Western Union (NYSE:WU) Updates FY24 Earnings Guidance

Western Union (NYSE:WU) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.70-1.80 for the period, compared to the consensus earnings per share estimate of $1.70. The company issued revenue guidance of $4.125-4.200 billion, compared to the consensus revenue estimate of $4.13 billion. Western Union also updated its FY 2024 guidance to 1.700-1.800 EPS.

Western Union Stock Up 1.4 %

NYSE WU traded up $0.19 on Wednesday, hitting $13.59. 5,713,791 shares of the stock were exchanged, compared to its average volume of 4,439,084. 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 fifty-two week low of $10.37 and a fifty-two week high of $14.19. The company has a market cap of $4.63 billion, a PE ratio of 8.09, a PEG ratio of 4.89 and a beta of 0.85. The company has a 50-day moving average price of $13.40 and a 200-day moving average price of $12.60.

Western Union (NYSE:WU) last posted its quarterly earnings results on Wednesday, April 24th. The credit services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.41 by $0.04. Western Union had a net margin of 14.37% and a return on equity of 113.63%. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the business posted $0.43 EPS. The firm’s revenue was up 1.2% on a year-over-year basis. Sell-side analysts anticipate that Western Union will post 1.68 EPS for the current fiscal year.

Western Union Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on WU shares. Evercore ISI upped their target price on shares of Western Union from $13.00 to $14.00 and gave the company an in-line rating in a report on Tuesday, March 26th. William Blair restated a market perform rating on shares of Western Union in a report on Wednesday, February 7th. Monness Crespi & Hardt assumed coverage on shares of Western Union in a research report on Wednesday, March 20th. They issued a neutral rating for the company. Barclays upped their price target on shares of Western Union from $10.00 to $11.00 and gave the company an underweight rating in a research report on Monday, February 12th. Finally, Wolfe Research reiterated an underperform rating on shares of Western Union in a research report on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to MarketBeat, the company has an average rating of Hold and a consensus price target of $13.25.

Insider Transactions at Western Union

In related news, Director Timothy P. Murphy purchased 10,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was acquired at an average price of $12.85 per share, with a total value of $128,500.00. Following the completion of the transaction, the director now owns 56,205 shares of the company’s stock, valued at $722,234.25. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.85% 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.