WEX (NYSE:WEX) Releases Q4 Earnings Guidance

WEX (NYSE:WEX) issued an update on its fourth quarter earnings guidance on Thursday morning. 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.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on WEX shares. Jefferies Financial Group upped their target price on WEX from $190.00 to $210.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods decreased their price objective on shares of WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Wells Fargo & Company dropped their target price on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Friday. Robert W. Baird decreased their price target on shares of WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a report on Friday. Finally, 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 report on Tuesday, August 20th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $232.92.

WEX Price Performance

Shares of NYSE WEX traded down $2.28 during mid-day trading on Friday, reaching $178.85. The company’s stock had a trading volume of 773,736 shares, compared to its average volume of 354,934. WEX has a 1-year low of $161.95 and a 1-year high of $244.04. The stock has a market capitalization of $7.35 billion, a P/E ratio of 31.33, a P/E/G ratio of 1.19 and a beta of 1.55. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a 50-day moving average of $199.67 and a two-hundred day moving average of $195.02.

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

Insider Buying and Selling

In other news, insider Ann Elena Drew sold 1,182 shares of WEX stock in a transaction on Friday, August 2nd. The stock was 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 approximately $964,524.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Ann Elena Drew sold 1,182 shares of the firm’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 owns 5,584 shares of the company’s stock, valued at approximately $964,524.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Robert Joseph Deshaies sold 1,651 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.67, for a total transaction of $299,937.17. Following the sale, the chief operating officer now directly owns 7,757 shares in the company, valued at approximately $1,409,214.19. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,905 shares of company stock valued at $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.