Wells Fargo & Co Downgrades The Western Union (WU) to Market Perform

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Wells Fargo & Co lowered shares of The Western Union (NYSE:WU) from an outperform rating to a market perform rating in a report issued on Tuesday, MarketBeat.com reports. Wells Fargo & Co currently has $20.00 target price on the credit services provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada reissued a hold rating and issued a $21.00 price target on shares of The Western Union in a research note on Friday, August 3rd. Zacks Investment Research raised shares of The Western Union from a sell rating to a hold rating in a research note on Wednesday, August 8th. ValuEngine cut shares of The Western Union from a hold rating to a sell rating in a research note on Tuesday, August 7th. Finally, Wolfe Research initiated coverage on The Western Union in a report on Tuesday, July 17th. They issued an underperform rating on the stock. Four research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $19.40.

The Western Union stock opened at $18.82 on Tuesday. The Western Union has a 1 year low of $17.40 and a 1 year high of $22.21. The firm has a market capitalization of $8.18 billion, a P/E ratio of 10.46, a P/E/G ratio of 2.25 and a beta of 1.01.

The Western Union (NYSE:WU) last released its quarterly earnings results on Thursday, November 1st. The credit services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The Western Union had a negative net margin of 8.55% and a negative return on equity of 194.60%. The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the company earned $0.53 EPS. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. Equities analysts expect that The Western Union will post 1.92 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. Swiss National Bank raised its holdings in shares of The Western Union by 2.6% during the 2nd quarter. Swiss National Bank now owns 1,519,524 shares of the credit services provider’s stock worth $30,892,000 after acquiring an additional 39,000 shares during the period. Natixis raised its holdings in shares of The Western Union by 210.4% during the 2nd quarter. Natixis now owns 847,306 shares of the credit services provider’s stock worth $17,226,000 after acquiring an additional 574,322 shares during the period. Exane Derivatives raised its holdings in shares of The Western Union by 40.6% during the 3rd quarter. Exane Derivatives now owns 192,069 shares of the credit services provider’s stock worth $3,660,000 after acquiring an additional 55,449 shares during the period. Sun Life Financial INC raised its holdings in shares of The Western Union by 5,076.6% during the 2nd quarter. Sun Life Financial INC now owns 72,007 shares of the credit services provider’s stock worth $1,464,000 after acquiring an additional 70,616 shares during the period. Finally, AMP Capital Investors Ltd raised its holdings in shares of The Western Union by 31.4% during the 2nd quarter. AMP Capital Investors Ltd now owns 168,954 shares of the credit services provider’s stock worth $3,433,000 after acquiring an additional 40,384 shares during the period.

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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Analyst Recommendations for The Western Union (NYSE:WU)

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