Northland Securities Maintains Their Buy Rating on Western Union (WU)
In a report released today, Michael Grondahl from Northland Securities maintained a Buy rating on Western Union (WU), with a price target of $28.00. The company’s shares closed last Tuesday at $24.19.
According to TipRanks.com, Grondahl is a 5-star analyst with an average return of 16.2% and a 58.5% success rate. Grondahl covers the Financial sector, focusing on stocks such as International Money Express, WisdomTree Investments, and Front Yard Residential.
Western Union has an analyst consensus of Hold, with a price target consensus of $23.40.
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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 $173 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.