WEX (NYSE:WEX) Issues Q3 Earnings Guidance

WEX (NYSE:WEX) issued an update on its third quarter earnings guidance on Thursday morning. The company provided EPS guidance of $4.42-4.52 for the period, compared to the consensus EPS estimate of $4.47. The company issued revenue guidance of $688-698 million, compared to the consensus revenue estimate of $705.97 million. WEX also updated its FY 2024 guidance to 15.980-16.380 EPS.

WEX Trading Up 4.8 %

Shares of NYSE:WEX traded up $8.31 during mid-day trading on Friday, reaching $180.44. 533,690 shares of the company’s stock were exchanged, compared to its average volume of 335,291. The firm has a market capitalization of $7.56 billion, a price-to-earnings ratio of 29.44, a PEG ratio of 1.04 and a beta of 1.54. The business’s fifty day moving average price is $180.90 and its 200-day moving average price is $205.88. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.06 and a current ratio of 1.06. WEX has a twelve month low of $161.95 and a twelve month high of $244.04.

WEX (NYSE:WEX) last issued its quarterly earnings results on Thursday, April 25th. The business services provider reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.15. The company had revenue of $652.70 million for the quarter, compared to analyst estimates of $653.52 million. WEX had a net margin of 10.21% and a return on equity of 30.92%. On average, research analysts predict that WEX will post 13.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on WEX shares. Keefe, Bruyette & Woods dropped their target price on shares of WEX from $275.00 to $230.00 and set an outperform rating on the stock in a report on Monday, July 8th. Robert W. Baird boosted their target price on shares of WEX from $272.00 to $285.00 and gave the company an outperform rating in a report on Monday, April 15th. Jefferies Financial Group boosted their target price on shares of WEX from $235.00 to $240.00 and gave the company a hold rating in a report on Friday, April 12th. Barclays boosted their target price on shares of WEX from $255.00 to $280.00 and gave the company an overweight rating in a report on Tuesday, April 16th. Finally, Wells Fargo & Company dropped their target price on shares of WEX from $200.00 to $190.00 and set an equal weight rating on the stock in a report on Friday. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $238.08.

Insider Transactions at WEX

In other news, CFO Jagtar Narula sold 540 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $190.00, for a total transaction of $102,600.00. Following the completion of the sale, the chief financial officer now directly owns 7,628 shares of the company’s stock, valued at $1,449,320. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, SVP Sara Trickett sold 734 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $210.43, for a total transaction of $154,455.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Jagtar Narula sold 540 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $190.00, for a total transaction of $102,600.00. Following the transaction, the chief financial officer now owns 7,628 shares in the company, valued at $1,449,320. The disclosure for this sale can be found here. Insiders sold a total of 4,911 shares of company stock valued at $1,008,402 over the last three months. Corporate 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.