Western Union (NYSE:WU) Posts Earnings Results, Beats Estimates By $0.04 EPS

Western Union (NYSE:WU) released its quarterly earnings results on Wednesday. The credit services provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04, Briefing.com reports. Western Union had a net margin of 14.37% and a return on equity of 113.63%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the business earned $0.43 EPS. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. Western Union updated its FY24 guidance to $1.70-1.80 EPS.

Western Union Trading Up 1.4 %

Shares of NYSE:WU traded up $0.19 during midday trading on Wednesday, hitting $13.59. 5,713,792 shares of the stock traded hands, compared to its average volume of 4,438,921. The stock has a market capitalization of $4.63 billion, a PE ratio of 8.09, a P/E/G ratio of 4.89 and a beta of 0.85. The business’s 50 day moving average is $13.40 and its two-hundred day moving average is $12.60. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 5.23. Western Union has a one year low of $10.37 and a one year high of $14.19.

Western Union Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 6.92%. The ex-dividend date of this dividend was Thursday, March 14th. Western Union’s dividend payout ratio (DPR) is 55.95%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on WU. Barclays lifted their price objective on shares of Western Union from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Monday, February 12th. BMO Capital Markets lifted their price objective on shares of Western Union from $12.00 to $13.00 and gave the stock a “market perform” rating in a report on Wednesday, February 7th. Wolfe Research reaffirmed an “underperform” rating on shares of Western Union in a report on Thursday, January 4th. Monness Crespi & Hardt began coverage on shares of Western Union in a research note on Wednesday, March 20th. They issued a “neutral” rating for the company. Finally, William Blair reissued a “market perform” rating on shares of Western Union in a research note on Wednesday, February 7th. Two analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $13.25.

Insider Activity

In related news, Director Timothy P. Murphy purchased 10,000 shares of Western Union stock in a transaction that occurred on Monday, February 26th. The shares were bought at an average price of $12.85 per share, for a total transaction of $128,500.00. Following the completion of the transaction, the director now directly owns 56,205 shares of the company’s stock, valued at $722,234.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.85% of the company’s stock.

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.