Topic: Growth Stocks

Wall Street Stock Forecaster Hotline – Friday, October 31, 2014

Article Excerpt

VISA INC., $241.43, New York symbol V, hit an all-time high of $242.50 this week after reporting better-than-expected quarterly results. In its fiscal 2014 fourth quarter, which ended September 30, 2014, Visa’s earnings rose 13.8%, to $1.4 billion from $1.2 billion a year earlier. Per-share earnings gained 17.8%, to $2.18 from $1.85, on fewer shares outstanding. The latest earnings exclude a $450-million lawsuit settlement. On that basis, they beat the consensus estimate of $2.10 a share. Revenue rose 8.6%, to $3.23 billion from $2.97 billion, also beating the consensus forecast of $3.19 billion. Visa continues to benefit as more consumers use credit and debit cards to pay for purchases. It’s also profiting from the continued growth of online shopping. The company processed 16.9 billion transactions in the latest quarter, up 9% from a year ago. In addition, Visa announced a new plan to buy back up to $5.0 billion worth of shares. That’s equal to 3.4% of its $147.5-billion market cap (or the total…