Actionable news
All posts from Actionable news
Actionable news in V: VISA Inc,

SunTrust On Visa: 'We Remain Adamantly Bullish'

Trade with confidence. Are you a professional trader? Be the first to get the alert with Benzinga Pro's real-time newsfeed and audio squawk and never miss an opportunity again.
Don't miss the chance to try it FREE today.

Shares of Visa Inc V 3.09% have been volatile in the last one year and are up 15 percent since April 23, 2015. SunTrust Robinson Humphrey’s Andrew Jeffrey maintained a Buy rating for the company. The analyst commented, “We remain adamantly bullish and recommend that investors add on any weakness.”

Reduced Net Revenue Guidance

Management cited macro weakness, timing delays on two major account conversions and related higher Client Incentives as the reasons for the 1-2ppt constant-currency net revenue guidance reduction. Analyst Andrew Jeffrey said that the company seems to be too optimistic.

Estimate Changes

The revenue estimate for FY16 has been reduced from $14,683 million to $14,499 million. The EPS estimate for FY16 has been raised from $2.76 to $2.78, although the latter figure includes a $0.03 hedging gain. The revenue and EPS estimates for FY17 have been reduced from $16,264 million to $15,867 million and from $3.21 to $3.18, respectively.

Latest Ratings for V

Apr 2016Goldman SachsMaintainsBuy
Apr 2016Cowen & CompanyMaintainsOutperform
Apr 2016Compass PointInitiates Coverage onNeutral

© 2016 Benzinga does not provide investment advice. All rights reserved.