WEX (NYSE:WEX) Updates Q2 Earnings Guidance

WEX (NYSE:WEX) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $3.75-3.85 for the period, compared to the consensus EPS estimate of $3.99. The company issued revenue guidance of $675-685 million, compared to the consensus revenue estimate of $676.33 million. WEX also updated its FY24 guidance to $16.10-16.60 EPS.

WEX Price Performance

WEX stock opened at $233.31 on Thursday. The company has a market cap of $9.74 billion, a price-to-earnings ratio of 37.88, a PEG ratio of 1.51 and a beta of 1.59. The firm’s fifty day moving average is $230.52 and its 200 day moving average is $203.29. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.55. WEX has a 52-week low of $161.95 and a 52-week high of $244.04.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on WEX shares. StockNews.com cut shares of WEX from a buy rating to a hold rating in a report on Tuesday, March 26th. Evercore ISI raised their price target on shares of WEX from $250.00 to $275.00 and gave the company an outperform rating in a report on Tuesday, March 26th. Robert W. Baird raised their price target on shares of WEX from $272.00 to $285.00 and gave the company an outperform rating in a report on Monday, April 15th. TheStreet raised shares of WEX from a c rating to a b rating in a research report on Thursday, February 8th. Finally, Barclays increased their price objective on shares of WEX from $255.00 to $280.00 and gave the company an overweight rating in a research report on Tuesday, April 16th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $240.00.

Insiders Place Their Bets

In other WEX news, insider Hilary A. Rapkin sold 5,800 shares of WEX stock in a transaction on Friday, February 16th. The shares were sold at an average price of $222.55, for a total transaction of $1,290,790.00. Following the sale, the insider now owns 10,569 shares of the company’s stock, valued at approximately $2,352,130.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other WEX news, SVP Sara Trickett sold 887 shares of WEX 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 the SEC website. Also, insider Hilary A. Rapkin sold 5,800 shares of WEX stock in a transaction on Friday, February 16th. The stock was sold at an average price of $222.55, for a total transaction of $1,290,790.00. Following the sale, the insider now directly owns 10,569 shares in the company, valued at approximately $2,352,130.95. The disclosure for this sale can be found here. Insiders have sold a total of 28,326 shares of company stock valued at $6,281,961 in the last 90 days. 1.10% of the stock is 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.