Western Union (NYSE:WU) Announces Earnings Results, Beats Expectations By $0.02 EPS

Western Union (NYSE:WU) issued 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 firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. Western Union had a net margin of 13.64% and a return on equity of 123.71%. Western Union’s revenue for the quarter 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 Stock Down 1.5 %

NYSE:WU traded down $0.17 during trading hours on Thursday, hitting $11.38. The stock had a trading volume of 1,668,017 shares, compared to its average volume of 4,019,818. The company has a market cap of $3.84 billion, a PE ratio of 7.09, a price-to-earnings-growth ratio of 1.74 and a beta of 0.86. The business has a 50 day simple moving average of $11.87 and a two-hundred day simple moving average of $12.39. Western Union has a 1-year low of $10.92 and a 1-year high of $14.19. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 5.98.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Citigroup reaffirmed a “neutral” rating and issued a $13.00 target price on shares of Western Union in a research report on Wednesday, July 17th. StockNews.com upgraded Western Union from a “sell” rating to a “hold” rating in a report 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 report on Tuesday, August 20th. Finally, Royal Bank of Canada cut their price target on shares of Western Union from $16.00 to $14.00 and set a “sector perform” rating on the stock in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat, Western Union has a consensus rating of “Hold” and a consensus target price of $13.00.

Western Union Company Profile

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.