Western Union Rating Lowered to Market Perform at Raymond James (WU)
Western Union (NYSE:WU) was downgraded by stock analysts at Raymond James from an “outperform” rating to a “market perform” rating in a report issued on Wednesday, TheFlyOnTheWall.com reports. They currently have a $23.00 price objective on the stock. Raymond James’ price target would indicate a potential upside of 31.58% from the company’s current price.
Western Union (NYSE:WU) opened at 17.48 on Wednesday. Western Union has a one year low of $12.10 and a one year high of $19.50. The stock’s 50-day moving average is $18.58 and its 200-day moving average is $17.35. The company has a market cap of $9.645 billion and a P/E ratio of 11.27.
Western Union (NYSE:WU) last released its earnings data on Tuesday, October 29th. The company reported $0.39 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.35 by $0.04. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the company posted $0.45 earnings per share. Western Union’s revenue was down .9% compared to the same quarter last year. Analysts expect that Western Union will post $1.43 EPS for the current fiscal year.
In other Western Union news, CEO Hikmet Ersek sold 47,711 shares of the company’s stock on the open market in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $19.50, for a total transaction of $930,364.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Western Union in a research note to investors on Monday, October 21st. They now have a $22.00 price target on the stock. Separately, analysts at Sterne Agee upgraded shares of Western Union from a “neutral” rating to a “buy” rating in a research note to investors on Monday, September 16th. They now have a $22.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Western Union in a research note to investors on Friday, September 13th. They now have a $19.00 price target on the stock. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $17.66.
The Western Union Company (NYSE:WU) is engaged in money movement and payment services.
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