Zacks: Brokerages Anticipate WEX Inc (NYSE:WEX) Will Announce Earnings of $2.60 Per Share

Wall Street analysts expect WEX Inc (NYSE:WEX) to post $2.60 earnings per share for the current quarter, according to Zacks. Eight analysts have made estimates for WEX’s earnings. The highest EPS estimate is $2.71 and the lowest is $2.56. WEX posted earnings of $2.19 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 18.7%. The firm is scheduled to issue its next earnings report on Wednesday, October 30th.

According to Zacks, analysts expect that WEX will report full year earnings of $9.25 per share for the current fiscal year, with EPS estimates ranging from $9.22 to $9.31. For the next financial year, analysts expect that the firm will post earnings of $10.75 per share, with EPS estimates ranging from $10.23 to $10.97. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that cover WEX.

WEX (NYSE:WEX) last released its quarterly earnings data on Thursday, August 1st. The business services provider reported $2.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.08 by $0.20. The business had revenue of $441.81 million during the quarter, compared to analysts’ expectations of $440.49 million. WEX had a net margin of 6.84% and a return on equity of 17.88%. The company’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.07 EPS.



Several research firms have recently weighed in on WEX. Morgan Stanley upped their target price on shares of WEX from $197.00 to $204.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Zacks Investment Research raised shares of WEX from a “hold” rating to a “buy” rating and set a $214.00 target price on the stock in a report on Saturday, June 15th. Jefferies Financial Group upped their target price on shares of WEX from $210.00 to $230.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Deutsche Bank upped their price target on shares of WEX from $209.00 to $223.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Finally, Citigroup set a $260.00 price target on shares of WEX and gave the stock a “buy” rating in a research report on Friday, July 19th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $223.00.

Shares of WEX traded down $8.50 during trading hours on Wednesday, hitting $196.50. The stock had a trading volume of 208,769 shares, compared to its average volume of 334,012. The company’s fifty day moving average price is $210.15. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.42 and a quick ratio of 1.39. WEX has a 52 week low of $131.35 and a 52 week high of $221.66. The stock has a market capitalization of $8.68 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 1.64 and a beta of 1.55.

In related news, Director Rowland Moriarty sold 2,500 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $202.13, for a total value of $505,325.00. Following the sale, the director now directly owns 38,032 shares in the company, valued at approximately $7,687,408.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Hilary A. Rapkin sold 1,096 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $203.27, for a total transaction of $222,783.92. Following the completion of the sale, the insider now owns 12,622 shares in the company, valued at $2,565,673.94. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,942 shares of company stock worth $3,668,316. 1.12% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in WEX. Point72 Hong Kong Ltd purchased a new stake in shares of WEX in the 2nd quarter valued at about $160,000. Point72 Asset Management L.P. grew its stake in shares of WEX by 544.0% in the second quarter. Point72 Asset Management L.P. now owns 229,985 shares of the business services provider’s stock worth $47,860,000 after acquiring an additional 194,273 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of WEX by 4.8% in the second quarter. California State Teachers Retirement System now owns 68,444 shares of the business services provider’s stock worth $14,243,000 after acquiring an additional 3,155 shares in the last quarter. Marshall Wace LLP grew its stake in shares of WEX by 7.8% in the second quarter. Marshall Wace LLP now owns 38,232 shares of the business services provider’s stock worth $7,957,000 after acquiring an additional 2,764 shares in the last quarter. Finally, Morgan Stanley grew its stake in shares of WEX by 15.9% in the second quarter. Morgan Stanley now owns 36,835 shares of the business services provider’s stock worth $7,665,000 after acquiring an additional 5,040 shares in the last quarter. Institutional investors and hedge funds own 98.79% of the company’s stock.

WEX Company Profile

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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Earnings History and Estimates for WEX (NYSE:WEX)

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