Morgan Stanley Cuts Western Union (NYSE:WU) Price Target to $9.00

Western Union (NYSE:WU - Get Free Report) had its price target cut by analysts at Morgan Stanley from $10.00 to $9.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an "underweight" rating on the credit services provider's stock. Morgan Stanley's price target indicates a potential downside of 15.05% from the company's current price.

WU has been the topic of a number of other research reports. UBS Group reduced their target price on Western Union from $13.50 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, October 24th. StockNews.com raised Western Union from a "sell" rating to a "hold" rating in a research note on Friday, October 25th. Barclays cut their target price on shares of Western Union from $11.00 to $10.00 and set an "underweight" rating for the company in a research note on Friday, December 13th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Western Union from $13.00 to $12.00 and set a "market perform" rating on the stock in a research note on Monday, December 9th. Three analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. Based on data from MarketBeat, Western Union has a consensus rating of "Hold" and a consensus target price of $12.11.

Western Union Stock Performance

Shares of WU traded down $0.62 during mid-day trading on Wednesday, hitting $10.60. 8,265,573 shares of the company's stock were exchanged, compared to its average volume of 5,684,605. The firm has a market capitalization of $3.58 billion, a P/E ratio of 3.88, a P/E/G ratio of 1.54 and a beta of 0.85. Western Union has a fifty-two week low of $10.04 and a fifty-two week high of $14.19. The business's 50 day moving average is $10.60 and its two-hundred day moving average is $11.26. The company has a current ratio of 1.20, a quick ratio of 1.10 and a debt-to-equity ratio of 3.04.

Western Union (NYSE:WU - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.02). Western Union had a return on equity of 96.90% and a net margin of 22.19%. On average, equities analysts expect that Western Union will post 1.8 earnings per share for the current year.

Western Union declared that its board has initiated a share repurchase program on Friday, December 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the credit services provider to repurchase up to 27.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Hedge Funds Weigh In On Western Union

A number of hedge funds have recently modified their holdings of WU. True Wealth Design LLC purchased a new stake in Western Union in the 3rd quarter worth approximately $25,000. R Squared Ltd bought a new stake in Western Union in the fourth quarter worth approximately $25,000. Independence Bank of Kentucky bought a new position in Western Union during the fourth quarter valued at about $28,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Western Union by 89.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,226 shares of the credit services provider's stock worth $39,000 after purchasing an additional 1,522 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its position in Western Union by 1,734.7% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,862 shares of the credit services provider's stock worth $52,000 after purchasing an additional 4,597 shares during the period. 91.81% of the stock is currently owned by institutional investors and hedge funds.

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.