Monness Crespi & Hardt Lowers Western Union (NYSE:WU) Price Target to $7.00

Key Points

• Monness Crespi & Hardt has lowered its price target for Western Union from $7.50 to $7.00, indicating a potential downside of 16.96% from the current stock price.
• Western Union reported earnings per share (EPS) of $0.42 for the quarter, missing estimates by $0.02, with a revenue of $1.03 billion, down 3.8% year-over-year.
• Currently, Western Union has an average rating of "Hold" with a consensus target price of $10.28, despite four analysts giving a sell rating.

Western Union (NYSE:WU - Free Report) had its price objective decreased by Monness Crespi & Hardt from $7.50 to $7.00 in a research note released on Tuesday, Marketbeat.com reports. Monness Crespi & Hardt currently has a sell rating on the credit services provider's stock.

Several other equities analysts have also issued reports on the stock. Oppenheimer started coverage on shares of Western Union in a report on Monday, June 2nd. They set a "market perform" rating on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Western Union from $12.00 to $11.00 and set a "market perform" rating for the company in a research note on Thursday, April 24th. Deutsche Bank Aktiengesellschaft started coverage on shares of Western Union in a research note on Thursday, July 17th. They issued a "hold" rating and a $9.00 target price for the company. UBS Group reaffirmed a "neutral" rating and set a $10.50 target price (down from $11.00) on shares of Western Union in a research report on Thursday, April 24th. Finally, Royal Bank Of Canada lowered their price target on Western Union from $14.00 to $13.00 and set a "sector perform" rating for the company in a report on Thursday, April 24th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $8.61.

Western Union Stock Performance

Shares of WU traded down $0.13 during mid-day trading on Tuesday, hitting $7.92. 9,651,865 shares of the company traded hands, compared to its average volume of 7,260,880. Western Union has a 1 year low of $7.90 and a 1 year high of $12.40. The company has a debt-to-equity ratio of 3.11, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a 50-day moving average price of $8.71 and a two-hundred day moving average price of $9.75. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 3.00, a P/E/G ratio of 2.78 and a beta of 0.65.

Western Union (NYSE:WU - Get Free Report) last released its earnings results on Monday, July 28th. The credit services provider reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.02). Western Union had a return on equity of 66.11% and a net margin of 21.83%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the business posted $0.44 EPS. Western Union's revenue was down 3.8% on a year-over-year basis. Equities analysts anticipate that Western Union will post 1.79 earnings per share for the current year.

Western Union Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a dividend of $0.235 per share. The ex-dividend date was Monday, June 16th. This represents a $0.94 dividend on an annualized basis and a yield of 11.9%. Western Union's payout ratio is currently 35.61%.

Hedge Funds Weigh In On Western Union

Several large investors have recently made changes to their positions in the business. McIlrath & Eck LLC grew its position in Western Union by 1,487.6% during the fourth quarter. McIlrath & Eck LLC now owns 3,080 shares of the credit services provider's stock worth $33,000 after buying an additional 2,886 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Western Union by 80.2% during the 1st quarter. UMB Bank n.a. now owns 3,264 shares of the credit services provider's stock worth $35,000 after buying an additional 1,453 shares during the period. MCF Advisors LLC grew its holdings in shares of Western Union by 464.3% in the 1st quarter. MCF Advisors LLC now owns 3,397 shares of the credit services provider's stock worth $36,000 after purchasing an additional 2,795 shares during the last quarter. Huntington National Bank grew its stake in Western Union by 662.7% during the fourth quarter. Huntington National Bank now owns 3,722 shares of the credit services provider's stock worth $39,000 after buying an additional 3,234 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Western Union by 188.1% during the first quarter. GAMMA Investing LLC now owns 3,803 shares of the credit services provider's stock worth $40,000 after buying an additional 2,483 shares during the last quarter. Institutional investors own 91.81% of the company's stock.

Western Union Company Profile

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.