TransUnion (NYSE:TRU), a leading global information and insights company, has reached a new 52-week high, with its share price hitting $82.97. This milestone reflects the company's strong performance over the past year, despite the challenging economic environment. The new high is a testament to TransUnion's resilience and its ability to adapt to market changes. Over the past year, the company has seen a 1.4% increase in its share price, demonstrating steady growth and solidifying its position in the market. This upward trend indicates a positive outlook for the company, as it continues to navigate the complexities of the global economy.
In other recent news, TransUnion, a major player in the credit reporting industry, has seen a series of significant developments. BofA Securities maintained its Buy rating on the company's stock, citing stability and valuation, and expects TransUnion to exceed its second-quarter sales and earnings per share (EPS) estimates. The firm also anticipates that TransUnion will raise its earnings guidance for the full year of 2024.
TransUnion's first quarter revenue for 2024 surpassed the $1 billion mark for the first time, driven primarily by a 50% expected growth in the mortgage sector. This achievement has led TransUnion to raise its full-year 2024 guidance, despite market uncertainties.
In addition, BofA Securities upgraded TransUnion's stock from Neutral to Buy, forecasting an EPS of $3.93 for the company in 2024, higher than TransUnion's own forecast range. The firm cites TransUnion's attractive valuation and consistent performance in consumer lending as reasons for the upgrade.
Finally, TransUnion declared a quarterly cash dividend of $0.105 per share for the first quarter of 2024, demonstrating its commitment to shareholder value. These are the latest developments in TransUnion's ongoing efforts to navigate the complexities of modern commerce and extend its market presence.
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