WEX Inc (WEX) Expected to Post Quarterly Sales of $379.20 Million

Analysts expect WEX Inc (NYSE:WEX) to post sales of $379.20 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for WEX’s earnings, with estimates ranging from $377.10 million to $383.57 million. WEX reported sales of $354.83 million in the same quarter last year, which indicates a positive year-over-year growth rate of 6.9%. The company is scheduled to report its next quarterly earnings report on Thursday, May 2nd.

According to Zacks, analysts expect that WEX will report full-year sales of $1.70 billion for the current year, with estimates ranging from $1.65 billion to $1.72 billion. For the next year, analysts expect that the business will post sales of $1.89 billion, with estimates ranging from $1.86 billion to $1.92 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover WEX.

WEX (NYSE:WEX) last posted its quarterly earnings results on Wednesday, March 20th. The business services provider reported $1.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.93 by $0.01. The firm had revenue of $381.20 million for the quarter, compared to analyst estimates of $372.57 million. WEX had a net margin of 11.18% and a return on equity of 18.30%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.49 earnings per share.

A number of equities analysts have weighed in on the company. Robert W. Baird initiated coverage on WEX in a research report on Thursday. They set a “neutral” rating and a $220.00 price target on the stock. BTIG Research set a $225.00 price objective on WEX and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Morgan Stanley lifted their target price on WEX from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research note on Friday, March 22nd. SunTrust Banks boosted their target price on WEX from $170.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, Mizuho boosted their target price on WEX from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. WEX has a consensus rating of “Buy” and a consensus price target of $201.42.

In other news, insider Nicola S. Morris sold 992 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $184.05, for a total transaction of $182,577.60. Following the transaction, the insider now owns 11,848 shares in the company, valued at $2,180,624.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David G. Cooper sold 167 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $186.05, for a total value of $31,070.35. Following the transaction, the insider now owns 14,674 shares in the company, valued at approximately $2,730,097.70. The disclosure for this sale can be found here. Insiders have sold 6,244 shares of company stock valued at $1,204,713 over the last 90 days. Company insiders own 4.57% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its position in shares of WEX by 281.7% in the third quarter. Renaissance Technologies LLC now owns 66,800 shares of the business services provider’s stock valued at $13,411,000 after acquiring an additional 49,300 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of WEX by 14.5% in the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,204,643 shares of the business services provider’s stock valued at $231,279,000 after acquiring an additional 152,398 shares in the last quarter. Ipswich Investment Management Co. Inc. bought a new position in WEX during the fourth quarter worth about $32,000. Advisors Capital Management LLC bought a new position in WEX during the fourth quarter worth about $363,000. Finally, Texas Permanent School Fund increased its position in WEX by 4.0% during the fourth quarter. Texas Permanent School Fund now owns 28,206 shares of the business services provider’s stock worth $3,951,000 after acquiring an additional 1,092 shares during the period. Institutional investors and hedge funds own 99.07% of the company’s stock.

WEX stock traded up $1.67 during midday trading on Monday, reaching $199.50. 207,073 shares of the company’s stock were exchanged, compared to its average volume of 389,698. WEX has a 52 week low of $131.35 and a 52 week high of $203.49. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a market capitalization of $8.53 billion, a P/E ratio of 26.11, a PEG ratio of 1.57 and a beta of 1.52.

About WEX

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 processing services.

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Earnings History and Estimates for WEX (NYSE:WEX)

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