Western Union (NYSE:WU) Issues Earnings Results

Western Union (NYSE:WU) released its earnings results on Tuesday. The credit services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01), Briefing.com reports. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Western Union had a net margin of 13.64% and a return on equity of 120.23%. Western Union’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter last year, the company posted $0.51 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 Up 0.4 %

NYSE WU opened at $11.94 on Thursday. The stock has a market cap of $4.04 billion, a PE ratio of 7.04, a P/E/G ratio of 1.88 and a beta of 0.85. Western Union has a fifty-two week low of $10.92 and a fifty-two week high of $14.19. The business has a 50 day moving average price of $12.52 and a two-hundred day moving average price of $12.91. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.38.

Western Union Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a yield of 7.87%. The ex-dividend date of this dividend is Monday, September 16th. Western Union’s dividend payout ratio is presently 55.62%.

Wall Street Analyst Weigh In

WU has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on shares of Western Union from $13.00 to $14.00 and gave the company an “underweight” rating in a report on Thursday, April 25th. Royal Bank of Canada dropped their price objective on shares of Western Union from $16.00 to $14.00 and set a “sector perform” rating for the company in a research note on Wednesday. Citigroup reaffirmed a “neutral” rating and set a $13.00 price objective on shares of Western Union in a research note on Wednesday, July 17th. Finally, Evercore ISI upped their price objective on shares of Western Union from $14.00 to $15.00 and gave the company an “in-line” rating in a research note on Thursday, April 25th. Three investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, Western Union presently has an average rating of “Hold” and a consensus target price of $13.43.

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.