Visa (NYSE:V) Price Target Cut to by Analysts at Royal Bank of Canada

Visa (NYSE:V) had its target price reduced by stock analysts at Royal Bank of Canada from to in a research note issued on Thursday, The Fly reports.

Other equities research analysts have also issued research reports about the company. Barclays lowered their price objective on Visa from $230.00 to $209.00 and set an “overweight” rating on the stock in a report on Thursday. SunTrust Banks reaffirmed an “in-line” rating and issued a $230.00 price objective on shares of Visa in a report on Friday, January 31st. William Blair reaffirmed an “outperform” rating on shares of Visa in a report on Wednesday, February 12th. Compass Point started coverage on Visa in a report on Thursday, December 5th. They issued a “buy” rating on the stock. Finally, Guggenheim reaffirmed a “buy” rating and issued a $222.00 price objective on shares of Visa in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Visa has an average rating of “Buy” and a consensus price target of $213.85.

Shares of NYSE V traded up $7.10 during midday trading on Thursday, reaching $168.88. 17,061,613 shares of the company were exchanged, compared to its average volume of 12,724,520. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.46. Visa has a 1 year low of $133.93 and a 1 year high of $214.17. The stock has a fifty day simple moving average of $185.40 and a 200 day simple moving average of $184.53. The stock has a market cap of $303.27 billion, a P/E ratio of 30.82, a PEG ratio of 1.66 and a beta of 0.94.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $1.46 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.46. Visa had a return on equity of 43.15% and a net margin of 52.60%. The firm had revenue of $6.05 billion for the quarter, compared to analyst estimates of $6.08 billion. During the same quarter last year, the company posted $1.30 earnings per share. The business’s revenue was up 10.0% on a year-over-year basis. As a group, analysts forecast that Visa will post 6.02 earnings per share for the current year.

In related news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of Visa stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $204.00, for a total transaction of $1,428,000.00. Following the completion of the transaction, the chief executive officer now directly owns 148,090 shares in the company, valued at approximately $30,210,360. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO James H. Hoffmeister sold 2,186 shares of Visa stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $208.71, for a total value of $456,240.06. The disclosure for this sale can be found here. Insiders have sold a total of 39,371 shares of company stock valued at $7,814,759 over the last 90 days. Insiders own 0.19% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in Visa by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 27,228,424 shares of the credit-card processor’s stock valued at $5,106,530,000 after acquiring an additional 733,712 shares during the last quarter. Norges Bank purchased a new stake in shares of Visa during the 4th quarter valued at $3,303,463,000. Loomis Sayles & Co. L P grew its stake in shares of Visa by 4.8% during the 4th quarter. Loomis Sayles & Co. L P now owns 16,638,866 shares of the credit-card processor’s stock valued at $3,126,443,000 after buying an additional 767,660 shares during the period. Magellan Asset Management Ltd grew its stake in shares of Visa by 2.8% during the 4th quarter. Magellan Asset Management Ltd now owns 14,517,335 shares of the credit-card processor’s stock valued at $2,727,807,000 after buying an additional 394,660 shares during the period. Finally, Polen Capital Management LLC grew its stake in shares of Visa by 2.8% during the 4th quarter. Polen Capital Management LLC now owns 10,160,598 shares of the credit-card processor’s stock valued at $1,909,176,000 after buying an additional 277,305 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Visa Company Profile

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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