Barclays Lowers Western Union (NYSE:WU) Price Target to $10.00

Western Union (NYSE:WU) had its price objective reduced by Barclays from $11.00 to $10.00 in a report issued on Friday,Benzinga reports. Barclays currently has an underweight rating on the credit services provider’s stock.

WU has been the subject of a number of other research reports. UBS Group reduced their target price on Western Union from $13.50 to $12.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Keefe, Bruyette & Woods decreased their target price on shares of Western Union from $13.00 to $12.00 and set a “market perform” rating on the stock in a research report on Monday, December 9th. JPMorgan Chase & Co. decreased their price target on Western Union from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 20th. Finally, StockNews.com upgraded shares of Western Union from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Three analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $12.63.

Western Union Stock Down 1.3 %

Western Union stock opened at $10.76 on Friday. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 5.52, a price-to-earnings-growth ratio of 1.51 and a beta of 0.86. The firm’s fifty day moving average price is $11.10 and its two-hundred day moving average price is $11.79. Western Union has a 1-year low of $10.51 and a 1-year high of $14.19. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 3.96.

Western Union (NYSE:WU) last announced its earnings results on Wednesday, October 23rd. The credit services provider reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. Western Union had a return on equity of 120.39% and a net margin of 16.07%. The company’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.43 EPS. On average, equities research analysts predict that Western Union will post 1.77 earnings per share for the current fiscal year.

Western Union Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 23rd will be paid a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 8.74%. Western Union’s payout ratio is 48.21%.

Western Union declared that its Board of Directors has approved a stock repurchase plan on Friday, December 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the credit services provider to reacquire up to 27.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Western Union

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. True Wealth Design LLC purchased a new position in Western Union in the 3rd quarter worth about $25,000. Quarry LP raised its holdings in shares of Western Union by 52.9% during the second quarter. Quarry LP now owns 2,588 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 895 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Western Union by 89.3% during 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 purchasing an additional 1,522 shares during the period. Abich Financial Wealth Management LLC boosted its holdings in Western Union by 31.1% in the second quarter. Abich Financial Wealth Management LLC now owns 4,316 shares of the credit services provider’s stock worth $53,000 after purchasing an additional 1,024 shares during the last quarter. Finally, Tompkins Financial Corp purchased a new stake in Western Union in the third quarter worth approximately $60,000. Hedge funds and other institutional investors own 91.81% 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.