WEX (NYSE:WEX) Issues Q4 Earnings Guidance

by · The Markets Daily

WEX (NYSE:WEX – Get Free Report) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided EPS guidance of $3.51-3.61 for the period, compared to the consensus EPS 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.

WEX Trading Down 15.0 %

Shares of NYSE:WEX traded down $31.93 during trading on Thursday, reaching $181.11. The stock had a trading volume of 2,471,640 shares, compared to its average volume of 352,900. 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 cap of $7.44 billion, a P/E ratio of 31.33, a PEG ratio of 1.19 and a beta of 1.55. The business has a fifty day moving average price of $199.67 and a 200-day moving average price of $195.02. WEX has a fifty-two week low of $161.95 and a fifty-two week high of $244.04.

WEX (NYSE:WEX – Get Free Report) last issued its quarterly earnings results 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 return on equity of 31.05% and a net margin of 9.32%. The company had revenue of $673.50 million during the quarter, compared to the consensus estimate of $677.44 million. As a group, analysts anticipate that WEX will post 13.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WEX. Bank of America increased their target price on WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Jefferies Financial Group increased their price objective on shares of WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Wells Fargo & Company boosted their target price on shares of WEX from $190.00 to $200.00 and gave the company an “equal weight” rating in a report on Monday. Keefe, Bruyette & Woods cut their price target on shares of WEX from $275.00 to $230.00 and set an “outperform” rating on the stock in a research note on Monday, July 8th. Finally, JPMorgan Chase & Co. decreased their price target on shares of WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, WEX currently has a consensus rating of “Moderate Buy” and an average target price of $239.17.

Read Our Latest Analysis on WEX

Insider Activity at WEX

In other WEX news, insider Ann Elena Drew sold 1,182 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $172.73, for a total transaction of $204,166.86. Following the transaction, the insider now owns 5,584 shares in the company, valued at $964,524.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other WEX news, insider Ann Elena Drew sold 1,182 shares of the business’s stock in a transaction 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 owns 5,584 shares in the company, valued at $964,524.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Melanie J. Tinto sold 1,564 shares of the firm’s stock in a transaction dated 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 owns 8,461 shares of the company’s stock, valued at $1,565,623.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,905 shares of company stock worth $895,107. Corporate insiders own 1.10% of the company’s stock.

WEX Company Profile

(Get Free Report)

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.

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