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

Western Union (NYSE:WU) released its quarterly earnings data on Wednesday. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.02, Briefing.com reports. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Western Union had a return on equity of 123.71% and a net margin of 13.64%. Western Union’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business 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 3.3 %

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

Wall Street Analyst Weigh In

WU has been the subject of several research reports. Citigroup reissued a “neutral” rating and set a $13.00 price objective on shares of Western Union in a research note on Wednesday, July 17th. StockNews.com upgraded shares of Western Union from a “sell” rating to a “hold” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. decreased their target price on Western Union from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Tuesday, August 20th. UBS Group dropped their price objective on shares of Western Union from $13.50 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Royal Bank of Canada cut 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. Three research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.