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Western Union (WU) Soars 6.2%: Is Further Upside Left in the Stock?
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Western Union (WU - Free Report) shares soared 6.2% in the last trading session to close at $8.6. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 4.1% loss over the past four weeks.
WU recorded a strong price rise on investor optimism following an interview with Bloomberg. CEO Devin McGranahan highlighted stablecoins as a growth area, facilitating faster, lower-cost cross-border money transfers and strengthening value stability in unstable markets. He also suggested continuing pilots of stablecoin settlements in developing economies, supporting the company's goal to adapt with evolving financial technologies instead of resisting them.
This money transfer company is expected to post quarterly earnings of $0.44 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $1.04 billion, down 2.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Western Union, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on WU going forward to see if this recent jump can turn into more strength down the road.
Western Union belongs to the Zacks Financial Transaction Services industry. Another stock from the same industry, Shift4 Payments (FOUR - Free Report) , closed the last trading session 0.9% higher at $106.79. Over the past month, FOUR has returned 13.2%.
Shift4 Payments' consensus EPS estimate for the upcoming report has changed -1.2% over the past month to $1.23. Compared to the company's year-ago EPS, this represents a change of +28.1%. Shift4 Payments currently boasts a Zacks Rank of #4 (Sell).
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Western Union (WU) Soars 6.2%: Is Further Upside Left in the Stock?
Western Union (WU - Free Report) shares soared 6.2% in the last trading session to close at $8.6. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 4.1% loss over the past four weeks.
WU recorded a strong price rise on investor optimism following an interview with Bloomberg. CEO Devin McGranahan highlighted stablecoins as a growth area, facilitating faster, lower-cost cross-border money transfers and strengthening value stability in unstable markets. He also suggested continuing pilots of stablecoin settlements in developing economies, supporting the company's goal to adapt with evolving financial technologies instead of resisting them.
This money transfer company is expected to post quarterly earnings of $0.44 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $1.04 billion, down 2.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Western Union, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on WU going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Western Union belongs to the Zacks Financial Transaction Services industry. Another stock from the same industry, Shift4 Payments (FOUR - Free Report) , closed the last trading session 0.9% higher at $106.79. Over the past month, FOUR has returned 13.2%.
Shift4 Payments' consensus EPS estimate for the upcoming report has changed -1.2% over the past month to $1.23. Compared to the company's year-ago EPS, this represents a change of +28.1%. Shift4 Payments currently boasts a Zacks Rank of #4 (Sell).