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 earnings per share (EPS) guidance of 16.100-16.600 for the period, compared to the consensus estimate of 16.250. The company issued revenue guidance of $2.7 billion-$2.8 billion, compared to the consensus revenue estimate of $2.7 billion. WEX also updated its FY24 guidance to $16.10-16.60 EPS.

WEX Price Performance

Shares of WEX stock traded up $1.55 on Friday, reaching $216.58. 427,462 shares of the stock were exchanged, compared to its average volume of 272,318. The firm’s 50 day moving average is $230.59 and its 200-day moving average is $203.78. WEX has a one year low of $161.95 and a one year high of $244.04. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.05 and a current ratio of 1.06. The firm has a market cap of $9.07 billion, a PE ratio of 35.22, a P/E/G ratio of 1.39 and a beta of 1.59.

WEX (NYSE:WEX) last issued its quarterly earnings results on Thursday, February 8th. The business services provider reported $3.14 earnings per share for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.15). WEX had a return on equity of 30.92% and a net margin of 10.21%. The firm had revenue of $663.30 million for the quarter, compared to the consensus estimate of $656.75 million. As a group, analysts anticipate that WEX will post 13.55 EPS for the current fiscal year.

Analysts Set New Price Targets

WEX has been the subject of a number of research analyst reports. Truist Financial upped their price objective on shares of WEX from $185.00 to $220.00 and gave the stock a hold rating in a research report on Friday, February 9th. TheStreet upgraded shares of WEX from a c rating to a b rating in a research report on Thursday, February 8th. William Blair reiterated an outperform rating on shares of WEX in a research report on Thursday, February 8th. Citigroup upped their price objective 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. Finally, StockNews.com cut shares of WEX from a buy rating to a hold rating in a research report on Tuesday, March 26th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, WEX has a consensus rating of Moderate Buy and a consensus target price of $240.00.

Insider Buying and Selling at WEX

In other news, CAO Jennifer Kimball sold 574 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $222.24, for a total transaction of $127,565.76. Following the completion of the sale, the chief accounting officer now directly owns 1,297 shares in the company, valued at $288,245.28. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, SVP Sara Trickett sold 887 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $224.61, for a total transaction of $199,229.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jennifer Kimball sold 574 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $222.24, for a total transaction of $127,565.76. Following the sale, the chief accounting officer now owns 1,297 shares of the company’s stock, valued at $288,245.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,326 shares of company stock worth $6,281,961. 1.10% of the stock is currently 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.