Wall Street brokerages expect WEX Inc (NYSE:WEX) to announce earnings of $2.58 per share for the current quarter, according to Zacks. Eight analysts have made estimates for WEX’s earnings. The lowest EPS estimate is $2.55 and the highest is $2.62. WEX reported earnings of $2.19 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 17.8%. The firm is expected to report its next earnings report on Wednesday, October 30th.
On average, analysts expect that WEX will report full-year earnings of $9.23 per share for the current financial year, with EPS estimates ranging from $9.15 to $9.30. For the next financial year, analysts expect that the company will post earnings of $10.70 per share, with EPS estimates ranging from $10.23 to $10.93. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover WEX.
WEX (NYSE:WEX) last released its earnings results on Thursday, August 1st. The business services provider reported $2.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.08 by $0.20. The business had revenue of $441.81 million during the quarter, compared to the consensus estimate of $440.49 million. WEX had a return on equity of 17.88% and a net margin of 6.84%. The business’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same period last year, the business posted $2.07 earnings per share.
Several research firms have recently weighed in on WEX. Barclays decreased their price objective on WEX from $260.00 to $253.00 and set an “overweight” rating for the company in a report on Monday, August 5th. ValuEngine cut WEX from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Citigroup upped their price objective on shares of WEX from $235.00 to $260.00 and gave the company a “buy” rating in a report on Monday. TheStreet lowered shares of WEX from a “b” rating to a “c+” rating in a research report on Monday, August 5th. Finally, BTIG Research boosted their price target on shares of WEX from $225.00 to $255.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. WEX currently has a consensus rating of “Buy” and a consensus target price of $223.00.
In other news, insider Scott Robert Phillips sold 15,973 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $208.44, for a total transaction of $3,329,412.12. Following the sale, the insider now owns 9,850 shares in the company, valued at approximately $2,053,134. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Melissa D. Smith sold 15,556 shares of WEX stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $209.99, for a total transaction of $3,266,604.44. Following the sale, the chief executive officer now directly owns 78,839 shares of the company’s stock, valued at $16,555,401.61. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Treasurer of the State of North Carolina raised its holdings in shares of WEX by 1.1% during the 2nd quarter. Treasurer of the State of North Carolina now owns 17,269 shares of the business services provider’s stock valued at $3,594,000 after buying an additional 187 shares in the last quarter. BlackRock Inc. boosted its stake in WEX by 1.5% in the second quarter. BlackRock Inc. now owns 3,892,337 shares of the business services provider’s stock worth $809,995,000 after buying an additional 56,101 shares in the last quarter. Royal Bank of Canada boosted its stake in WEX by 1.3% in the second quarter. Royal Bank of Canada now owns 131,622 shares of the business services provider’s stock worth $27,391,000 after buying an additional 1,700 shares in the last quarter. Tortoise Index Solutions LLC boosted its stake in WEX by 8.1% in the second quarter. Tortoise Index Solutions LLC now owns 682 shares of the business services provider’s stock worth $142,000 after buying an additional 51 shares in the last quarter. Finally, united american securities inc. d b a uas asset management bought a new position in WEX during the second quarter valued at approximately $1,238,000. Hedge funds and other institutional investors own 99.37% of the company’s stock.
Shares of NYSE WEX traded up $2.00 during trading on Friday, reaching $205.99. 165,079 shares of the stock traded hands, compared to its average volume of 320,779. WEX has a 52-week low of $131.35 and a 52-week high of $221.66. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.42 and a quick ratio of 1.42. The company has a 50-day moving average of $204.73 and a 200-day moving average of $200.14. The stock has a market capitalization of $8.83 billion, a P/E ratio of 26.96, a price-to-earnings-growth ratio of 1.68 and a beta of 1.56.
WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment processing services.
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