Western Union (NYSE:WU) Coverage Initiated by Analysts at Oppenheimer

Oppenheimer assumed coverage on shares of Western Union (NYSE:WU) in a report published on Monday, Marketbeat reports. The brokerage issued a market perform rating on the credit services provider’s stock.

A number of other brokerages have also recently commented on WU. Susquehanna reduced their target price on Western Union from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. Morgan Stanley reduced their target price on Western Union from $10.00 to $9.00 and set an “underweight” rating for the company in a report on Wednesday, February 5th. Keefe, Bruyette & Woods dropped their price target on Western Union from $12.00 to $11.00 and set a “market perform” rating for the company in a research report on Thursday, April 24th. Royal Bank of Canada dropped their price target on Western Union from $14.00 to $13.00 and set a “sector perform” rating for the company in a research report on Thursday, April 24th. Finally, UBS Group restated a “neutral” rating and issued a $10.50 price target (down from $11.00) on shares of Western Union in a research report on Thursday, April 24th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $10.78.

Western Union Stock Performance

NYSE WU opened at $9.28 on Monday. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 3.40, a PEG ratio of 1.32 and a beta of 0.72. Western Union has a twelve month low of $9.00 and a twelve month high of $13.12. The company has a current ratio of 1.20, a quick ratio of 1.10 and a debt-to-equity ratio of 3.04. The stock has a 50-day moving average of $9.83 and a 200 day moving average of $10.38.

Western Union (NYSE:WU) last announced its earnings results on Wednesday, April 23rd. The credit services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. Western Union had a return on equity of 96.90% and a net margin of 22.19%. The business had revenue of $983.60 million during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the firm earned $0.45 earnings per share. The business’s revenue was down 6.2% compared to the same quarter last year. Sell-side analysts anticipate that Western Union will post 1.79 EPS for the current fiscal year.

Western Union Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $0.235 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.94 annualized dividend and a yield of 10.12%. Western Union’s payout ratio is 35.07%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC raised its stake in shares of Western Union by 9.2% in the third quarter. Barclays PLC now owns 608,454 shares of the credit services provider’s stock valued at $7,257,000 after acquiring an additional 51,327 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Western Union by 33.6% in the fourth quarter. Blue Trust Inc. now owns 18,533 shares of the credit services provider’s stock valued at $196,000 after acquiring an additional 4,657 shares in the last quarter. KBC Group NV raised its stake in shares of Western Union by 61.0% in the fourth quarter. KBC Group NV now owns 13,575 shares of the credit services provider’s stock valued at $144,000 after acquiring an additional 5,143 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Western Union by 2.2% in the fourth quarter. Pacer Advisors Inc. now owns 50,387 shares of the credit services provider’s stock valued at $534,000 after acquiring an additional 1,072 shares in the last quarter. Finally, Perigon Wealth Management LLC acquired a new stake in shares of Western Union in the fourth quarter valued at $144,000. 91.81% of the stock is currently owned by hedge funds and other institutional investors.

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.