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

Wells Fargo & Co downgraded shares of The Western Union (NYSE:WU) from an outperform rating to a market perform rating in a research report report published on Tuesday, Marketbeat reports. They currently have $20.00 price target on the credit services provider’s stock.

Other equities analysts also recently issued reports about the company. ValuEngine downgraded The Western Union from a hold rating to a sell rating in a research report on Tuesday, August 7th. Zacks Investment Research downgraded The Western Union from a hold rating to a sell rating in a research report on Monday, October 8th. Wolfe Research began coverage on The Western Union in a research report on Tuesday, July 17th. They issued an underperform rating for the company. Finally, Royal Bank of Canada reaffirmed a hold rating and issued a $21.00 target price on shares of The Western Union in a research report on Friday, August 3rd. Four analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The Western Union has an average rating of Hold and an average target price of $19.40.

NYSE WU opened at $18.82 on Tuesday. The stock has a market capitalization of $8.18 billion, a price-to-earnings ratio of 10.46, a PEG ratio of 2.25 and a beta of 1.01. The Western Union has a 1-year low of $17.40 and a 1-year high of $22.21.

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

Institutional investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board lifted its stake in The Western Union by 34.2% during the third quarter. Canada Pension Plan Investment Board now owns 1,562,910 shares of the credit services provider’s stock worth $29,789,000 after purchasing an additional 398,600 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its stake in The Western Union by 119.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 123,243 shares of the credit services provider’s stock worth $2,349,000 after purchasing an additional 67,008 shares during the last quarter. FIL Ltd purchased a new stake in The Western Union during the third quarter worth approximately $158,000. American International Group Inc. lifted its stake in The Western Union by 3.4% during the third quarter. American International Group Inc. now owns 172,030 shares of the credit services provider’s stock worth $3,279,000 after purchasing an additional 5,578 shares during the last quarter. Finally, Polaris Capital Management LLC lifted its stake in The Western Union by 10.7% during the third quarter. Polaris Capital Management LLC now owns 2,029,128 shares of the credit services provider’s stock worth $38,675,000 after purchasing an additional 196,812 shares during the last quarter.

The Western Union Company Profile

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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