Equities research analysts predict that WEX Inc (NYSE:WEX) will report sales of $372.47 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for WEX’s earnings, with the lowest sales estimate coming in at $366.55 million and the highest estimate coming in at $374.90 million. WEX reported sales of $331.31 million in the same quarter last year, which would suggest a positive year over year growth rate of 12.4%. The company is expected to issue its next quarterly earnings results on Wednesday, February 20th.
According to Zacks, analysts expect that WEX will report full year sales of $1.48 billion for the current year, with estimates ranging from $1.47 billion to $1.49 billion. For the next financial year, analysts forecast that the firm will report sales of $1.68 billion, with estimates ranging from $1.63 billion to $1.73 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover WEX.
WEX (NYSE:WEX) last posted its earnings results on Wednesday, October 31st. The business services provider reported $2.19 EPS for the quarter, beating the consensus estimate of $2.12 by $0.07. The firm had revenue of $382.70 million for the quarter, compared to analyst estimates of $375.15 million. WEX had a return on equity of 16.92% and a net margin of 15.63%. WEX’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.43 earnings per share.
Several equities analysts have issued reports on WEX shares. Zacks Investment Research lowered WEX from a “buy” rating to a “hold” rating in a report on Monday. Barclays started coverage on WEX in a report on Wednesday, November 14th. They set an “overweight” rating and a $211.00 price objective on the stock. ValuEngine lowered WEX from a “buy” rating to a “hold” rating in a report on Tuesday, November 6th. Deutsche Bank reaffirmed a “buy” rating and set a $186.00 price objective on shares of WEX in a report on Wednesday, November 21st. Finally, Wells Fargo & Co raised WEX from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $190.00 to $200.00 in a report on Thursday, November 1st. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. WEX has a consensus rating of “Buy” and an average target price of $198.50.
Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of WEX by 3.0% during the third quarter. Vanguard Group Inc. now owns 3,840,898 shares of the business services provider’s stock worth $771,098,000 after buying an additional 111,362 shares during the last quarter. BlackRock Inc. grew its holdings in shares of WEX by 6.8% during the third quarter. BlackRock Inc. now owns 3,720,426 shares of the business services provider’s stock worth $746,912,000 after buying an additional 236,285 shares during the last quarter. William Blair Investment Management LLC grew its holdings in shares of WEX by 2.6% during the third quarter. William Blair Investment Management LLC now owns 1,054,791 shares of the business services provider’s stock worth $211,760,000 after buying an additional 26,661 shares during the last quarter. Frontier Capital Management Co. LLC grew its holdings in shares of WEX by 1.6% during the third quarter. Frontier Capital Management Co. LLC now owns 882,349 shares of the business services provider’s stock worth $177,140,000 after buying an additional 13,890 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of WEX by 31.6% during the third quarter. Victory Capital Management Inc. now owns 658,395 shares of the business services provider’s stock worth $132,180,000 after buying an additional 158,212 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors.
NYSE:WEX traded down $0.93 during trading hours on Friday, hitting $152.55. The company’s stock had a trading volume of 12,453 shares, compared to its average volume of 485,632. The firm has a market capitalization of $6.62 billion, a PE ratio of 32.40, a price-to-earnings-growth ratio of 1.35 and a beta of 1.70. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.50 and a quick ratio of 1.50. WEX has a 52-week low of $128.00 and a 52-week high of $203.49.
WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment and processing services.
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