Seaport Res Ptn Weighs in on Visa Inc.’s FY2024 Earnings (NYSE:V)

Visa Inc. (NYSE:V) – Seaport Res Ptn lowered their FY2024 earnings estimates for Visa in a note issued to investors on Tuesday, April 23rd. Seaport Res Ptn analyst J. Cantwell now forecasts that the credit-card processor will earn $9.90 per share for the year, down from their prior estimate of $9.95. The consensus estimate for Visa’s current full-year earnings is $9.89 per share. Seaport Res Ptn also issued estimates for Visa’s Q4 2024 earnings at $2.55 EPS.

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

Several other brokerages have also recently issued reports on V. UBS Group increased their target price on shares of Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday. Mizuho reiterated a “neutral” rating and set a $265.00 target price on shares of Visa in a report on Wednesday, March 27th. William Blair reiterated an “outperform” rating on shares of Visa in a report on Wednesday. Susquehanna increased their target price on shares of Visa from $300.00 to $326.00 and gave the stock a “positive” rating in a report on Friday, January 26th. Finally, Oppenheimer raised their price target on shares of Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average price target of $302.58.

Visa Stock Down 0.2 %

Shares of Visa stock opened at $274.52 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.45. Visa has a 1 year low of $216.14 and a 1 year high of $290.96. The firm’s 50-day moving average is $279.24 and its two-hundred day moving average is $264.52. The stock has a market cap of $504.16 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 1.89 and a beta of 0.96.

Institutional Investors Weigh In On Visa

Hedge funds have recently modified their holdings of the company. Altshuler Shaham Ltd purchased a new stake in shares of Visa in the third quarter valued at about $25,000. Livelsberger Financial Advisory purchased a new stake in shares of Visa in the fourth quarter valued at about $25,000. Westend Capital Management LLC purchased a new stake in shares of Visa in the first quarter valued at about $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of Visa in the fourth quarter valued at about $32,000. Finally, Nalls Sherbakoff Group LLC grew its holdings in shares of Visa by 545.5% in the third quarter. Nalls Sherbakoff Group LLC now owns 142 shares of the credit-card processor’s stock valued at $33,000 after purchasing an additional 120 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,150 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were 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 is accessible through this hyperlink. In other news, CEO Ryan Mcinerney sold 8,150 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were 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 is accessible through this hyperlink. Also, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the sale, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,874 shares of company stock valued at $5,506,827. 0.19% of the stock is owned by company insiders.

Visa Announces Dividend

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

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.