Visa (NYSE:V) released its earnings results on Thursday. The credit-card processor reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14, MarketWatch Earnings reports. Visa had a return on equity of 37.22% and a net margin of 49.74%. The business had revenue of $5.69 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same period last year, the business earned $1.46 earnings per share. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year.
Shares of V stock traded down $3.09 on Friday, hitting $195.13. The stock had a trading volume of 614,210 shares, compared to its average volume of 9,822,607. The firm has a market cap of $380.23 billion, a P/E ratio of 39.86, a PEG ratio of 3.80 and a beta of 0.96. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.68. Visa has a twelve month low of $133.93 and a twelve month high of $220.39. The company has a fifty day moving average price of $208.89 and a two-hundred day moving average price of $203.37.
A number of equities research analysts recently weighed in on the company. Raymond James decreased their target price on Visa from $217.00 to $211.00 and set an “outperform” rating on the stock in a research report on Thursday, October 29th. KeyCorp lifted their price objective on Visa from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, January 13th. Wells Fargo & Company lifted their price objective on Visa from $210.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, November 19th. Jefferies Financial Group raised Visa from a “hold” rating to a “buy” rating and lifted their price objective for the company from $195.00 to $250.00 in a report on Wednesday, January 13th. Finally, Piper Sandler lifted their price objective on Visa from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Wednesday, December 2nd. Five research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. Visa presently has a consensus rating of “Buy” and an average price target of $222.80.
In other Visa news, CAO James H. Hoffmeister sold 2,157 shares of the business’s stock in a transaction dated Wednesday, December 2nd. The shares were sold at an average price of $208.87, for a total transaction of $450,532.59. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Rajat Taneja sold 60,048 shares of the business’s stock in a transaction dated Wednesday, December 30th. The stock was sold at an average price of $220.00, for a total transaction of $13,210,560.00. Following the sale, the insider now directly owns 310,904 shares in the company, valued at $68,398,880. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,205 shares of company stock valued at $15,545,693. Company insiders own 0.19% of the company’s stock.
Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
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