Brokerages expect WEX Inc. (NYSE:WEX) to announce $309.16 million in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have made estimates for WEX’s earnings, with the highest sales estimate coming in at $312.20 million and the lowest estimate coming in at $306.70 million. WEX reported sales of $287.76 million in the same quarter last year, which indicates a positive year over year growth rate of 7.4%. The company is expected to issue its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that WEX will report full year sales of $309.16 million for the current financial year, with estimates ranging from $1.21 billion to $1.22 billion. For the next year, analysts forecast that the business will report sales of $1.33 billion per share, with estimates ranging from $1.31 billion to $1.36 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow WEX.
WEX (NYSE:WEX) last posted its earnings results on Thursday, July 27th. The business services provider reported $1.26 EPS for the quarter, beating the consensus estimate of $1.15 by $0.11. WEX had a return on equity of 13.03% and a net margin of 6.09%. The firm had revenue of $303.90 million for the quarter, compared to analysts’ expectations of $293.91 million. During the same period last year, the firm earned $1.08 EPS. The firm’s revenue was up 29.9% compared to the same quarter last year.
Several research analysts have recently commented on WEX shares. Deutsche Bank AG raised WEX from a “hold” rating to a “buy” rating and boosted their target price for the stock from $116.00 to $125.00 in a report on Monday, June 5th. TheStreet raised WEX from a “c” rating to a “b-” rating in a report on Monday, June 5th. BidaskClub downgraded WEX from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Mizuho started coverage on WEX in a report on Tuesday, June 27th. They issued a “buy” rating and a $115.00 target price on the stock. Finally, William Blair reissued an “outperform” rating on shares of WEX in a report on Wednesday, July 12th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $121.91.
In related news, SVP George W. Hogan sold 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $110.00, for a total value of $495,000.00. Following the completion of the transaction, the senior vice president now owns 15,615 shares in the company, valued at approximately $1,717,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Neary sold 2,390,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $102.25, for a total transaction of $244,377,500.00. The disclosure for this sale can be found here. Insiders sold a total of 2,396,500 shares of company stock valued at $245,082,500 in the last 90 days. 0.86% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of WEX. FNY Partners Fund LP bought a new position in WEX in the 1st quarter worth approximately $103,000. Glen Harbor Capital Management LLC raised its position in WEX by 6.1% in the 1st quarter. Glen Harbor Capital Management LLC now owns 1,120 shares of the business services provider’s stock worth $116,000 after purchasing an additional 64 shares during the last quarter. Tyers Asset Management LLC raised its position in WEX by 6.1% in the 1st quarter. Tyers Asset Management LLC now owns 1,540 shares of the business services provider’s stock worth $159,000 after purchasing an additional 88 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in WEX by 32.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,688 shares of the business services provider’s stock worth $175,000 after purchasing an additional 410 shares during the last quarter. Finally, First Bank & Trust raised its position in WEX by 5.1% in the 2nd quarter. First Bank & Trust now owns 1,686 shares of the business services provider’s stock worth $176,000 after purchasing an additional 82 shares during the last quarter.
Shares of WEX (NYSE:WEX) opened at 110.29 on Wednesday. The company has a 50-day moving average price of $106.55 and a 200 day moving average price of $105.15. WEX has a 52-week low of $97.26 and a 52-week high of $122.91. The firm has a market capitalization of $4.73 billion, a PE ratio of 66.52 and a beta of 1.80.
WEX Inc is a provider of corporate payment solutions. The Company operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment provides customers with payment and transaction processing services designed for the needs of commercial and government fleets.
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