Visa Inc (V) reported quarterly earnings results on Thursday, Apr-21-2016. The company said it had a profit of $0.68 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.66. The company posted revenue of $3626.00 million in the period, compared to analysts expectations of $3600.06 million. The company’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS.
Many Wall Street Analysts have commented on Visa Inc. Company shares were Reiterated by Sun Trust Rbsn Humphrey on Apr 20, 2016 to “Buy”, Firm has raised the Price Target to $ 100 from a previous price target of $85 .Compass Point Initiated Visa Inc on Apr 15, 2016 to “Neutral”, Price Target of the shares are set at $80.Visa Inc was Downgraded by BofA/Merrill to ” Neutral” on Feb 11, 2016.
Visa Inc opened for trading at $80.2 and hit $81.55 on the upside on Monday, eventually ending the session at $81.45, with a gain of 1.71% or 1.37 points. The heightened volatility saw the trading volume jump to 77,61,240 shares. Company has a market cap of $177,891 M.
In a different news, on Mar 7, 2016, Ellen Richey (VICE CHAIR RISK & PUB POLICY) sold 18,736 shares at $73.87 per share price. According to the SEC, on Dec 18, 2015, William M. Sheedy (EVP CORP STRAT, M&A, GR) sold 60,930 shares at $79.47 per share price. On Feb 4, 2015, Antonio Lucio (EVP & CHIEF BRAND OFFICER) sold 3,438 shares at $255.89 per share price, according to the Form-4 filing with the securities and exchange commission.
Visa Inc. is a payments technology company. The Company is engaged in operating a processing network VisaNet which facilitates authorization clearing and settlement of payment transactions across the world. The Company provides its services to consumers businesses financial institutions and governments in more than 200 countries and territories for electronic payments. The Company offers fraud protection for account holders and rapid payment for merchants. The Company provides a variety of payment solutions that support payment products that issuers can offer to their account holders such as pay now with debit pay ahead with prepaid or pay later with credit products. The Company offers a suite of digital eCommerce and mobile products and services.