Analysts forecast that WEX Inc (NYSE:WEX) will announce $455.07 million in sales for the current quarter, according to Zacks. Eight analysts have provided estimates for WEX’s earnings, with the lowest sales estimate coming in at $452.90 million and the highest estimate coming in at $458.86 million. WEX reported sales of $381.20 million during the same quarter last year, which indicates a positive year over year growth rate of 19.4%. The firm is expected to report its next earnings results on Wednesday, March 18th.
On average, analysts expect that WEX will report full-year sales of $1.74 billion for the current financial year. For the next financial year, analysts forecast that the business will report sales of $1.92 billion, with estimates ranging from $1.91 billion to $1.94 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover WEX.
WEX (NYSE:WEX) last issued its earnings results on Thursday, October 31st. The business services provider reported $2.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.35 by $0.24. WEX had a return on equity of 18.86% and a net margin of 3.95%. The firm had revenue of $459.96 million for the quarter, compared to analysts’ expectations of $460.00 million. During the same quarter last year, the firm earned $2.23 earnings per share. The firm’s revenue for the quarter was up 19.0% compared to the same quarter last year.
WEX has been the topic of several research analyst reports. SunTrust Banks reduced their price objective on WEX from $240.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Wolfe Research set a $240.00 target price on shares of WEX and gave the stock a “buy” rating in a research report on Friday, November 1st. Raymond James began coverage on shares of WEX in a research report on Monday, September 30th. They set a “market perform” rating and a $260.00 target price for the company. Citigroup raised their price target on shares of WEX from $235.00 to $260.00 and gave the company a “buy” rating in a report on Monday, September 9th. Finally, Robert W. Baird raised shares of WEX from a “neutral” rating to an “outperform” rating and set a $234.00 price target on the stock in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. WEX presently has a consensus rating of “Buy” and a consensus price target of $227.87.
NYSE:WEX traded up $0.49 on Friday, hitting $197.08. 1,365 shares of the stock were exchanged, compared to its average volume of 314,373. The stock has a fifty day moving average of $198.83 and a 200-day moving average of $203.09. The stock has a market cap of $8.66 billion, a PE ratio of 25.77, a PEG ratio of 1.66 and a beta of 1.56. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.46. WEX has a fifty-two week low of $131.35 and a fifty-two week high of $221.66.
In other WEX news, insider Nicola S. Morris sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $197.60, for a total value of $592,800.00. Following the completion of the transaction, the insider now owns 8,383 shares in the company, valued at approximately $1,656,480.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Regina O. Sommer sold 765 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $195.81, for a total value of $149,794.65. Following the completion of the transaction, the director now owns 12,850 shares of the company’s stock, valued at approximately $2,516,158.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,416 shares of company stock worth $2,273,024. Company insiders own 1.12% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Cullen Frost Bankers Inc. bought a new position in WEX during the 3rd quarter valued at $25,000. Atlantic Trust LLC grew its holdings in WEX by 40.8% during the 2nd quarter. Atlantic Trust LLC now owns 169 shares of the business services provider’s stock worth $35,000 after acquiring an additional 49 shares in the last quarter. Quest Capital Management Inc. ADV acquired a new position in WEX during the 3rd quarter worth $76,000. Advisory Services Network LLC increased its position in shares of WEX by 30.6% in the 2nd quarter. Advisory Services Network LLC now owns 529 shares of the business services provider’s stock worth $110,000 after purchasing an additional 124 shares during the last quarter. Finally, Nvwm LLC bought a new stake in shares of WEX in the 3rd quarter worth about $134,000. 99.41% of the stock is currently owned by institutional investors and hedge funds.
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 processing services.
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