by $0.07. Visa had a net margin of 53.92% and a return on equity of 50.02%. The business had revenue of $8.63 billion during the quarter, compared to analysts' expectations of $8.55 billion. During the same quarter last year, the company posted $2.18 earnings per share. The business's quarterly revenue was up 9.3% on a year-over-year basis.

Several other equities analysts have also recently issued reports on V. Susquehanna boosted their price objective on Visa from $300.00 to $326.00 and gave the company a "positive" rating in a report on Friday, January 26th. Monness Crespi & Hardt assumed coverage on Visa in a research report on Wednesday, December 20th. They set a "neutral" rating on the stock. Barclays increased their price target on Visa from $304.00 to $319.00 and gave the stock an "overweight" rating in a research report on Monday, January 29th. Wedbush boosted their price objective on Visa from $270.00 to $280.00 and gave the company an "outperform" rating in a research report on Friday, January 26th. Finally, Citigroup upped their target price on Visa from $296.00 to $306.00 and gave the stock a "buy" rating in a research note on Thursday, January 18th. Five investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $296.87.

Visa Stock Performance

V traded up $0.06 on Tuesday, reaching $271.34. 8,236,720 shares of the stock were exchanged, compared to its average volume of 5,799,888. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.45 and a quick ratio of 1.45. The company's 50-day moving average price is $280.04 and its 200 day moving average price is $262.19. The firm has a market capitalization of $498.32 billion, a PE ratio of 31.32, a PEG ratio of 1.91 and a beta of 0.96. Visa has a fifty-two week low of $216.14 and a fifty-two week high of $290.96.

Institutional Investors Weigh In On Visa

Large investors have recently added to or reduced their stakes in the business. Trifecta Capital Advisors LLC increased its holdings in Visa by 1.8% during the 1st quarter. Trifecta Capital Advisors LLC now owns 21,122 shares of the credit-card processor's stock worth $5,895,000 after purchasing an additional 376 shares during the period. Occidental Asset Management LLC grew its position in shares of Visa by 7.9% during the first quarter. Occidental Asset Management LLC now owns 13,413 shares of the credit-card processor's stock worth $3,743,000 after buying an additional 980 shares in the last quarter. Independence Bank of Kentucky increased its stake in shares of Visa by 9.0% during the first quarter. Independence Bank of Kentucky now owns 21,757 shares of the credit-card processor's stock worth $6,072,000 after buying an additional 1,803 shares during the period. OneAscent Financial Services LLC raised its holdings in Visa by 1.3% in the first quarter. OneAscent Financial Services LLC now owns 6,435 shares of the credit-card processor's stock valued at $1,796,000 after acquiring an additional 85 shares in the last quarter. Finally, Webster Bank N. A. lifted its stake in Visa by 1.7% in the first quarter. Webster Bank N. A. now owns 43,445 shares of the credit-card processor's stock worth $12,125,000 after acquiring an additional 709 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Peter M. Andreski sold 2,615 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total transaction of $729,271.20. Following the completion of the transaction, the chief accounting officer now directly owns 4,898 shares in the company, valued at approximately $1,365,954.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Ryan Mcinerney sold 8,150 shares of the firm's stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total transaction of $2,228,128.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Peter M. Andreski sold 2,615 shares of the business's stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the sale, the chief accounting officer now owns 4,898 shares in the company, valued at approximately $1,365,954.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,511 shares of company stock worth $15,131,081. Company insiders own 0.19% of the company's stock.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Thursday, February 8th. Visa's payout ratio is presently 23.94%.

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.