In a report released today, Andrew Schmitt from Citigroup maintained a Sell rating on Western Union (WU), with a price target of $21.00. The company’s shares closed last Thursday at $22.87.
According to TipRanks.com, Schmitt is a 1-star analyst with an average return of -5.7% and a 42.4% success rate. Schmitt covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Bottomline Technologies, and Euronet Worldwide.
The word on The Street in general, suggests a Hold analyst consensus rating for Western Union with a $23.80 average price target.
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Based on Western Union’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.19 billion and net profit of $177 million. In comparison, last year the company earned revenue of $1.34 billion and had a net profit of $615 million.
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The Western Union Co. is a holding company, which engages in the provision of money transfer and payment services. It operates through the following segments: Consumer-to-Consumer; Business Solutions; and Other. The Consumer-to-Consumer segment facilitates money transfers between two consumers. The Business Solutions segment offers payment and foreign exchange solutions, primarily cross-border, cross-currency transactions, for small and medium size enterprises and other organizations and individuals. The Other segment comprises electronic-based and cash-based bill payment services. The company was founded in 1851 and is headquartered in Denver, CO.
