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

Visa (NYSE:V - Get Free Report) announced 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. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the firm posted $2.33 earnings per share. The business's revenue for the quarter was up 11.7% on a year-over-year basis.

Visa Trading Up 2.9 %

NYSE:V traded up $8.28 on Wednesday, reaching $290.16. 9,051,672 shares of the company's stock were exchanged, compared to its average volume of 7,072,043. The business has a fifty day moving average of $279.65 and a 200-day moving average of $273.26. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa has a 52-week low of $232.99 and a 52-week high of $295.78. The firm has a market capitalization of $530.68 billion, a price-to-earnings ratio of 32.42, a price-to-earnings-growth ratio of 1.95 and a beta of 0.96.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. BMO Capital Markets boosted their price target on Visa from $310.00 to $320.00 and gave the stock an "outperform" rating in a research report on Wednesday. Bank of America increased their price target on shares of Visa from $279.00 to $308.00 and gave the company a "neutral" rating in a research report on Tuesday, September 17th. William Blair raised shares of Visa to a "strong-buy" rating in a research report on Tuesday, July 23rd. Jefferies Financial Group boosted their price objective on shares of Visa from $320.00 to $330.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Morgan Stanley raised their target price on shares of Visa from $322.00 to $326.00 and gave the company an "overweight" rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $320.07.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business'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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.19% of the stock is owned by insiders.

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.