WEX (NYSE:WEX) Issues Q4 Earnings Guidance

WEX (NYSE:WEX) issued an update on its fourth quarter earnings guidance on Thursday morning. 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 Performance

WEX traded down $2.28 during trading on Friday, hitting $178.85. The stock had a trading volume of 773,736 shares, compared to its average volume of 354,934. WEX has a twelve month low of $161.95 and a twelve month high of $244.04. The firm has a market capitalization of $7.35 billion, a P/E ratio of 31.33, a PEG ratio of 1.19 and a beta of 1.55. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.03 and a current ratio of 1.03. The company’s 50-day moving average price is $199.67 and its 200 day moving average price is $195.02.

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on WEX. Keefe, Bruyette & Woods reduced their price target on WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a report on Monday, July 8th. JPMorgan Chase & Co. reduced their target price on WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Wells Fargo & Company lowered their price target on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Friday. Robert W. Baird reduced their price objective on shares of WEX from $285.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Bank of America upped their target price on shares of WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $232.92.

Insider Transactions at WEX

In other WEX news, CFO Jagtar Narula sold 508 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $200.00, for a total value of $101,600.00. Following the transaction, the chief financial officer now directly owns 7,120 shares in the company, valued at approximately $1,424,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Robert Joseph Deshaies sold 1,651 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.67, for a total transaction of $299,937.17. Following the sale, the chief operating officer now owns 7,757 shares in the company, valued at $1,409,214.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 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. Insiders sold a total of 4,905 shares of company stock valued at $895,107 over the last three months. 1.10% of the stock is currently owned by 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.