Western Union (NYSE:WU) Posts Earnings Results, Beats Estimates By $0.02 EPS

Western Union (NYSE:WU) released its earnings results on Wednesday. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02, Briefing.com reports. The business 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 company’s revenue for the quarter 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 Trading Down 1.5 %

WU traded down $0.17 during trading on Thursday, hitting $11.38. The company’s stock had a trading volume of 1,668,017 shares, compared to its average volume of 4,019,818. Western Union has a twelve month low of $10.92 and a twelve month high of $14.19. The firm’s 50 day moving average price is $11.87 and its 200-day moving average price is $12.39. The company has a debt-to-equity ratio of 5.98, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market cap of $3.84 billion, a PE ratio of 7.09, a PEG ratio of 1.74 and a beta of 0.86.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada cut their target price on Western Union from $16.00 to $14.00 and set a “sector perform” rating for the company in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lowered their price target on shares of Western Union from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 20th. Citigroup reiterated a “neutral” rating and issued a $13.00 price objective on shares of Western Union in a research note on Wednesday, July 17th. Finally, StockNews.com raised shares of Western Union from a “sell” rating to a “hold” rating in a report on Thursday, August 29th. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat.com, Western Union has an average rating of “Hold” and a consensus price target of $13.00.

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.