Analysts expect that WEX Inc. (NYSE:WEX) will post sales of $339.47 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for WEX’s earnings, with the lowest sales estimate coming in at $337.40 million and the highest estimate coming in at $341.60 million. WEX posted sales of $291.36 million in the same quarter last year, which suggests a positive year-over-year growth rate of 16.5%. The business is scheduled to report its next earnings report on Thursday, April 26th.
On average, analysts expect that WEX will report full year sales of $1.43 billion for the current year, with estimates ranging from $1.42 billion to $1.45 billion. For the next financial year, analysts forecast that the firm will post sales of $1.57 billion per share, with estimates ranging from $1.55 billion to $1.61 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow WEX.
WEX (NYSE:WEX) last announced its quarterly earnings data on Wednesday, February 21st. The business services provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.16. WEX had a return on equity of 13.01% and a net margin of 12.82%. The company had revenue of $331.30 million for the quarter, compared to analysts’ expectations of $327.19 million. During the same quarter in the prior year, the business posted $1.28 EPS. The business’s revenue was up 13.9% compared to the same quarter last year.
A number of research firms recently weighed in on WEX. Morgan Stanley reissued an “equal weight” rating and set a $159.00 target price (up from $149.00) on shares of WEX in a report on Thursday, February 22nd. SunTrust Banks set a $160.00 target price on WEX and gave the stock a “buy” rating in a report on Friday, February 16th. Oppenheimer boosted their target price on WEX from $130.00 to $176.00 in a report on Monday, February 5th. Barclays reissued an “equal weight” rating and set a $170.00 target price (up from $163.00) on shares of WEX in a report on Thursday, February 22nd. Finally, Credit Suisse Group reissued an “outperform” rating and set a $167.00 target price (up from $141.00) on shares of WEX in a report on Wednesday, January 17th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $149.86.
Shares of WEX stock traded up $0.47 during trading on Friday, reaching $162.46. 143,806 shares of the company’s stock were exchanged, compared to its average volume of 352,199. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $6,891.57, a PE ratio of 32.68, a PEG ratio of 1.60 and a beta of 1.79. WEX has a twelve month low of $97.26 and a twelve month high of $163.91.
In other WEX news, insider Nicola S. Morris sold 2,700 shares of the company’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $149.47, for a total value of $403,569.00. Following the transaction, the insider now directly owns 6,387 shares of the company’s stock, valued at approximately $954,664.89. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 9.00% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of WEX. First Mercantile Trust Co. bought a new position in shares of WEX in the fourth quarter valued at approximately $191,000. Private Advisor Group LLC bought a new position in shares of WEX in the fourth quarter valued at approximately $212,000. Advisory Services Network LLC lifted its holdings in shares of WEX by 4,540.6% in the fourth quarter. Advisory Services Network LLC now owns 1,485 shares of the business services provider’s stock valued at $210,000 after purchasing an additional 1,453 shares in the last quarter. CIBC Asset Management Inc bought a new stake in WEX during the fourth quarter worth $211,000. Finally, Cigna Investments Inc. New bought a new stake in WEX during the fourth quarter worth $219,000.
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WEX Company Profile
WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment and processing services.
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