Zacks: Analysts Expect WEX Inc (NYSE:WEX) Will Announce Earnings of $2.21 Per Share

Analysts expect WEX Inc (NYSE:WEX) to announce earnings of $2.21 per share for the current quarter, Zacks reports. Three analysts have issued estimates for WEX’s earnings, with the highest EPS estimate coming in at $2.43 and the lowest estimate coming in at $2.10. WEX reported earnings per share of $1.72 in the same quarter last year, which suggests a positive year over year growth rate of 28.5%. The company is expected to report its next earnings results on Thursday, May 7th.

On average, analysts expect that WEX will report full-year earnings of $10.46 per share for the current year, with EPS estimates ranging from $9.93 to $10.65. For the next year, analysts forecast that the firm will post earnings of $11.96 per share, with EPS estimates ranging from $11.40 to $12.48. Zacks’ EPS averages are a mean average based on a survey of analysts that follow WEX.

WEX (NYSE:WEX) last issued its quarterly earnings data on Thursday, February 13th. The business services provider reported $2.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.56 by $0.05. The company had revenue of $440.05 million for the quarter, compared to the consensus estimate of $455.69 million. WEX had a net margin of 3.95% and a return on equity of 18.86%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.02 earnings per share.

A number of research analysts recently weighed in on the stock. Citigroup increased their price objective on shares of WEX from $220.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Deutsche Bank increased their price objective on shares of WEX from $226.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Cowen started coverage on shares of WEX in a report on Friday, January 31st. They set a “market perform” rating and a $249.00 target price for the company. Jefferies Financial Group upped their target price on shares of WEX from $215.00 to $230.00 and gave the company a “hold” rating in a report on Tuesday. They noted that the move was a valuation call. Finally, Wolfe Research set a $240.00 target price on shares of WEX and gave the company a “buy” rating in a report on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $238.06.

Shares of WEX stock opened at $231.66 on Wednesday. The company has a market cap of $10.03 billion, a price-to-earnings ratio of 153.42, a price-to-earnings-growth ratio of 1.53 and a beta of 1.51. The company’s 50 day moving average is $218.95 and its 200 day moving average is $206.22. WEX has a twelve month low of $169.48 and a twelve month high of $234.95. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.46.

In other WEX news, CFO Roberto Simon sold 7,651 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $200.03, for a total transaction of $1,530,429.53. Following the completion of the sale, the chief financial officer now directly owns 16,902 shares of the company’s stock, valued at $3,380,907.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Melissa D. Smith sold 13,736 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $214.99, for a total transaction of $2,953,102.64. Following the sale, the chief executive officer now directly owns 71,339 shares of the company’s stock, valued at $15,337,171.61. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in WEX. Cullen Frost Bankers Inc. purchased a new stake in shares of WEX in the third quarter worth $25,000. Chevy Chase Trust Holdings Inc. purchased a new stake in shares of WEX in the fourth quarter worth $34,000. Solstein Capital LLC purchased a new stake in shares of WEX in the fourth quarter worth $37,000. Banque Cantonale Vaudoise purchased a new stake in shares of WEX in the fourth quarter worth $53,000. Finally, Ancora Advisors LLC purchased a new stake in shares of WEX in the fourth quarter worth $57,000. 98.26% of the stock is owned by institutional investors and hedge funds.

About WEX

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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