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

Western Union (NYSE:WU) posted its quarterly earnings results on Wednesday. The credit services provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02, Briefing.com reports. Western Union had a return on equity of 123.71% and a net margin of 13.64%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the firm earned $0.43 EPS. Western Union’s revenue was down 5.6% on a year-over-year basis. 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 Performance

Shares of WU stock opened at $11.17 on Friday. The company has a debt-to-equity ratio of 5.98, a current ratio of 1.05 and a quick ratio of 1.05. Western Union has a one year low of $10.92 and a one year high of $14.19. The business’s 50 day simple moving average is $11.85 and its 200 day simple moving average is $12.36. The stock has a market capitalization of $3.77 billion, a PE ratio of 6.86, a PEG ratio of 1.74 and a beta of 0.86.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. UBS Group reduced their price target 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. Royal Bank of Canada cut their target price on shares of Western Union from $16.00 to $14.00 and set a “sector perform” rating on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. dropped their price target on Western Union from $14.00 to $12.00 and set an “underweight” rating for the company in a research note on Tuesday, August 20th. StockNews.com raised Western Union from a “sell” rating to a “hold” rating in a report on Friday. Finally, Citigroup reissued a “neutral” rating and set a $13.00 price target on shares of Western Union in a research note on Wednesday, July 17th. Three research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.