WEX (NYSE:WEX) Releases FY 2024 Earnings Guidance

WEX (NYSE:WEX) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 15.980-16.380 for the period, compared to the consensus EPS estimate of 16.250. The company issued revenue guidance of $2.7 billion-$2.7 billion, compared to the consensus revenue estimate of $2.7 billion. WEX also updated its FY24 guidance to $15.98-16.38 EPS.

Analysts Set New Price Targets

WEX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price target on shares of WEX from $246.00 to $210.00 and set a neutral rating for the company in a research note on Friday, July 12th. Robert W. Baird upped their target price on WEX from $272.00 to $285.00 and gave the company an outperform rating in a research note on Monday, April 15th. Barclays raised their price target on WEX from $255.00 to $280.00 and gave the stock an overweight rating in a research note on Tuesday, April 16th. Jefferies Financial Group increased their target price on WEX from $235.00 to $240.00 and gave the stock a hold rating in a research note on Friday, April 12th. Finally, Wells Fargo & Company lowered their price objective on shares of WEX from $200.00 to $190.00 and set an equal weight rating for the company in a research report on Friday. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $238.08.

WEX Price Performance

Shares of WEX stock traded up $8.31 on Friday, reaching $180.44. 521,344 shares of the company were exchanged, compared to its average volume of 335,291. The company has a market cap of $7.56 billion, a price-to-earnings ratio of 29.44, a P/E/G ratio of 1.04 and a beta of 1.54. WEX has a 1 year low of $161.95 and a 1 year high of $244.04. The business has a 50-day moving average price of $180.90 and a 200 day moving average price of $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 (NYSE:WEX) last released its earnings results on Thursday, April 25th. The business services provider reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.15. The business had revenue of $652.70 million during 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%. Equities research analysts forecast that WEX will post 13.94 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Sara Trickett sold 734 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $210.43, for a total value of $154,455.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other WEX news, CFO Jagtar Narula sold 540 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $190.00, for a total value of $102,600.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Sara Trickett sold 734 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $210.43, for a total transaction of $154,455.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,911 shares of company stock worth $1,008,402. 1.10% of the stock is currently owned by insiders.

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.