WEX (NYSE:WEX – Get Free Report) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $4.42-4.52 for the period, compared to the consensus estimate of $4.47. The company issued revenue guidance of $688-698 million, compared to the consensus revenue estimate of $705.97 million. WEX also updated its FY 2024 guidance to 15.980-16.380 EPS.
Analyst Ratings Changes
A number of equities analysts recently commented on the stock. Barclays boosted their price objective on shares of WEX from $255.00 to $280.00 and gave the stock an overweight rating in a research note on Tuesday, April 16th. Jefferies Financial Group upped their target price on WEX from $235.00 to $240.00 and gave the company a hold rating in a research report on Friday, April 12th. Keefe, Bruyette & Woods lowered their price target on shares of WEX from $275.00 to $230.00 and set an outperform rating on the stock in a report on Monday, July 8th. JPMorgan Chase & Co. lowered their price target on shares of WEX from $246.00 to $210.00 and set a neutral rating on the stock in a report on Friday, July 12th. Finally, Wells Fargo & Company lowered their target price on shares of WEX from $200.00 to $190.00 and set an equal weight rating on the stock in a research note on Friday. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $238.08.
WEX Price Performance
WEX (NYSE:WEX – Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The business services provider reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.15. The business had revenue of $652.70 million during the quarter, compared to analyst estimates of $653.52 million. WEX had a net margin of 10.21% and a return on equity of 30.92%. As a group, research analysts predict that WEX will post 13.94 EPS for the current year.
Insider Activity
In other news, SVP Sara Trickett sold 734 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $210.43, for a total value of $154,455.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Robert Joseph Deshaies sold 1,897 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $211.01, for a total transaction of $400,285.97. Following the completion of the transaction, the chief operating officer now owns 9,408 shares of the company’s stock, valued at $1,985,182.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Sara Trickett sold 734 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $210.43, for a total transaction of $154,455.62. The disclosure for this sale can be found here. Insiders sold a total of 4,911 shares of company stock valued at $1,008,402 over the last 90 days. 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.
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