Western Union (NYSE:WU) Price Target Cut to $9.00 by Analysts at Morgan Stanley

Western Union (NYSE:WU) had its price target lowered by investment analysts at Morgan Stanley from $10.00 to $9.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “underweight” rating on the credit services provider’s stock. Morgan Stanley’s price objective indicates a potential downside of 13.42% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the company. UBS Group decreased their price objective on Western Union from $13.50 to $12.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Keefe, Bruyette & Woods decreased their price target on shares of Western Union from $13.00 to $12.00 and set a “market perform” rating for the company in a research note on Monday, December 9th. Barclays lowered their price target on shares of Western Union from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Friday, December 13th. Finally, StockNews.com upgraded shares of Western Union from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Three investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to MarketBeat.com, Western Union presently has a consensus rating of “Hold” and a consensus target price of $12.22.

Western Union Trading Up 1.2 %

Shares of WU opened at $10.40 on Wednesday. Western Union has a 1-year low of $10.04 and a 1-year high of $14.19. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 5.33, a PEG ratio of 1.40 and a beta of 0.85. The firm’s 50-day moving average price is $10.61 and its 200-day moving average price is $11.27. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 3.96.

Western Union (NYSE:WU) last posted its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.02). Western Union had a net margin of 16.07% and a return on equity of 120.39%. Sell-side analysts anticipate that Western Union will post 1.77 EPS for the current year.

Western Union declared that its board has authorized a stock buyback program on Friday, December 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the credit services provider to buy up to 27.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Western Union

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. True Wealth Design LLC purchased a new stake in Western Union during the third quarter valued at $25,000. R Squared Ltd bought a new stake in shares of Western Union during the 4th quarter valued at about $25,000. Independence Bank of Kentucky purchased a new stake in shares of Western Union during the 4th quarter valued at about $28,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Western Union by 89.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,226 shares of the credit services provider’s stock worth $39,000 after purchasing an additional 1,522 shares during the period. Finally, Wilmington Savings Fund Society FSB boosted its holdings in shares of Western Union by 1,734.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,862 shares of the credit services provider’s stock worth $52,000 after buying an additional 4,597 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.