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

Western Union (NYSE:WU) announced its quarterly earnings data on Wednesday. The credit services provider reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02, Briefing.com reports. Western Union had a net margin of 13.64% and a return on equity of 123.71%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm earned $0.43 EPS. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. 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 Price Performance

WU stock traded down $0.23 during trading on Thursday, hitting $11.32. The company had a trading volume of 247,848 shares, compared to its average volume of 4,012,924. The business has a 50 day moving average of $11.87 and a 200 day moving average of $12.39. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of 7.09, a P/E/G ratio of 1.74 and a beta of 0.86. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 5.98. Western Union has a fifty-two week low of $10.92 and a fifty-two week high of $14.19.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. 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 report on Tuesday, August 20th. 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. Citigroup restated a “neutral” rating and set a $13.00 price target on shares of Western Union in a research report on Wednesday, July 17th. Finally, StockNews.com upgraded shares of Western Union from a “sell” rating to a “hold” rating in a research report on Thursday, August 29th. Three equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat.com, Western Union has an average rating of “Hold” and an average 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.