WEX (NYSE:WEX) Updates Q4 Earnings Guidance

WEX (NYSE:WEX) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $3.51-3.61 for the period, compared to the consensus earnings per share estimate of $4.28. The company issued revenue guidance of $630-640 million, compared to the consensus revenue estimate of $676.03 million. WEX also updated its FY 2024 guidance to 15.210-15.310 EPS.

WEX Stock Performance

NYSE WEX traded down $2.28 during trading hours on Friday, reaching $178.85. The company’s stock had a trading volume of 773,768 shares, compared to its average volume of 354,934. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.66. The business has a 50-day simple moving average of $199.68 and a 200 day simple moving average of $194.59. WEX has a 52 week low of $161.95 and a 52 week high of $244.04. The stock has a market cap of $7.35 billion, a PE ratio of 30.95, a PEG ratio of 1.19 and a beta of 1.55.

WEX (NYSE:WEX) last announced its quarterly earnings results on Thursday, July 25th. The business services provider reported $3.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $0.09. The business had revenue of $673.50 million for the quarter, compared to the consensus estimate of $677.44 million. WEX had a return on equity of 31.05% and a net margin of 9.32%. Equities research analysts predict that WEX will post 13.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods decreased their price objective on WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a report on Monday, July 8th. Jefferies Financial Group increased their price objective on shares of WEX from $190.00 to $210.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Robert W. Baird cut their target price on WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday. Bank of America lifted their price target on WEX from $238.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, William Blair upgraded WEX to a “strong-buy” rating in a report on Friday, July 26th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, WEX has an average rating of “Moderate Buy” and an average price target of $232.92.

Insiders Place Their Bets

In other WEX news, insider Ann Elena Drew sold 1,182 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $172.73, for a total transaction of $204,166.86. Following the sale, the insider now directly owns 5,584 shares of the company’s stock, valued at $964,524.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Ann Elena Drew sold 1,182 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $172.73, for a total value of $204,166.86. Following the completion of the sale, the insider now directly owns 5,584 shares of the company’s stock, valued at $964,524.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Melanie J. Tinto sold 1,564 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $185.04, for a total transaction of $289,402.56. Following the transaction, the insider now directly owns 8,461 shares in the company, valued at $1,565,623.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,905 shares of company stock worth $895,107 over the last ninety days. 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.