WEX (NYSE:WEX) Releases FY 2024 Earnings Guidance

WEX (NYSE:WEX) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 15.210-15.310 for the period, compared to the consensus EPS estimate of 16.050. The company issued revenue guidance of $2.6 billion-$2.6 billion, compared to the consensus revenue estimate of $2.7 billion. WEX also updated its Q4 guidance to $3.51-3.61 EPS.

WEX Price Performance

WEX stock traded down $31.93 on Thursday, hitting $181.11. 2,471,640 shares of the company’s stock traded hands, compared to its average volume of 352,900. The stock has a market cap of $7.44 billion, a price-to-earnings ratio of 31.94, a P/E/G 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 company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.66. The stock has a fifty day moving average of $199.61 and a 200-day moving average of $195.12.

WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, July 25th. The business services provider reported $3.29 EPS for the quarter, beating analysts’ consensus estimates of $3.20 by $0.09. The company had revenue of $673.50 million during the quarter, compared to the consensus estimate of $677.44 million. WEX had a return on equity of 31.05% and a net margin of 9.32%. On average, analysts forecast that WEX will post 13.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

WEX has been the subject of a number of recent analyst reports. William Blair upgraded WEX to a “strong-buy” rating in a research report on Friday, July 26th. Jefferies Financial Group boosted their price objective on shares of WEX from $190.00 to $210.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. cut their target price on shares of WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. Wells Fargo & Company boosted their price target on shares of WEX from $190.00 to $200.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Bank of America increased their price objective on WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $239.17.

Insider Buying and Selling

In other WEX news, insider Ann Elena Drew sold 1,182 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $172.73, for a total value of $204,166.86. Following the completion of the sale, the insider now directly owns 5,584 shares of the company’s stock, valued at $964,524.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Ann Elena Drew sold 1,182 shares of the business’s stock in a transaction that occurred 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 transaction, the chief financial officer now owns 7,120 shares of the company’s stock, valued at $1,424,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,905 shares of company stock valued at $895,107. 1.10% of the stock is owned by company insiders.

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.