Western Union (NYSE:WU) Issues Quarterly Earnings Results

Western Union (NYSE:WU) released its quarterly earnings results on Wednesday. The credit services provider reported $0.46 EPS for the quarter, topping the consensus estimate of $0.44 by $0.02, Briefing.com reports. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Western Union had a return on equity of 123.71% and a net margin of 13.64%. The firm’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 earnings per share. Western Union updated its FY24 guidance to $1.70-1.80 EPS and its FY 2024 guidance to 1.700-1.800 EPS.

Western Union Stock Down 3.3 %

Western Union stock opened at $11.17 on Friday. The company has a debt-to-equity ratio of 5.98, a current ratio of 1.05 and a quick ratio of 1.05. Western Union has a 1-year low of $10.92 and a 1-year high of $14.19. The company has a market cap of $3.77 billion, a PE ratio of 6.85, a price-to-earnings-growth ratio of 1.74 and a beta of 0.86. The stock’s 50 day moving average price is $11.86 and its 200 day moving average price is $12.38.

Wall Street Analysts Forecast Growth

Several research firms have commented on WU. JPMorgan Chase & Co. cut their price target on Western Union from $14.00 to $12.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 20th. Citigroup reiterated a “neutral” rating and issued a $13.00 target price on shares of Western Union in a research note on Wednesday, July 17th. UBS Group lowered their target price on Western Union from $13.50 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday. Royal Bank of Canada lowered their target price on Western Union from $16.00 to $14.00 and set a “sector perform” rating on the stock in a research note on Wednesday, July 31st. Finally, StockNews.com upgraded Western Union from a “sell” rating to a “hold” rating in a research note on Thursday, August 29th. Three analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, Western Union presently has an average rating of “Hold” and a consensus target price of $12.86.

About Western Union

The Western Union Company provides money movement and payment services worldwide. The company operates through Consumer Money Transfer and Consumer Services segments. The Consumer Money Transfer segment facilitates money transfers for international cross-border and intra-country transfers, primarily through a network of retail agent locations, as well as through websites and mobile devices.