WEX (NYSE:WEX) Issues Q2 Earnings Guidance

WEX (NYSE:WEX) issued an update on its second quarter earnings guidance on Thursday morning. The company provided EPS guidance of $3.75-3.85 for the period, compared to the consensus EPS estimate of $3.99. The company issued revenue guidance of $675-685 million, compared to the consensus revenue estimate of $676.33 million. WEX also updated its FY 2024 guidance to 16.100-16.600 EPS.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. TheStreet upgraded shares of WEX from a c rating to a b rating in a research report on Thursday, February 8th. Truist Financial boosted their price target on WEX from $185.00 to $220.00 and gave the company a hold rating in a research note on Friday, February 9th. Evercore ISI increased their price objective on WEX from $250.00 to $275.00 and gave the stock an outperform rating in a research note on Tuesday, March 26th. Jefferies Financial Group increased their target price on shares of WEX from $235.00 to $240.00 and gave the stock a hold rating in a research report on Friday, April 12th. Finally, Barclays boosted their price target on shares of WEX from $255.00 to $280.00 and gave the company an overweight rating in a research report on Tuesday, April 16th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $240.00.

WEX Stock Up 0.7 %

Shares of NYSE:WEX traded up $1.55 during midday trading on Friday, reaching $216.58. The company had a trading volume of 427,462 shares, compared to its average volume of 272,318. WEX has a 1-year low of $161.95 and a 1-year high of $244.04. The stock has a market cap of $9.07 billion, a PE ratio of 35.22, a P/E/G ratio of 1.40 and a beta of 1.59. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 1.73. The business’s 50 day moving average price is $230.59 and its 200 day moving average price is $203.87.

WEX (NYSE:WEX) last posted its quarterly earnings results on Thursday, February 8th. The business services provider reported $3.14 earnings per share for the quarter, missing the consensus estimate of $3.29 by ($0.15). WEX had a return on equity of 30.92% and a net margin of 10.21%. The company had revenue of $663.30 million for the quarter, compared to analyst estimates of $656.75 million. Research analysts forecast that WEX will post 13.55 EPS for the current fiscal year.

Insider Buying and Selling at WEX

In related news, insider Ann Elena Drew sold 4,531 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $218.03, for a total value of $987,893.93. Following the completion of the sale, the insider now directly owns 3,653 shares in the company, valued at approximately $796,463.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Jagtar Narula sold 309 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $233.24, for a total value of $72,071.16. Following the transaction, the chief financial officer now directly owns 5,528 shares of the company’s stock, valued at $1,289,350.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ann Elena Drew sold 4,531 shares of WEX stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $218.03, for a total transaction of $987,893.93. Following the sale, the insider now directly owns 3,653 shares of the company’s stock, valued at approximately $796,463.59. The disclosure for this sale can be found here. Insiders sold a total of 28,326 shares of company stock worth $6,281,961 over the last quarter. 1.10% of the stock is currently owned by insiders.

About WEX

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.