Visa (NYSE:V) Releases Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Visa (NYSE:V) announced its earnings results on Tuesday. The credit-card processor reported $2.71 EPS for the quarter, topping the consensus estimate of $2.58 by $0.13, Briefing.com reports. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the company posted $2.33 EPS.

Visa Price Performance

NYSE:V traded up $9.25 during trading hours on Wednesday, hitting $291.13. The company’s stock had a trading volume of 1,873,906 shares, compared to its average volume of 7,037,863. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market capitalization of $532.46 billion, a P/E ratio of 32.38, a PEG ratio of 1.95 and a beta of 0.96. Visa has a twelve month low of $232.99 and a twelve month high of $295.78. The stock has a fifty day simple moving average of $279.65 and a 200-day simple moving average of $273.26.

Insider Transactions at Visa

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

Wall Street Analysts Forecast Growth

V has been the topic of several analyst reports. BMO Capital Markets upped their target price on Visa from $300.00 to $310.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Robert W. Baird raised their target price on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. William Blair upgraded shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Finally, Susquehanna lifted their price target on Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $316.26.

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.