WEX (NYSE:WEX – Get Free Report) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $3.75-3.85 for the period, compared to the consensus estimate of $3.99. The company issued revenue guidance of $675-685 million, compared to the consensus revenue estimate of $676.33 million. WEX also updated its FY 2024 guidance to 16.100-16.600 EPS.
Analyst Ratings Changes
A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of WEX from $205.00 to $239.00 and gave the company a neutral rating in a research note on Friday, February 9th. Citigroup upped their price target on shares of WEX from $240.00 to $280.00 and gave the stock a buy rating in a research report on Wednesday, April 17th. TheStreet raised shares of WEX from a c rating to a b rating in a report on Thursday, February 8th. Evercore ISI upped their price target on WEX from $250.00 to $275.00 and gave the stock an outperform rating in a research note on Tuesday, March 26th. Finally, Barclays lifted their target price on WEX from $255.00 to $280.00 and gave the stock an overweight rating in a research report on Tuesday, April 16th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, WEX has an average rating of Moderate Buy and an average target price of $240.00.
Read Our Latest Analysis on WEX
WEX Price Performance
WEX (NYSE:WEX – Get Free Report) last released its quarterly earnings results on Thursday, February 8th. The business services provider reported $3.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.29 by ($0.15). WEX had a net margin of 10.21% and a return on equity of 30.92%. The business had revenue of $663.30 million for the quarter, compared to the consensus estimate of $656.75 million. On average, sell-side analysts predict that WEX will post 13.55 EPS for the current year.
Insider Activity
In other WEX news, insider Hilary A. Rapkin sold 5,800 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $222.55, for a total value of $1,290,790.00. Following the completion of the transaction, the insider now owns 10,569 shares in the company, valued at approximately $2,352,130.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Jennifer Kimball sold 574 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $222.24, for a total transaction of $127,565.76. Following the transaction, the chief accounting officer now directly owns 1,297 shares in the company, valued at approximately $288,245.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Hilary A. Rapkin sold 5,800 shares of WEX stock in a transaction on Friday, February 16th. The stock was sold at an average price of $222.55, for a total transaction of $1,290,790.00. Following the completion of the transaction, the insider now owns 10,569 shares in the company, valued at approximately $2,352,130.95. The disclosure for this sale can be found here. Insiders sold a total of 28,326 shares of company stock worth $6,281,961 in the last three months. Company 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.
Further Reading
- Five stocks we like better than WEX
- What is the S&P 500 and How It is Distinct from Other Indexes
- MarketBeat Week in Review – 4/22 – 4/26
- Basic Materials Stocks Investing
- 3 Stocks Leading the U.S. Agriculture Comeback
- Technology Stocks Explained: Here’s What to Know About Tech
- How to Use Put Debit Spreads to Profit From Falling Stocks
Receive News & Ratings for WEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEX and related companies with MarketBeat.com's FREE daily email newsletter.