Zacks: Analysts Expect Wageworks Inc (NYSE:WAGE) Will Post Quarterly Sales of $126.19 Million

Equities analysts expect Wageworks Inc (NYSE:WAGE) to report sales of $126.19 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Wageworks’ earnings, with estimates ranging from $123.07 million to $128.51 million. Wageworks reported sales of $126.64 million in the same quarter last year, which would suggest a negative year over year growth rate of 0.4%. The company is expected to issue its next earnings report on Monday, March 16th.

On average, analysts expect that Wageworks will report full-year sales of $478.88 million for the current fiscal year, with estimates ranging from $477.53 million to $480.86 million. For the next financial year, analysts forecast that the firm will report sales of $497.41 million, with estimates ranging from $485.69 million to $503.19 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Wageworks.

Wageworks (NYSE:WAGE) last released its quarterly earnings results on Monday, March 18th. The business services provider reported $0.23 earnings per share (EPS) for the quarter. The business had revenue of $118.08 million for the quarter. Wageworks had a net margin of 5.50% and a return on equity of 3.97%.

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Co downgraded shares of Wageworks from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $45.00 to $50.00 in a research note on Tuesday, May 7th. JMP Securities boosted their price target on shares of Wageworks from $43.00 to $60.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 1st. SunTrust Banks boosted their price target on shares of Wageworks to $57.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, Zacks Investment Research downgraded shares of Wageworks from a “hold” rating to a “sell” rating in a research note on Saturday, March 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Wageworks has a consensus rating of “Hold” and a consensus price target of $57.75.

A number of institutional investors and hedge funds have recently made changes to their positions in WAGE. Quantamental Technologies LLC purchased a new stake in Wageworks during the 4th quarter worth approximately $59,000. Arizona State Retirement System increased its stake in Wageworks by 6.2% during the 4th quarter. Arizona State Retirement System now owns 61,041 shares of the business services provider’s stock worth $1,658,000 after buying an additional 3,542 shares during the period. KBC Group NV increased its stake in Wageworks by 76.8% during the 4th quarter. KBC Group NV now owns 46,096 shares of the business services provider’s stock worth $1,252,000 after buying an additional 20,023 shares during the period. Rhumbline Advisers increased its position in shares of Wageworks by 22.7% in the 4th quarter. Rhumbline Advisers now owns 111,805 shares of the business services provider’s stock valued at $3,037,000 after purchasing an additional 20,668 shares during the last quarter. Finally, River Road Asset Management LLC increased its position in shares of Wageworks by 256.9% in the 4th quarter. River Road Asset Management LLC now owns 342,199 shares of the business services provider’s stock valued at $9,294,000 after purchasing an additional 246,306 shares during the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Wageworks stock traded up $0.17 on Monday, reaching $52.74. The company had a trading volume of 202,091 shares, compared to its average volume of 317,252. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 64.11 and a beta of 1.54. Wageworks has a 52-week low of $25.15 and a 52-week high of $56.80. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.44 and a current ratio of 1.44.

About Wageworks

WageWorks, Inc is a leader in administering Consumer-Directed Benefits (CDBs). WageWorks is solely dedicated to administering CDBs, including pre-tax spending accounts, such as Health Savings Accounts (HSAs), health and dependent care Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), as well as Commuter Benefit Services, including transit and parking programs, wellness programs, COBRA, and other employee benefits.

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