Visa (NYSE:V) Issues Quarterly Earnings Results

Visa (NYSE:V) posted its quarterly earnings results 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 analysts’ expectations of $9.49 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.33 EPS.

Visa Trading Up 3.4 %

V stock traded up $9.70 during midday trading on Wednesday, hitting $291.58. The stock had a trading volume of 5,179,404 shares, compared to its average volume of 7,053,126. The firm has a market cap of $533.28 billion, a P/E ratio of 32.72, a price-to-earnings-growth ratio of 1.95 and a beta of 0.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa has a 1-year low of $232.99 and a 1-year high of $295.78. The business has a fifty day moving average price of $279.65 and a two-hundred day moving average price of $273.26.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on V. The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 price objective on shares of Visa in a research note on Thursday, September 12th. Macquarie reiterated an “outperform” rating and issued a $300.00 price objective on shares of Visa in a research note on Friday, September 27th. Piper Sandler upped their price objective on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average target price of $317.15.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.19% of the stock is owned by company insiders.

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.