Cantor Fitzgerald Issues Pessimistic Forecast for Western Union (NYSE:WU) Stock Price

Western Union (NYSE:WU) had its price objective decreased by equities research analysts at Cantor Fitzgerald from $9.00 to $8.00 in a report issued on Wednesday, MarketBeat.com reports. The brokerage currently has an “underweight” rating on the credit services provider’s stock. Cantor Fitzgerald’s target price points to a potential downside of 3.67% from the company’s current price.

WU has been the topic of several other reports. Weiss Ratings lowered Western Union from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, June 5th. Barclays assumed coverage on shares of Western Union in a research report on Tuesday, July 7th. They issued an “underweight” rating and a $7.00 price objective for the company. Citigroup reduced their target price on shares of Western Union from $9.50 to $8.50 and set a “neutral” rating on the stock in a research report on Friday, July 17th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Western Union from $9.00 to $8.00 and set an “underweight” rating for the company in a research note on Monday, July 13th. Six investment analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $8.35.

Western Union Stock Down 1.9%

Shares of Western Union stock opened at $8.30 on Wednesday. Western Union has a twelve month low of $6.91 and a twelve month high of $10.35. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of 6.11, a price-to-earnings-growth ratio of 1.08 and a beta of 0.46. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.88. The company has a fifty day moving average price of $7.87 and a 200 day moving average price of $8.81.

Western Union (NYSE:WU) last released its quarterly earnings data on Friday, April 24th. The credit services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.15). Western Union had a net margin of 10.88% and a return on equity of 55.94%. The company had revenue of $963.50 million during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period last year, the business earned $0.41 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. Equities research analysts forecast that Western Union will post 1.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Giovanni Angelini sold 6,000 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $9.47, for a total transaction of $56,820.00. Following the completion of the transaction, the insider directly owned 311,292 shares in the company, valued at approximately $2,947,935.24. This represents a 1.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Benjamin Carlton Adams sold 19,924 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $9.23, for a total transaction of $183,898.52. Following the sale, the insider directly owned 234,689 shares of the company’s stock, valued at $2,166,179.47. The trade was a 7.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.29% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WU. Wilmington Savings Fund Society FSB raised its stake in shares of Western Union by 606.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 3,265 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 2,803 shares in the last quarter. Ascentis Independent Advisors bought a new stake in Western Union in the first quarter valued at about $30,000. Salomon & Ludwin LLC raised its stake in Western Union by 1,546.5% during the fourth quarter. Salomon & Ludwin LLC now owns 3,326 shares of the credit services provider’s stock valued at $31,000 after buying an additional 3,124 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Western Union by 67.0% during the 4th quarter. Fifth Third Bancorp now owns 3,331 shares of the credit services provider’s stock worth $31,000 after buying an additional 1,336 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in Western Union by 179.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,341 shares of the credit services provider’s stock worth $31,000 after buying an additional 2,146 shares during the last quarter. 91.81% of the stock is currently owned by institutional investors.

Western Union Company Profile

Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement and payments. The company enables individuals and businesses to send and receive money through a variety of channels, including its vast agent network, online platforms, and mobile applications. Core services include person-to-person money transfers, business-to-business cross-border payments, bill payment services and prepaid card programs.

Through its digital offerings, Western Union provides customers with the ability to initiate transfers via its website and mobile app, as well as track transactions in real time.