Cantor Fitzgerald Cuts Western Union (NYSE:WU) Price Target to $8.00

Western Union (NYSE:WUFree Report) had its price target reduced by Cantor Fitzgerald from $9.00 to $8.00 in a report published on Wednesday morning, Marketbeat.com reports. They currently have an underweight rating on the credit services provider’s stock.

A number of other research firms have also commented on WU. Weiss Ratings lowered shares of Western Union from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, June 5th. Barclays initiated coverage on Western Union in a report on Tuesday, July 7th. They issued an “underweight” rating and a $7.00 target price on the stock. JPMorgan Chase & Co. dropped their price target on Western Union from $9.00 to $8.00 and set an “underweight” rating for the company in a report on Monday, July 13th. Finally, Citigroup cut their price objective on Western Union from $9.50 to $8.50 and set a “neutral” rating for the company in a research report on Friday, July 17th. Six research analysts have rated the stock with a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $8.35.

Read Our Latest Stock Analysis on WU

Western Union Price Performance

Shares of Western Union stock opened at $8.22 on Wednesday. The firm has a fifty day moving average price of $7.87 and a two-hundred day moving average price of $8.81. The company has a market cap of $2.57 billion, a PE ratio of 6.05, a price-to-earnings-growth ratio of 1.06 and a beta of 0.46. The company has a debt-to-equity ratio of 2.88, a current ratio of 1.11 and a quick ratio of 1.11. Western Union has a fifty-two week low of $6.91 and a fifty-two week high of $10.35.

Western Union (NYSE:WUGet Free Report) last issued its quarterly earnings results on Friday, April 24th. The credit services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.15). The firm had revenue of $963.50 million for the quarter, compared to the consensus estimate of $1.06 billion. Western Union had a net margin of 10.88% and a return on equity of 55.94%. The company’s revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 earnings per share. Analysts expect that Western Union will post 1.74 EPS for the current year.

Western Union Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a dividend of $0.235 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $0.94 annualized dividend and a yield of 11.4%. Western Union’s dividend payout ratio is currently 69.12%.

Insider Buying and Selling at Western Union

In other news, insider Benjamin Carlton Adams sold 19,924 shares of the business’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $9.23, for a total transaction of $183,898.52. Following the completion of the sale, the insider owned 234,689 shares in the company, valued at $2,166,179.47. The trade was a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Giovanni Angelini sold 6,000 shares of the company’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $9.47, for a total value of $56,820.00. Following the transaction, the insider directly owned 311,292 shares in the company, valued at $2,947,935.24. This trade represents a 1.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 3.29% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Western Union

Several institutional investors have recently modified their holdings of the business. Wilmington Savings Fund Society FSB boosted its stake in Western Union by 606.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 3,265 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 2,803 shares during the last quarter. Ascentis Independent Advisors acquired a new stake in shares of Western Union during the first quarter worth $30,000. Salomon & Ludwin LLC increased its holdings in Western Union by 1,546.5% in the fourth quarter. Salomon & Ludwin LLC now owns 3,326 shares of the credit services provider’s stock valued at $31,000 after purchasing an additional 3,124 shares during the last quarter. Fifth Third Bancorp lifted its stake in Western Union by 67.0% in the fourth quarter. Fifth Third Bancorp now owns 3,331 shares of the credit services provider’s stock valued at $31,000 after buying an additional 1,336 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Western Union by 179.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,341 shares of the credit services provider’s stock valued at $31,000 after buying an additional 2,146 shares during the period. Institutional investors and hedge funds own 91.81% of the company’s stock.

About Western Union

(Get Free Report)

Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement and payments. The company enables individuals and businesses to send and receive money through a variety of channels, including its vast agent network, online platforms, and mobile applications. Core services include person-to-person money transfers, business-to-business cross-border payments, bill payment services and prepaid card programs.

Through its digital offerings, Western Union provides customers with the ability to initiate transfers via its website and mobile app, as well as track transactions in real time.

Further Reading

Analyst Recommendations for Western Union (NYSE:WU)

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