Western Union (NYSE:WU) Issues FY24 Earnings Guidance

Western Union (NYSE:WU) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.70-1.80 for the period, compared to the consensus EPS estimate of $1.77. The company issued revenue guidance of $4.15-4.225 billion, compared to the consensus revenue estimate of $4.18 billion. Western Union also updated its FY 2024 guidance to 1.700-1.800 EPS.

Western Union Stock Performance

Shares of WU traded down $0.23 on Friday, reaching $11.44. 1,319,623 shares of the stock traded hands, compared to its average volume of 4,039,735. The stock’s 50-day moving average price is $12.50 and its 200-day moving average price is $12.91. Western Union has a 12 month low of $10.92 and a 12 month high of $14.19. The firm has a market cap of $3.86 billion, a price-to-earnings ratio of 6.91, a P/E/G ratio of 1.73 and a beta of 0.85. The company has a debt-to-equity ratio of 6.38, a current ratio of 1.01 and a quick ratio of 1.01.

Western Union (NYSE:WU) last posted its earnings results on Tuesday, July 30th. The credit services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.01). The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.06 billion. Western Union had a return on equity of 120.23% and a net margin of 13.64%. The firm’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.51 EPS. Equities analysts forecast that Western Union will post 1.76 EPS for the current fiscal year.

Western Union Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 8.22%. The ex-dividend date of this dividend is Monday, September 16th. Western Union’s payout ratio is currently 55.62%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on WU shares. Royal Bank of Canada cut their price objective on Western Union from $16.00 to $14.00 and set a sector perform rating for the company in a research report on Wednesday. Evercore ISI upped their price target on shares of Western Union from $14.00 to $15.00 and gave the stock an in-line rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. increased their price objective on shares of Western Union from $13.00 to $14.00 and gave the stock an underweight rating in a report on Thursday, April 25th. Finally, Citigroup reiterated a neutral rating and set a $13.00 target price on shares of Western Union in a research report on Wednesday, July 17th. Three analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $13.43.

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.