Evercore ISI Raises Western Union (NYSE:WU) Price Target to $15.00

Western Union (NYSE:WU) had its price target hoisted by equities researchers at Evercore ISI from $14.00 to $15.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “in-line” rating on the credit services provider’s stock. Evercore ISI’s price target suggests a potential upside of 13.55% from the stock’s current price.

Several other research analysts have also issued reports on the stock. BMO Capital Markets increased their price target on shares of Western Union from $12.00 to $13.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 7th. William Blair reiterated a “market perform” rating on shares of Western Union in a research note on Wednesday, February 7th. Monness Crespi & Hardt assumed coverage on Western Union in a research report on Wednesday, March 20th. They issued a “neutral” rating for the company. Barclays increased their target price on Western Union from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Monday, February 12th. Finally, Wolfe Research reissued an “underperform” rating on shares of Western Union in a research note on Thursday, January 4th. Two research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. Based on data from MarketBeat, Western Union presently has a consensus rating of “Hold” and a consensus target price of $13.35.

Western Union Stock Performance

Western Union stock traded down $0.38 during midday trading on Thursday, hitting $13.21. 2,122,852 shares of the company were exchanged, compared to its average volume of 4,398,519. The company has a debt-to-equity ratio of 5.23, a quick ratio of 1.03 and a current ratio of 1.03. Western Union has a fifty-two week low of $10.37 and a fifty-two week high of $14.19. The business has a fifty day simple moving average of $13.42 and a two-hundred day simple moving average of $12.61. The firm has a market capitalization of $4.50 billion, a PE ratio of 7.79, a price-to-earnings-growth ratio of 4.93 and a beta of 0.85.

Western Union (NYSE:WU) last announced its quarterly earnings results on Wednesday, April 24th. The credit services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. Western Union had a return on equity of 113.63% and a net margin of 14.37%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business earned $0.43 EPS. Western Union’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, sell-side analysts forecast that Western Union will post 1.68 earnings per share for the current year.

Insider Buying and Selling at Western Union

In related news, Director Timothy P. Murphy purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average price of $12.85 per share, with a total value of $128,500.00. Following the completion of the transaction, the director now owns 56,205 shares of the company’s stock, valued at approximately $722,234.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Western Union

Several hedge funds have recently added to or reduced their stakes in WU. Newbridge Financial Services Group Inc. acquired a new position in Western Union in the 1st quarter valued at $41,000. Premier Path Wealth Partners LLC grew its holdings in shares of Western Union by 33.7% in the first quarter. Premier Path Wealth Partners LLC now owns 82,824 shares of the credit services provider’s stock valued at $1,157,000 after acquiring an additional 20,887 shares in the last quarter. Essex Financial Services Inc. boosted its holdings in shares of Western Union by 7.7% in the first quarter. Essex Financial Services Inc. now owns 35,968 shares of the credit services provider’s stock worth $503,000 after acquiring an additional 2,587 shares during the period. Venturi Wealth Management LLC raised its position in Western Union by 500.5% during the first quarter. Venturi Wealth Management LLC now owns 2,312 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 1,927 shares in the last quarter. Finally, PFG Investments LLC purchased a new position in shares of Western Union in the first quarter worth about $256,000. Institutional investors own 91.81% of the company’s stock.

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.