Western Union (NYSE:WU) Updates FY 2024 Earnings Guidance

Western Union (NYSE:WUGet Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 1.650-1.750 for the period, compared to the consensus earnings per share estimate of 1.680. The company issued revenue guidance of $4.1 billion-$4.2 billion, compared to the consensus revenue estimate of $4.2 billion. Western Union also updated its FY24 guidance to $1.65-1.75 EPS.

Western Union Trading Up 1.1 %

NYSE WU traded up $0.14 during trading hours on Tuesday, hitting $12.54. 6,289,023 shares of the company were exchanged, compared to its average volume of 4,909,771. The stock has a 50-day moving average price of $12.08 and a 200 day moving average price of $12.26. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 3.76. Western Union has a 52 week low of $10.07 and a 52 week high of $14.51. The stock has a market cap of $4.57 billion, a PE ratio of 6.33 and a beta of 0.83.

Western Union (NYSE:WUGet Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The credit services provider reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37. Western Union had a return on equity of 111.74% and a net margin of 17.02%. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the firm posted $0.32 earnings per share. The business’s quarterly revenue was down 3.6% on a year-over-year basis. Analysts forecast that Western Union will post 1.73 earnings per share for the current fiscal year.

Western Union Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be paid a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 7.50%. Western Union’s payout ratio is currently 47.47%.

Analysts Set New Price Targets

A number of analysts have commented on WU shares. William Blair reiterated a market perform rating on shares of Western Union in a report on Thursday, October 26th. Royal Bank of Canada reiterated a sector perform rating and issued a $16.00 price objective on shares of Western Union in a report on Tuesday, December 19th. Wolfe Research restated an underperform rating on shares of Western Union in a report on Thursday, January 4th. UBS Group restated a neutral rating and set a $14.00 price target on shares of Western Union in a report on Friday, October 20th. Finally, BMO Capital Markets began coverage on shares of Western Union in a report on Tuesday, December 5th. They set a market perform rating and a $12.00 price target for the company. Three analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat.com, Western Union currently has an average rating of Hold and an average price target of $12.75.

Read Our Latest Analysis on WU

Institutional Trading of Western Union

Several large investors have recently modified their holdings of the business. Equitable Holdings Inc. boosted its position in Western Union by 8.3% during the first quarter. Equitable Holdings Inc. now owns 10,834 shares of the credit services provider’s stock worth $121,000 after acquiring an additional 834 shares during the last quarter. LPL Financial LLC raised its stake in Western Union by 3.3% during the second quarter. LPL Financial LLC now owns 30,876 shares of the credit services provider’s stock worth $509,000 after purchasing an additional 975 shares during the period. Creative Planning raised its stake in Western Union by 4.5% during the third quarter. Creative Planning now owns 24,158 shares of the credit services provider’s stock worth $318,000 after purchasing an additional 1,035 shares during the period. Pathstone Family Office LLC raised its stake in Western Union by 4.6% during the fourth quarter. Pathstone Family Office LLC now owns 25,120 shares of the credit services provider’s stock worth $346,000 after purchasing an additional 1,096 shares during the period. Finally, State of Wyoming raised its stake in Western Union by 17.9% during the fourth quarter. State of Wyoming now owns 7,458 shares of the credit services provider’s stock worth $103,000 after purchasing an additional 1,131 shares during the period. 88.83% of the stock is currently owned by institutional investors and hedge funds.

About Western Union

(Get Free Report)

The Western Union Company provides money movement and payment services worldwide. The company operates in two segments, Consumer-to-Consumer and Business Solutions. The Consumer-to-Consumer 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.

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Earnings History and Estimates for Western Union (NYSE:WU)

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