Western Union (NYSE:WU) Given Market Perform Rating at JMP Securities

Western Union (NYSE:WU)‘s stock had its “market perform” rating restated by equities research analysts at JMP Securities in a research report issued to clients and investors on Thursday,Benzinga reports.

A number of other brokerages have also commented on WU. Morgan Stanley cut their price objective on shares of Western Union from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Wednesday. UBS Group lowered their price objective on Western Union from $13.50 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Barclays decreased their price target on shares of Western Union from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Friday, December 13th. Susquehanna reduced their price objective on shares of Western Union from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Western Union from $13.00 to $12.00 and set a “market perform” rating for the company in a research report on Monday, December 9th. Three investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $12.20.

Western Union Price Performance

Shares of NYSE:WU traded up $0.27 during midday trading on Thursday, hitting $11.28. 3,002,104 shares of the stock were exchanged, compared to its average volume of 5,225,517. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 3.96. The company has a 50 day moving average price of $10.61 and a 200-day moving average price of $11.27. Western Union has a twelve month low of $10.04 and a twelve month high of $14.19. The stock has a market cap of $3.81 billion, a P/E ratio of 5.80, a PEG ratio of 1.40 and a beta of 0.85.

Western Union (NYSE:WU) last issued its earnings results on Tuesday, February 4th. The credit services provider reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.02). Western Union had a net margin of 16.07% and a return on equity of 120.39%. On average, research analysts forecast that Western Union will post 1.77 earnings per share for the current year.

Western Union declared that its board has approved a stock repurchase program on Friday, December 13th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the credit services provider to reacquire up to 27.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. True Wealth Design LLC acquired a new stake in Western Union in the third quarter worth about $25,000. R Squared Ltd bought a new stake in shares of Western Union during the 4th quarter worth about $25,000. Independence Bank of Kentucky acquired a new stake in shares of Western Union in the 4th quarter worth approximately $28,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Western Union by 89.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,226 shares of the credit services provider’s stock valued at $39,000 after acquiring an additional 1,522 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB raised its holdings 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 in the last quarter. Institutional investors own 91.81% of the company’s stock.

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.