Zacks: Brokerages Anticipate Visa Inc (NYSE:V) Will Post Quarterly Sales of $5.73 Billion

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Brokerages expect Visa Inc (NYSE:V) to report sales of $5.73 billion for the current quarter, Zacks Investment Research reports. Eleven analysts have issued estimates for Visa’s earnings, with estimates ranging from $5.54 billion to $6.20 billion. Visa posted sales of $6.05 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 5.3%. The firm is scheduled to issue its next quarterly earnings report on Thursday, February 4th.

On average, analysts expect that Visa will report full-year sales of $24.01 billion for the current year, with estimates ranging from $23.28 billion to $25.40 billion. For the next financial year, analysts forecast that the company will report sales of $27.49 billion, with estimates ranging from $26.16 billion to $28.67 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Visa.

Visa (NYSE:V) last issued its quarterly earnings data on Wednesday, October 28th. The credit-card processor reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.03. Visa had a net margin of 51.37% and a return on equity of 40.65%.

A number of analysts have commented on V shares. Raymond James cut their price target on shares of Visa from $217.00 to $211.00 and set an “outperform” rating on the stock in a research report on Thursday. Piper Sandler cut their price target on shares of Visa from $206.00 to $200.00 and set a “neutral” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. upped their price target on shares of Visa from $186.00 to $229.00 and gave the company an “overweight” rating in a research report on Monday, August 17th. Morgan Stanley upped their price target on shares of Visa from $211.00 to $228.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Barclays upped their price target on shares of Visa from $225.00 to $235.00 and gave the company an “overweight” rating in a research report on Wednesday, October 21st. Six equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $216.79.

In other Visa news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the company’s stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $200.82, for a total value of $1,405,740.00. Following the completion of the sale, the chief executive officer now directly owns 124,090 shares of the company’s stock, valued at approximately $24,919,753.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rajat Taneja sold 45,036 shares of the company’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $210.00, for a total transaction of $9,457,560.00. Insiders sold a total of 111,122 shares of company stock worth $23,383,541 in the last 90 days. 0.19% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. Cedar Mountain Advisors LLC grew its position in Visa by 102.6% in the 2nd quarter. Cedar Mountain Advisors LLC now owns 158 shares of the credit-card processor’s stock worth $31,000 after purchasing an additional 80 shares in the last quarter. Newfound Research LLC bought a new stake in Visa in the 3rd quarter worth about $31,000. Price Wealth LLC grew its position in shares of Visa by 90.0% during the 2nd quarter. Price Wealth LLC now owns 190 shares of the credit-card processor’s stock valued at $37,000 after acquiring an additional 90 shares during the period. Centerpoint Advisors LLC bought a new position in shares of Visa during the 2nd quarter valued at approximately $43,000. Finally, American Research & Management Co. grew its position in shares of Visa by 27.1% during the 2nd quarter. American Research & Management Co. now owns 267 shares of the credit-card processor’s stock valued at $52,000 after acquiring an additional 57 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Shares of Visa stock traded up $3.33 during trading on Monday, hitting $184.20. The company’s stock had a trading volume of 519,957 shares, compared to its average volume of 10,047,374. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.55. The stock has a market cap of $351.32 billion, a price-to-earnings ratio of 35.08, a price-to-earnings-growth ratio of 2.59 and a beta of 0.91. The stock has a 50-day moving average price of $200.71 and a two-hundred day moving average price of $193.76. Visa has a 52 week low of $133.93 and a 52 week high of $217.35.

About Visa

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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