News coverage about WEX (NYSE:WEX) has been trending somewhat positive this week, according to Accern Sentiment. Accern ranks the sentiment of news coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. WEX earned a media sentiment score of 0.08 on Accern’s scale. Accern also assigned media headlines about the business services provider an impact score of 45.3574911661837 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
A number of equities research analysts have commented on WEX shares. Oppenheimer raised their price target on WEX from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, November 2nd. SunTrust Banks raised WEX from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a report on Tuesday, October 17th. TheStreet raised WEX from a “c+” rating to a “b” rating in a report on Wednesday, November 1st. Zacks Investment Research raised WEX from a “hold” rating to a “buy” rating and set a $134.00 price target on the stock in a report on Friday, October 13th. Finally, Citigroup raised their price target on WEX from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $133.08.
Shares of WEX (NYSE WEX) traded down $0.20 during mid-day trading on Friday, hitting $144.80. The stock had a trading volume of 299,067 shares, compared to its average volume of 315,967. WEX has a 1 year low of $97.26 and a 1 year high of $146.74. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $6,130.00, a PE ratio of 72.76, a price-to-earnings-growth ratio of 1.69 and a beta of 1.87.
WEX (NYSE:WEX) last issued its earnings results on Wednesday, November 1st. The business services provider reported $1.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.14. WEX had a return on equity of 13.16% and a net margin of 7.09%. The firm had revenue of $324.00 million for the quarter, compared to analysts’ expectations of $312.57 million. During the same period in the previous year, the firm posted $1.25 earnings per share. The business’s revenue was up 12.6% compared to the same quarter last year. research analysts forecast that WEX will post 4.9 EPS for the current fiscal year.
WEX announced that its Board of Directors has initiated a stock buyback program on Tuesday, September 26th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
In other news, Director James Neary sold 177,207 shares of WEX stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $120.00, for a total value of $21,264,840.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Melissa D. Smith sold 3,329 shares of WEX stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $125.00, for a total value of $416,125.00. Following the completion of the sale, the chief executive officer now directly owns 60,380 shares in the company, valued at $7,547,500. The disclosure for this sale can be found here. Insiders sold 200,541 shares of company stock worth $24,235,190 over the last ninety days. Insiders own 9.00% of the company’s stock.
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WEX Company Profile
WEX Inc is a provider of corporate payment solutions. The Company operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment provides customers with payment and transaction processing services designed for the needs of commercial and government fleets.
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