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Ahead of the earnings announcement of Visa Inc (NYSE: V) on Monday after the bell, investor sentiment remained positive. The stock is trading near the 52-week high. There is every possibility of the stock breaching the one-year high price if the company offers upbeat outlook for the fiscal year 2017 along with the results beat for the fourth quarter.
Most of the brokerages covering Visa have retained their rating on the stock. Similarly, most of them expect Visa to report earnings beat in the fourth quarter and the initial forecast of the fiscal year 2017 is likely to be in line the consensus.
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Street analysts expect the company to report EPS of $0.73 on revenue of $4.23 billion for the fourth quarter. For the fiscal year 2016, they see an EPS of $2.79 on revenue of $15.05 billion.
The following brokerages have given their opinion ahead of the fourth-quarter results:
- Barclays expects Visa EPS to top Street by $0.03 a share. The brokerage maintained Overweight rating and a target price of $100 on the stock.
- Goldman expects share gain with portfolio wins at Costco Wholesale Corporation (NASDAQ: COST), USAA and Fidelity. The firm maintains a Buy rating and a price objective of $96 on the stock.
- Baird Equity expects core revenue to grow 3–4 percent in fiscal year 2017 and sees EPS growth to be in the high teens/low 20s in the next two years. The firm has an Outperform rating and a price target of $95.
- Citi Research expects Visa to report $0.02 EPS higher than the Street estimates of $0.73. The firm sees focus on the outlook for the fiscal year 2017 and Visa Europe. The brokerage has a Buy rating and $92 as the target price.
- Drexel Hamilton retained Hold rating.
For the fiscal year 2017, Street analysts are looking for an EPS of $3.32 on revenues of $18.04 billion.
The stock traded up by 0.89 percent to $83.11 at last check.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.