WEX (NYSE:WEX) Releases FY24 Earnings Guidance

WEX (NYSE:WEX) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $16.10-16.60 for the period, compared to the consensus estimate of $16.26. The company issued revenue guidance of $2.73-2.77 billion, compared to the consensus revenue estimate of $2.73 billion. WEX also updated its Q2 guidance to $3.75-3.85 EPS.

Wall Street Analyst Weigh In

A number of research firms have issued reports on WEX. Mizuho lifted their price target on WEX from $225.00 to $235.00 and gave the company a buy rating in a research note on Tuesday, February 13th. Barclays lifted their price target on WEX from $255.00 to $280.00 and gave the company an overweight rating in a research note on Tuesday, April 16th. Truist Financial lifted their price target on WEX from $185.00 to $220.00 and gave the company a hold rating in a research note on Friday, February 9th. Evercore ISI lifted their price target on WEX from $250.00 to $275.00 and gave the company an outperform rating in a research note on Tuesday, March 26th. Finally, Robert W. Baird lifted their price target on WEX from $272.00 to $285.00 and gave the company an outperform rating in a research note on Monday, April 15th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $240.00.

WEX Trading Down 0.3 %

NYSE:WEX opened at $233.31 on Thursday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $9.74 billion, a PE ratio of 37.88, a price-to-earnings-growth ratio of 1.51 and a beta of 1.59. The firm’s 50 day moving average is $230.52 and its 200 day moving average is $203.29. WEX has a 12 month low of $161.95 and a 12 month high of $244.04.

WEX (NYSE:WEX) last posted its quarterly earnings results on Thursday, February 8th. The business services provider reported $3.14 EPS for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.15). The company had revenue of $663.30 million during the quarter, compared to the consensus estimate of $656.75 million. WEX had a return on equity of 31.33% and a net margin of 10.46%. Sell-side analysts expect that WEX will post 13.55 earnings per share for the current year.

Insider Buying and Selling

In other WEX news, SVP Sara Trickett sold 887 shares of the business’s 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other WEX news, CFO Jagtar Narula sold 309 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $233.24, for a total transaction of $72,071.16. Following the sale, the chief financial officer now owns 5,528 shares of the company’s stock, valued at approximately $1,289,350.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Sara Trickett sold 887 shares of the business’s 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 28,326 shares of company stock valued at $6,281,961. 1.10% of the stock is owned by company insiders.

About WEX

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.