Oppenheimer Initiates Coverage on Western Union (NYSE:WU)

Research analysts at Oppenheimer assumed coverage on shares of Western Union (NYSE:WU) in a research report issued to clients and investors on Monday, Marketbeat reports. The brokerage set a “market perform” rating on the credit services provider’s stock.

Other research analysts also recently issued reports about the stock. Royal Bank of Canada decreased their price target on shares of Western Union from $14.00 to $13.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 24th. UBS Group reiterated a “neutral” rating and issued a $10.50 price target (down from $11.00) on shares of Western Union in a research report on Thursday, April 24th. JMP Securities reiterated a “market perform” rating on shares of Western Union in a research report on Thursday, April 24th. Keefe, Bruyette & Woods decreased their price target on shares of Western Union from $12.00 to $11.00 and set a “market perform” rating on the stock in a research report on Thursday, April 24th. Finally, Susquehanna decreased their price target on shares of Western Union from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $10.78.

Western Union Trading Up 1.5%

NYSE:WU opened at $9.42 on Monday. The company’s 50 day moving average price is $9.81 and its 200-day moving average price is $10.38. Western Union has a 52 week low of $9.00 and a 52 week high of $13.12. The company has a quick ratio of 1.10, a current ratio of 1.20 and a debt-to-equity ratio of 3.04. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 3.45, a PEG ratio of 1.32 and a beta of 0.72.

Western Union (NYSE:WU) last posted its quarterly earnings results on Wednesday, April 23rd. The credit services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. Western Union had a net margin of 22.19% and a return on equity of 96.90%. The firm had revenue of $983.60 million for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. On average, equities research analysts forecast that Western Union will post 1.79 earnings per share for the current fiscal year.

Institutional Trading of Western Union

Several institutional investors and hedge funds have recently modified their holdings of the company. Rhumbline Advisers increased its holdings in Western Union by 0.9% in the 1st quarter. Rhumbline Advisers now owns 977,396 shares of the credit services provider’s stock valued at $10,341,000 after acquiring an additional 8,820 shares during the last quarter. Strs Ohio bought a new stake in Western Union in the 1st quarter valued at $2,677,000. WBI Investments LLC increased its holdings in Western Union by 13.0% in the 1st quarter. WBI Investments LLC now owns 97,000 shares of the credit services provider’s stock valued at $1,026,000 after acquiring an additional 11,157 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Western Union by 285.9% in the 1st quarter. Acadian Asset Management LLC now owns 278,679 shares of the credit services provider’s stock valued at $2,947,000 after acquiring an additional 206,463 shares during the last quarter. Finally, Focus Partners Wealth increased its holdings in Western Union by 93.5% in the 1st quarter. Focus Partners Wealth now owns 27,535 shares of the credit services provider’s stock valued at $291,000 after acquiring an additional 13,302 shares during the last quarter. 91.81% of the stock is currently owned by institutional investors.

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.