WEX (NYSE:WEX) Updates FY 2024 Earnings Guidance

by · The Markets Daily

WEX (NYSE:WEX – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 15.210-15.310 for the period, compared to the consensus EPS estimate of 16.050. The company issued revenue guidance of $2.6 billion-$2.6 billion, compared to the consensus revenue estimate of $2.7 billion. WEX also updated its Q4 guidance to $3.51-3.61 EPS.

Wall Street Analyst Weigh In

WEX has been the subject of several research analyst reports. Keefe, Bruyette & Woods reduced their target price on WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a research note on Monday, July 8th. Bank of America increased their price objective on shares of WEX from $238.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company boosted their target price on shares of WEX from $190.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Monday. William Blair raised shares of WEX to a “strong-buy” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. decreased their price target on WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a research note on Tuesday, August 20th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $239.17.

View Our Latest Analysis on WEX

WEX Stock Performance

NYSE WEX traded down $31.93 during trading hours on Thursday, hitting $181.11. The company had a trading volume of 2,471,640 shares, compared to its average volume of 352,900. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.66. The firm has a market cap of $7.44 billion, a P/E ratio of 31.94, a price-to-earnings-growth ratio of 1.19 and a beta of 1.55. WEX has a fifty-two week low of $161.95 and a fifty-two week high of $244.04. The business has a fifty day simple moving average of $199.61 and a 200-day simple moving average of $195.12.

WEX (NYSE:WEX – Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The business services provider reported $3.29 earnings per share for the quarter, topping analysts’ consensus estimates of $3.20 by $0.09. The business had revenue of $673.50 million for 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%. Equities analysts predict that WEX will post 13.68 EPS for the current year.

Insider Buying and Selling at WEX

In related news, insider Ann Elena Drew sold 1,182 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 5,584 shares of the company’s stock, valued at $964,524.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Melanie J. Tinto sold 1,564 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $185.04, for a total value of $289,402.56. Following the completion of the transaction, the insider now directly owns 8,461 shares in the company, valued at $1,565,623.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $204,166.86. Following the transaction, the insider now owns 5,584 shares in the company, valued at $964,524.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,905 shares of company stock worth $895,107. 1.10% of the stock is owned by company insiders.

WEX Company Profile

(Get Free Report)

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.

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