WEX (NYSE:WEX) Issues Q4 2024 Earnings Guidance

WEX (NYSE:WEX) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 3.510-3.610 for the period, compared to the consensus EPS estimate of 4.280. The company issued revenue guidance of $630.0 million-$640.0 million, compared to the consensus revenue estimate of $674.5 million. WEX also updated its FY 2024 guidance to 15.210-15.310 EPS.

WEX Stock Down 15.0 %

Shares of NYSE:WEX traded down $31.93 during trading on Thursday, hitting $181.11. 2,471,640 shares of the company’s stock traded hands, compared to its average volume of 352,900. 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 company has a 50-day moving average price of $199.61 and a 200-day moving average price of $195.12. WEX has a 52 week low of $161.95 and a 52 week high of $244.04. The company has a market cap of $7.44 billion, a price-to-earnings ratio of 31.94, a price-to-earnings-growth ratio of 1.19 and a beta of 1.55.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Keefe, Bruyette & Woods cut their price target on WEX from $275.00 to $230.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. JPMorgan Chase & Co. cut their target price on WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 20th. William Blair raised shares of WEX to a “strong-buy” rating in a research note on Friday, July 26th. Bank of America lifted their price objective on shares of WEX from $238.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Wells Fargo & Company increased their target price on shares of WEX from $190.00 to $200.00 and gave the stock an “equal weight” rating in a report on Monday. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, WEX has an average rating of “Moderate Buy” and an average target price of $239.17.

Insider Activity at WEX

In other WEX news, COO Robert Joseph Deshaies sold 1,651 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total value of $299,937.17. Following the transaction, the chief operating officer now directly owns 7,757 shares in the company, valued at $1,409,214.19. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other WEX news, COO Robert Joseph Deshaies sold 1,651 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.67, for a total transaction of $299,937.17. Following the completion of the sale, the chief operating officer now directly owns 7,757 shares in the company, valued at $1,409,214.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ann Elena Drew sold 1,182 shares of the company’s 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 transaction, the insider now directly owns 5,584 shares in the company, valued at $964,524.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,905 shares of company stock worth $895,107. Company insiders own 1.10% of the company’s stock.

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.