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

Western Union (NYSE:WU) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.700-1.800 for the period, compared to the consensus estimate of 1.760. The company issued revenue guidance of $4.2 billion-$4.2 billion, compared to the consensus revenue estimate of $4.2 billion. Western Union also updated its FY24 guidance to $1.70-1.80 EPS.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. StockNews.com upgraded shares of Western Union from a “sell” rating to a “hold” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. decreased their price objective 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. Citigroup reissued a “neutral” rating and set a $13.00 target price on shares of Western Union in a research report on Wednesday, July 17th. Finally, Royal Bank of Canada reduced their price target on Western Union from $16.00 to $14.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $13.00.

Western Union Stock Performance

WU stock traded down $0.05 during mid-day trading on Wednesday, reaching $11.55. 6,056,088 shares of the stock traded hands, compared to its average volume of 4,031,270. The firm has a market capitalization of $3.91 billion, a PE ratio of 6.83, a P/E/G ratio of 1.79 and a beta of 0.86. The business has a 50-day moving average of $11.87 and a two-hundred day moving average of $12.39. Western Union has a 52 week low of $10.92 and a 52 week high of $14.19. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 5.98.

Western Union (NYSE:WU) last announced its earnings results on Tuesday, July 30th. The credit services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.01). The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.06 billion. Western Union had a net margin of 13.64% and a return on equity of 123.71%. Western Union’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.51 EPS. As a group, equities analysts predict that Western Union will post 1.77 EPS for the current fiscal year.

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.