WEX (NYSE:WEX) Issues Q4 Earnings Guidance

WEX (NYSE:WEX) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $3.51-3.61 for the period, compared to the consensus earnings per share estimate of $4.28. The company issued revenue guidance of $630-640 million, compared to the consensus revenue estimate of $676.03 million. WEX also updated its FY 2024 guidance to 15.210-15.310 EPS.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on WEX shares. William Blair upgraded shares of WEX to a “strong-buy” rating in a research note on Friday, July 26th. Jefferies Financial Group boosted their price target on WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lowered their price objective on WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. Bank of America upped their price objective on shares of WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, Wells Fargo & Company upped their price target on shares of WEX from $190.00 to $200.00 and gave the company an “equal weight” rating in a report on Monday. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, WEX presently has a consensus rating of “Moderate Buy” and an average target price of $239.17.

WEX Stock Up 0.8 %

NYSE WEX opened at $213.04 on Thursday. The stock’s 50 day simple moving average is $199.61 and its 200 day simple moving average is $195.12. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.03 and a quick ratio of 1.03. WEX has a one year low of $161.95 and a one year high of $244.04. The firm has a market cap of $8.75 billion, a PE ratio of 36.86, a price-to-earnings-growth ratio of 1.19 and a beta of 1.55.

WEX (NYSE:WEX) last posted its quarterly earnings data on Thursday, July 25th. The business services provider reported $3.29 earnings per share for the quarter, beating the consensus estimate of $3.20 by $0.09. WEX had a net margin of 9.32% and a return on equity of 31.05%. The firm had revenue of $673.50 million during the quarter, compared to analysts’ expectations of $677.44 million. As a group, sell-side analysts forecast that WEX will post 13.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other WEX news, insider Ann Elena Drew sold 1,182 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $172.73, for a total value of $204,166.86. Following the transaction, the insider now directly owns 5,584 shares of the company’s stock, valued at approximately $964,524.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Jagtar Narula sold 508 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $200.00, for a total value of $101,600.00. Following the sale, the chief financial officer now directly owns 7,120 shares in the company, valued at $1,424,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ann Elena Drew sold 1,182 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $172.73, for a total transaction of $204,166.86. Following the completion of the sale, the insider now directly owns 5,584 shares of the company’s stock, valued at $964,524.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,905 shares of company stock worth $895,107 in the last quarter. Insiders own 1.10% of the company’s stock.

WEX Company Profile

WEX Inc operates a commerce platform in the United States and internationally. The Mobility segment offers fleet vehicle payment solutions, transaction processing, and information management services; and provides account activation and account retention services; authorization and billing inquiries, and account maintenance services; account management; credit and collections services; merchant services; analytics solutions; and ancillary services and offerings.