Western Union (NYSE:WU) Issues Earnings Results, Misses Estimates By $0.01 EPS

Western Union (NYSE:WU) announced its quarterly earnings results on Tuesday. The credit services provider reported $0.44 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 analyst estimates of $1.06 billion. Western Union had a net margin of 13.64% and a return on equity of 120.23%. The business’s revenue was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 EPS. 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 1.9 %

WU traded down $0.22 during trading on Thursday, reaching $11.67. 6,289,864 shares of the company’s stock were exchanged, compared to its average volume of 4,058,239. Western Union has a one year low of $10.92 and a one year high of $14.19. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.38. The stock has a market capitalization of $3.95 billion, a PE ratio of 7.04, a price-to-earnings-growth ratio of 1.88 and a beta of 0.85. The firm has a fifty day moving average price of $12.52 and a two-hundred day moving average price of $12.91.

Western Union Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 8.05%. The ex-dividend date of this dividend is Monday, September 16th. Western Union’s payout ratio is 55.62%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on WU. Citigroup restated a “neutral” rating and set a $13.00 target price on shares of Western Union in a research note on Wednesday, July 17th. Evercore ISI raised their target price on shares of Western Union from $14.00 to $15.00 and gave the company an “in-line” rating in a report on Thursday, April 25th. Royal Bank of Canada decreased 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 report on Wednesday. Finally, JPMorgan Chase & Co. raised 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. Three investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, Western Union has a consensus 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.