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

Visa (NYSE:V) posted its earnings results on Tuesday. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42, Briefing.com reports. Visa had a return on equity of 51.23% and a net margin of 53.87%. The firm had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same period last year, the firm earned $2.16 EPS. The firm’s revenue was up 9.6% compared to the same quarter last year.

Visa Price Performance

NYSE V traded down $2.92 during trading on Tuesday, reaching $264.79. 8,012,426 shares of the company traded hands, compared to its average volume of 6,856,072. The stock’s 50 day moving average price is $271.77 and its two-hundred day moving average price is $274.50. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. The company has a market cap of $484.29 billion, a price-to-earnings ratio of 29.64, a P/E/G ratio of 1.85 and a beta of 0.95. Visa has a 1-year low of $227.68 and a 1-year high of $290.96.

Insider Activity

In other news, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the transaction, the insider now owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the transaction, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul D. Fabara sold 25,293 shares of the firm’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 transaction, the insider now owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

V has been the topic of a number of recent research reports. Robert W. Baird lifted their target price on Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Oppenheimer lifted their price objective on Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Evercore ISI reduced their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Piper Sandler initiated coverage on Visa in a research report on Monday, May 13th. They set an “overweight” rating and a $322.00 price objective for the company. Finally, Royal Bank of Canada lifted their price objective on Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Six analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $304.72.

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.