JMP maintains Western Union stock Market Perform rating

Published 24/04/2025, 10:14
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On Thursday, JMP analysts maintained a Market Perform rating on Western Union Co. (NYSE:WU) stock, with the stock currently trading at a notably low P/E ratio of 3.68. According to InvestingPro analysis, Western Union appears undervalued based on its Fair Value calculations. The analysts highlighted that despite the company’s efforts under the Evolve 2025 program, they do not perceive a clear path to significant growth. Western Union reported its first-quarter results on Wednesday, achieving an Adjusted EPS of $0.41, which met the consensus and slightly exceeded JMP’s $0.37 estimate. The slight earnings beat was attributed to a lower tax rate for the quarter.

The company has seen growth in its digital platform year-over-year, but JMP analysts observed that there has been no substantial progress in achieving top-line growth since the inception of the Evolve 2025 program approximately two and a half years ago. This observation aligns with InvestingPro data showing a 3.38% revenue decline in the last twelve months. The analysts also pointed out that the guidance for 2025 includes benefits from the Eurobridge acquisition, which suggests limited organic growth prospects. Moreover, they noted limited EPS growth potential, even with aggressive cost-cutting measures, significant share repurchases, and favorable tax conditions.

Management’s remarks indicated that current macroeconomic pressures and uncertainties are clouding the company’s revenue outlook for the year. However, JMP acknowledged Western Union’s robust cash flow and the rapid rate of returning capital to shareholders. The company has maintained dividend payments for 20 consecutive years, currently offering a 9.3% dividend yield. Considering these factors, analysts believe that the stock is fairly valued at approximately 5 times the estimated 2025 EBITDA. For deeper insights into Western Union’s financial health and growth prospects, investors can access comprehensive analysis and additional ProTips through InvestingPro’s detailed research reports.

In other recent news, Western Union Co. reported its first-quarter earnings for 2025, with earnings per share (EPS) meeting Wall Street expectations at $0.41. However, the company’s revenue slightly missed forecasts, coming in at $984 million compared to the anticipated $999.8 million. Despite this minor revenue shortfall, Western Union’s operational efficiency program saved $30 million in the quarter, and the company reported a 10% increase in cross-border principal growth, excluding Iraq. Additionally, Western Union provided guidance for 2025, projecting adjusted revenue between $4.115 billion and $4.215 billion and an adjusted EPS range of $1.75 to $1.85. The company’s recent acquisition of EuroChange is expected to contribute approximately 1% to revenue growth. Analysts noted the company’s consistent transaction growth and the strategic importance of the EuroChange acquisition. Western Union’s CFO, Matt Keguin, highlighted that the company is on track to exceed its operational efficiency savings target ahead of schedule.

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