WEX (NYSE:WEX) Issues Q4 2024 Earnings Guidance

WEX (NYSE:WEX) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 3.510-3.610 for the period, compared to the consensus EPS estimate of 4.280. The company issued revenue guidance of $630.0 million-$640.0 million, compared to the consensus revenue estimate of $674.5 million. WEX also updated its FY 2024 guidance to 15.210-15.310 EPS.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on WEX shares. William Blair upgraded WEX to a “strong-buy” rating in a research note on Friday, July 26th. Jefferies Financial Group upped their target price on WEX from $190.00 to $210.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Bank of America raised their price target on WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods cut their price objective on shares of WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Finally, Wells Fargo & Company raised their target price on shares of WEX from $190.00 to $200.00 and gave the company an “equal weight” rating in a report on Monday. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, WEX presently has an average rating of “Moderate Buy” and a consensus target price of $239.17.

WEX Trading Down 15.0 %

NYSE WEX traded down $31.93 on Thursday, hitting $181.11. The company’s stock had a trading volume of 2,471,640 shares, compared to its average volume of 352,900. The company’s 50-day moving average is $199.61 and its 200 day moving average is $195.12. The firm has a market cap of $7.44 billion, a PE ratio of 31.94, a PEG 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 quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.66.

WEX (NYSE:WEX) last posted its quarterly earnings data on Thursday, July 25th. The business services provider reported $3.29 earnings per share for the quarter, beating analysts’ consensus estimates of $3.20 by $0.09. The business 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%. As a group, analysts predict that WEX will post 13.68 earnings per share for the current fiscal year.

Insider Activity

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