WEX (NYSE:WEX) Updates Q4 2024 Earnings Guidance

by · The Markets Daily

WEX (NYSE:WEX – Get Free Report) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 3.510-3.610 for the period, compared to the consensus earnings per share 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 Trading Up 0.8 %

Shares of WEX stock opened at $213.04 on Thursday. 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 firm has a market capitalization of $8.75 billion, a P/E ratio of 36.86, a price-to-earnings-growth ratio of 1.19 and a beta of 1.55. The firm’s fifty day simple moving average is $199.61 and its 200 day simple moving average is $195.12. WEX has a 1 year low of $161.95 and a 1 year high of $244.04.

WEX (NYSE:WEX – Get Free Report) last announced its quarterly earnings data on Thursday, July 25th. The business services provider reported $3.29 earnings per share for the quarter, topping the consensus estimate of $3.20 by $0.09. The company had revenue of $673.50 million for the quarter, compared to analyst estimates of $677.44 million. WEX had a return on equity of 31.05% and a net margin of 9.32%. As a group, sell-side analysts predict that WEX will post 13.68 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Jefferies Financial Group upped their target price on shares of WEX from $190.00 to $210.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods lowered 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 boosted their price objective on shares of WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Wells Fargo & Company boosted their price objective on WEX from $190.00 to $200.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, William Blair raised WEX to a “strong-buy” rating in a research note on Friday, July 26th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, WEX presently has an average rating of “Moderate Buy” and a consensus target price of $239.17.

View Our Latest Analysis on WEX

Insider Transactions at WEX

In related news, CFO Jagtar Narula sold 508 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $200.00, for a total value of $101,600.00. Following the sale, the chief financial officer now directly owns 7,120 shares of the company’s stock, valued at approximately $1,424,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other WEX news, CFO Jagtar Narula sold 508 shares of WEX stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $200.00, for a total value of $101,600.00. Following the sale, the chief financial officer now owns 7,120 shares of the company’s stock, valued at $1,424,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ann Elena Drew sold 1,182 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $172.73, for a total transaction of $204,166.86. Following the completion of the sale, the insider now directly owns 5,584 shares in the company, valued at approximately $964,524.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,905 shares of company stock valued at $895,107 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

About WEX

(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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