Stock Update (NYSE:V): Visa Signs on as Strategic Partner of the 2016 U.S.-China Tourism Year

[Business Wire] – SAN FRANCISCO–(BUSINESSWIRE)– Visa Inc. ( NYSE:V ) today signed a Cooperation Plan with the China National Tourism Administration (CNTA), establishing Visa as a strategic partner of the U.S.-China Tourism Year. The landmark collaboration between the CNTA, the U.S. Department of Commerce and Visa will provide for a year-long series of events designed to enhance tourism, trade cooperation, and cultural understanding between China and the United States. U.S. Olympic gold medalist and Team Visa athletes Meryl Davis and Charlie White, led a delegation of 1,000 U.S. visitors in a climb of the Jinshanling section of the Great Wall, on March 25, 2016. Read more on this. Visa Inc. (V) , valued at $178.04B, started trading this morning at $73.65. Shares have traded today between $73.41 and $74.16 per share and has traded between $60.00 and $81.01 over the past 12 months. Priced at 26.35x this year’s forecasted earnings, V shares are relatively expensive compared to the industry’s 13.16x forward p/e ratio. The company pays shareholders $0.56 per share annually in dividends, yielding 0.77%. Consensus earnings for the current quarter by the 32 sell-side analysts covering the stock is an estimate of $0.67 per share, which 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 $2.80 is a $0.18 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $3.60 Billion. If reported, that would be a 5.57% increase over the year-ago quarter. Recently, BofA/Merrill downgraded V from Buy to Neutral (Feb 11, 2016). Previously, Sterne Agee CRT Initiated V at to Buy. When considering if the stock is under or overvalued, the average price target is $85.53, which is 16.13% above where the stock opened this morning. See more in (NYSE:V) Similar Articles: Stock Update: Visa Inc (NYSE:V) – Just in Time for Tax Season, Canadians Can Now Pay Taxes Online With Visa Debit 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:V): Visa Inc. To Announce Fiscal First Quarter 2016 Financial Results on January 28, 2016