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

Western Union (NYSE:WU) released its quarterly earnings data on Wednesday. The credit services provider reported $0.46 earnings per share for the quarter, beating 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 the consensus estimate of $1.03 billion. Western Union had a return on equity of 123.71% and a net margin of 13.64%. Western Union’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period last year, the business posted $0.43 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 Stock Down 1.6 %

NYSE WU traded down $0.19 on Thursday, hitting $11.36. 1,065,048 shares of the stock traded hands, compared to its average volume of 4,016,891. The company has a market capitalization of $3.84 billion, a P/E ratio of 7.09, a price-to-earnings-growth ratio of 1.74 and a beta of 0.86. Western Union has a twelve month low of $10.92 and a twelve month high of $14.19. The stock has a 50-day moving average of $11.87 and a 200 day moving average of $12.39. 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 Upgrades and Downgrades

WU has been the subject of several research reports. Citigroup reaffirmed a “neutral” rating and set a $13.00 price target on shares of Western Union in a research note on Wednesday, July 17th. JPMorgan Chase & Co. reduced their target price on Western Union from $14.00 to $12.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 20th. Royal Bank of Canada decreased their price target 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. Finally, StockNews.com raised shares of Western Union from a “sell” rating to a “hold” rating in a research note on Thursday, August 29th. Three analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $13.00.

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.