TransUnion's stock is experiencing a decline today, influenced by recent reports highlighting increased financial strain among Canadian consumers. According to a report released on November 27th, both TransUnion and Equifax have noted a rise in consumer debt, which reached a record high of $2.5 trillion in the third quarter of 2024. This surge in debt has been accompanied by a nearly two percent increase in serious delinquencies, as more Canadians struggle to keep up with loan and credit card payments. The report attributes these challenges to high living costs and inflationary pressures, particularly affecting Millennials and Gen Z consumers.
Additionally, VantageScore's October 2024 CreditGauge report, also released on November 27th, underscores growing financial pressures across all income brackets, including high-income earners. The report highlights a significant increase in delinquencies among white-collar workers, with a more than two-fold rise in the 60-89 Days Past Due category since January 2023. These findings suggest a broader economic strain that could impact consumer behavior during the holiday season, potentially affecting TransUnion's business outlook.
TransUnion's stock is currently priced at $100.11, down 0.61% from its previous close of $100.73, and has decreased by 0.98% from its opening price of $101.11.