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Company Update (NYSE:V): Egyptian Government and Visa Sign Agreement to Help Bring Electronic Payments to Government Subsidies

[Business Wire] – The Egyptian government, represented by the Ministry of Supply and Internal Trade and the Ministry of Planning, this week signed a Memorandum of Understanding with Visa Inc., to enable electronic payment of government subsidies to 22 million Egyptian families. Read more on this. Visa Inc. (V) , valued at $176.94B, started the session at $74.10. Today’s price range has been between $72.75 and $74.63 per share and has traded between $60.00 and $81.01 over the past 12 months. V shares are currently priced at 26.47x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 14.13x forward p/e ratio. The company pays shareholders $0.56 per share in dividend income per year, for a current yield of 0.75%. According to a consensus of 33 analysts, the earnings estimate of $0.67 per share would be $0.04 better than the year-ago quarter and a $0.03 sequential decrease. Investors should also note that the full-year EPS estimate of $2.81 is a $0.19 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $3.61 Billion. If realized, that would be a 5.87% increase over the year-ago quarter. In terms of ratings, Sterne Agee CRT Initiated V at Buy (Dec 17, 2015). Previously, Credit Agricole Initiated V at to Outperform. The average price target for V shares by the analysts covering the stock is $85.08, which is 14.82% above where the stock opened this morning. See more in (NYSE:V) Similar Articles: Company Update: Visa Inc (NYSE:V) – CFDFE, CFPA and Visa Partner to Promote Innovative Financial Inclusion Activities and Support Poverty Alleviation in China Market Update (NYSE:CVX): Visa and Chevron Bring Mobile Payments to the Pump Market Update (NYSE:V): Visa’s Cinematic Experiences Bring Future of Shopping to 2015 Toronto International Film Festival
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