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

Western Union (NYSE:WU - Get Free Report) announced its earnings results 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 company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. Western Union had a net margin of 13.64% and a return on equity of 123.71%. Western Union's revenue was down 5.6% compared to the same quarter last year. During the same period last year, the firm earned $0.43 earnings per share. 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

WU stock traded down $0.38 during midday trading on Thursday, hitting $11.17. 10,827,405 shares of the stock traded hands, compared to its average volume of 4,064,278. The firm has a market cap of $3.77 billion, a P/E ratio of 6.85, a PEG ratio of 1.74 and a beta of 0.86. The company has a debt-to-equity ratio of 5.98, a current ratio of 1.05 and a quick ratio of 1.05. The stock's fifty day simple moving average is $11.86 and its 200-day simple moving average is $12.38. Western Union has a 1-year low of $10.92 and a 1-year high of $14.19.

Analyst Ratings Changes

WU has been the subject of a number of research analyst reports. StockNews.com raised shares of Western Union from a "sell" rating to a "hold" rating in a report on Thursday, August 29th. Citigroup reissued a "neutral" rating and set a $13.00 target price on shares of Western Union in a report on Wednesday, July 17th. JPMorgan Chase & Co. reduced their target price on shares of Western Union from $14.00 to $12.00 and set an "underweight" rating for the company in a report on Tuesday, August 20th. Royal Bank of Canada reduced their target price on shares of Western Union from $16.00 to $14.00 and set a "sector perform" rating for the company in a report on Wednesday, July 31st. Finally, UBS Group reduced their target price on shares of Western Union from $13.50 to $12.00 and set a "neutral" rating for the company in a report on Thursday. Three analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price 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.