WEX (NYSE:WEX) Updates Q4 2024 Earnings Guidance

WEX (NYSE:WEX) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 3.510-3.610 for the period, compared to the consensus estimate of 4.280. The company issued revenue guidance of $630.0 million-$640.0 million, compared to the consensus revenue estimate of $674.5 million. WEX also updated its FY 2024 guidance to 15.210-15.310 EPS.

WEX Price Performance

NYSE WEX opened at $178.85 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $7.35 billion, a PE ratio of 30.94, a price-to-earnings-growth ratio of 1.19 and a beta of 1.55. WEX has a 12-month low of $161.95 and a 12-month high of $244.04. The company has a 50 day moving average price of $199.68 and a two-hundred day moving average price of $194.28.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. William Blair raised WEX to a “strong-buy” rating in a report on Friday, July 26th. Jefferies Financial Group increased their price target on WEX from $190.00 to $210.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. reduced their price objective on shares of WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a research note on Tuesday, August 20th. Bank of America raised their target price on shares of WEX from $238.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company cut their target price on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating for the company in a research report on Friday. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, WEX has an average rating of “Moderate Buy” and a consensus target price of $232.92.

Insider Activity at WEX

In other WEX news, insider Melanie J. Tinto sold 1,564 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $185.04, for a total value of $289,402.56. Following the completion of the sale, the insider now owns 8,461 shares in the company, valued at approximately $1,565,623.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Ann Elena Drew sold 1,182 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $172.73, for a total value of $204,166.86. Following the completion of the transaction, the insider now owns 5,584 shares of the company’s stock, valued at $964,524.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Melanie J. Tinto sold 1,564 shares of WEX stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $185.04, for a total value of $289,402.56. Following the sale, the insider now directly owns 8,461 shares in the company, valued at $1,565,623.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,905 shares of company stock worth $895,107 over the last three months. Company 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.