WEX (NYSE:WEX) Issues Q4 Earnings Guidance

WEX (NYSE:WEX) updated its fourth quarter earnings guidance on Thursday. The company provided EPS guidance of $3.51-3.61 for the period, compared to the consensus EPS estimate of $4.28. The company issued revenue guidance of $630-640 million, compared to the consensus revenue estimate of $676.03 million. WEX also updated its FY 2024 guidance to 15.210-15.310 EPS.

WEX Stock Down 15.0 %

NYSE:WEX traded down $31.93 during mid-day trading on Thursday, reaching $181.11. The stock had a trading volume of 2,471,640 shares, compared to its average volume of 352,900. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $7.44 billion, a price-to-earnings ratio of 31.33, a price-to-earnings-growth ratio of 1.19 and a beta of 1.55. WEX has a 1-year low of $161.95 and a 1-year high of $244.04. The stock’s 50 day simple moving average is $199.67 and its two-hundred day simple moving average is $195.02.

WEX (NYSE:WEX) last issued its earnings results on Thursday, July 25th. The business services provider reported $3.29 EPS for the quarter, topping the consensus estimate of $3.20 by $0.09. The company had revenue of $673.50 million during the quarter, compared to analyst estimates of $677.44 million. WEX had a return on equity of 31.05% and a net margin of 9.32%. Equities analysts anticipate that WEX will post 13.68 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group raised their price target on shares of WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. decreased their target price on WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a research note on Tuesday, August 20th. Keefe, Bruyette & Woods lowered their target price on WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a report on Monday, July 8th. William Blair upgraded WEX to a “strong-buy” rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company raised their target price on WEX from $190.00 to $200.00 and gave the company an “equal weight” rating in a research note on Monday. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $239.17.

Insider Activity at WEX

In other WEX news, insider Ann Elena Drew sold 1,182 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $172.73, for a total transaction of $204,166.86. Following the sale, the insider now directly owns 5,584 shares in the company, valued at approximately $964,524.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Ann Elena Drew sold 1,182 shares of WEX stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $172.73, for a total transaction of $204,166.86. Following the transaction, the insider now directly owns 5,584 shares in the company, valued at approximately $964,524.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jagtar Narula sold 508 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $200.00, for a total value of $101,600.00. Following the completion of the sale, the chief financial officer now owns 7,120 shares of the company’s stock, valued at approximately $1,424,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,905 shares of company stock worth $895,107 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

WEX Company Profile

WEX Inc operates a commerce platform in the United States and internationally. The Mobility segment offers fleet vehicle payment solutions, transaction processing, and information management services; and provides account activation and account retention services; authorization and billing inquiries, and account maintenance services; account management; credit and collections services; merchant services; analytics solutions; and ancillary services and offerings.