WEX (NYSE:WEX) Updates FY 2024 Earnings Guidance

WEX (NYSE:WEX) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 16.100-16.600 for the period, compared to the consensus EPS estimate of 16.250. The company issued revenue guidance of $2.7 billion-$2.8 billion, compared to the consensus revenue estimate of $2.7 billion. WEX also updated its FY24 guidance to $16.10-16.60 EPS.

Analysts Set New Price Targets

A number of research firms have issued reports on WEX. Jefferies Financial Group upped their target price on shares of WEX from $235.00 to $240.00 and gave the company a hold rating in a research report on Friday, April 12th. William Blair reaffirmed an outperform rating on shares of WEX in a report on Thursday, February 8th. TheStreet raised WEX from a c rating to a b rating in a report on Thursday, February 8th. Barclays lifted their target price on WEX from $255.00 to $280.00 and gave the company an overweight rating in a research report on Tuesday, April 16th. Finally, Citigroup boosted their price target on WEX from $240.00 to $280.00 and gave the stock a buy rating in a report on Wednesday, April 17th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $240.00.

WEX Trading Up 0.7 %

WEX stock traded up $1.55 during trading hours on Friday, reaching $216.58. The company had a trading volume of 427,401 shares, compared to its average volume of 305,160. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.05 and a quick ratio of 1.05. The company has a 50-day moving average price of $230.69 and a 200 day moving average price of $203.58. The firm has a market cap of $9.07 billion, a price-to-earnings ratio of 35.35, a P/E/G ratio of 1.51 and a beta of 1.59. WEX has a 12-month low of $161.95 and a 12-month high of $244.04.

WEX (NYSE:WEX) last posted its earnings results on Thursday, February 8th. The business services provider reported $3.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.29 by ($0.15). WEX had a net margin of 10.46% and a return on equity of 31.33%. The business had revenue of $663.30 million for the quarter, compared to analysts’ expectations of $656.75 million. Equities analysts forecast that WEX will post 13.55 earnings per share for the current year.

Insider Transactions at WEX

In related news, CFO Jagtar Narula sold 309 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $233.24, for a total transaction of $72,071.16. Following the sale, the chief financial officer now owns 5,528 shares of the company’s stock, valued at $1,289,350.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Melissa D. Smith sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $222.33, for a total transaction of $2,890,290.00. Following the completion of the sale, the chief executive officer now owns 81,998 shares of the company’s stock, valued at $18,230,615.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jagtar Narula sold 309 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $233.24, for a total transaction of $72,071.16. Following the sale, the chief financial officer now directly owns 5,528 shares of the company’s stock, valued at approximately $1,289,350.72. The disclosure for this sale can be found here. Insiders have sold 28,326 shares of company stock valued at $6,281,961 in the last three months. 1.10% of the stock is currently owned by company 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.