The Western Union (NYSE:WU) was upgraded by Bank of America from a “neutral” rating to a “buy” rating in a report released on Tuesday, MarketBeat.com reports. The firm presently has a $26.00 target price on the credit services provider’s stock. Bank of America‘s price objective would indicate a potential upside of 16.12% from the stock’s previous close.
Several other equities analysts have also issued reports on the stock. BofA Securities upgraded shares of The Western Union from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a report on Tuesday. BTIG Research reiterated a “buy” rating and set a $28.00 target price on shares of The Western Union in a report on Tuesday, August 4th. Zacks Investment Research upgraded shares of The Western Union from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Tuesday, September 1st. Citigroup lifted their target price on shares of The Western Union from $18.00 to $21.00 and gave the company a “sell” rating in a report on Thursday, August 6th. Finally, Deutsche Bank lifted their target price on shares of The Western Union from $20.00 to $25.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. Seven investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $23.16.
Shares of WU opened at $22.39 on Tuesday. The Western Union has a one year low of $17.39 and a one year high of $28.44. The company has a 50-day simple moving average of $23.40 and a two-hundred day simple moving average of $21.37. The firm has a market capitalization of $9.20 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 0.48 and a beta of 0.85.
The Western Union (NYSE:WU) last issued its quarterly earnings data on Tuesday, August 4th. The credit services provider reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.06. The Western Union had a net margin of 12.38% and a negative return on equity of 1,029.12%. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the business posted $0.45 earnings per share. The Western Union’s quarterly revenue was down 16.8% compared to the same quarter last year. Analysts anticipate that The Western Union will post 1.79 earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of WU. Creative Planning grew its position in The Western Union by 14.6% in the 1st quarter. Creative Planning now owns 20,186 shares of the credit services provider’s stock worth $366,000 after purchasing an additional 2,576 shares during the period. Rhumbline Advisers grew its position in The Western Union by 8.8% in the 1st quarter. Rhumbline Advisers now owns 979,134 shares of the credit services provider’s stock worth $17,752,000 after purchasing an additional 79,142 shares during the period. Russell Investments Group Ltd. grew its position in The Western Union by 0.6% in the 1st quarter. Russell Investments Group Ltd. now owns 507,352 shares of the credit services provider’s stock worth $9,286,000 after purchasing an additional 2,816 shares during the period. AE Wealth Management LLC boosted its stake in shares of The Western Union by 87.3% during the 1st quarter. AE Wealth Management LLC now owns 26,109 shares of the credit services provider’s stock worth $473,000 after acquiring an additional 12,167 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new position in shares of The Western Union during the 1st quarter worth $616,000.
About The Western Union
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 between two consumers, primarily through a network of third-party agents. This segment offers international cross-border transfers and intra-country transfers, as well as money transfer transactions through Websites and mobile devices.
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