WEX Inc (NYSE:WEX) Expected to Post Earnings of $2.56 Per Share

Analysts expect that WEX Inc (NYSE:WEX) will announce earnings of $2.56 per share for the current quarter, according to Zacks. Eight analysts have provided estimates for WEX’s earnings. The highest EPS estimate is $2.60 and the lowest is $2.52. WEX posted earnings per share of $2.11 during the same quarter last year, which would indicate a positive year over year growth rate of 21.3%. The firm is scheduled to report its next earnings results on Wednesday, March 18th.

According to Zacks, analysts expect that WEX will report full-year earnings of $9.15 per share for the current financial year, with EPS estimates ranging from $9.11 to $9.18. For the next fiscal year, analysts expect that the business will post earnings of $10.50 per share, with EPS estimates ranging from $10.36 to $10.65. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for WEX.

WEX (NYSE:WEX) last issued its quarterly earnings results on Thursday, October 31st. The business services provider reported $2.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.35 by $0.24. The company had revenue of $459.96 million during the quarter, compared to the consensus estimate of $460.00 million. WEX had a return on equity of 18.86% and a net margin of 3.95%. WEX’s revenue was up 19.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.23 EPS.

WEX has been the subject of several analyst reports. SunTrust Banks cut their price target on WEX from $240.00 to $220.00 and set a “buy” rating for the company in a report on Friday, November 1st. Citigroup boosted their price target on WEX from $220.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday. Deutsche Bank boosted their price target on WEX from $226.00 to $250.00 and gave the company a “buy” rating in a report on Monday, December 16th. Wolfe Research set a $240.00 price target on WEX and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Robert W. Baird upgraded WEX from a “neutral” rating to an “outperform” rating and set a $234.00 price target for the company in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $234.87.

In other news, CFO Roberto Simon sold 7,651 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $200.03, for a total transaction of $1,530,429.53. Following the completion of the sale, the chief financial officer now directly owns 16,902 shares in the company, valued at approximately $3,380,907.06. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Melissa D. Smith sold 13,736 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $214.99, for a total value of $2,953,102.64. Following the sale, the chief executive officer now owns 71,339 shares of the company’s stock, valued at $15,337,171.61. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,152 shares of company stock valued at $5,226,127. Insiders own 1.12% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in WEX. Nuveen Asset Management LLC acquired a new stake in shares of WEX during the 2nd quarter worth $57,508,000. Invesco Ltd. increased its holdings in WEX by 877.0% in the 2nd quarter. Invesco Ltd. now owns 289,257 shares of the business services provider’s stock valued at $60,195,000 after purchasing an additional 259,651 shares in the last quarter. State of Michigan Retirement System increased its holdings in WEX by 496.3% in the 3rd quarter. State of Michigan Retirement System now owns 143,100 shares of the business services provider’s stock valued at $28,916,000 after purchasing an additional 119,100 shares in the last quarter. Eagle Asset Management Inc. increased its holdings in WEX by 26.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 278,172 shares of the business services provider’s stock valued at $56,210,000 after purchasing an additional 58,270 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in WEX by 1.5% in the 2nd quarter. BlackRock Inc. now owns 3,892,337 shares of the business services provider’s stock valued at $809,995,000 after purchasing an additional 56,101 shares in the last quarter. Institutional investors and hedge funds own 98.85% of the company’s stock.

WEX traded up $6.96 during trading on Tuesday, hitting $229.35. The company’s stock had a trading volume of 21,419 shares, compared to its average volume of 209,448. The firm’s 50 day moving average price is $210.90 and its 200-day moving average price is $205.71. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a market cap of $10.01 billion, a PE ratio of 152.88, a PEG ratio of 1.57 and a beta of 1.53. WEX has a twelve month low of $155.96 and a twelve month high of $227.27.

About WEX

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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