Editor’s Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.
The Dow Jones Industrial Average ( ^DJI) closed down 100.0 points (-0.6%) at 17,180. During the day, 411.2 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 346.2 million. The NYSE advances/declines ratio closed at 750 issues advancing vs. 2,367 declining with 117 unchanged.
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Holding the Dow back today was Visa (NYSE: V), which lagged the broader Dow index with a $6.34 decline (-2.4%) bringing the stock to $256.78. This single loss lowered the Dow Jones Industrial Average by 47.98 points or roughly accounting for 48% of the Dow’s overall loss. Volume for Visa ended the day at 3.8 million shares traded vs. an average daily trading volume of 2.9 million shares.
Visa has a market cap of $129.08 billion and is part of the financial sector and financial services industry. Shares are up 18.2% year-to-date as of Thursday’s close. The stock’s dividend yield sits at 0.7%.
Visa Inc., a payments technology company, operates as a retail electronic payments network worldwide. The company facilitates commerce through the transfer of value and information among financial institutions, merchants, consumers, businesses, and government entities.
TheStreet Ratings rates Visa as a buy. The company’s strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, notable return on equity and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow.
- You can view the full Visa Ratings Report.
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