WEX Inc (WEX) Expected to Announce Earnings of $1.72 Per Share

Wall Street analysts forecast that WEX Inc (NYSE:WEX) will post earnings of $1.72 per share for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for WEX’s earnings. The lowest EPS estimate is $1.67 and the highest is $1.97. WEX posted earnings of $1.81 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 5%. The business is expected to issue its next quarterly earnings report on Thursday, May 2nd.

According to Zacks, analysts expect that WEX will report full-year earnings of $9.04 per share for the current year, with EPS estimates ranging from $8.92 to $9.16. For the next financial year, analysts expect that the business will report earnings of $10.53 per share, with EPS estimates ranging from $10.33 to $10.65. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms 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, beating the consensus estimate of $1.93 by $0.01. The business had revenue of $381.20 million for the quarter, compared to analysts’ expectations of $372.57 million. WEX had a return on equity of 18.30% and a net margin of 11.18%. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.49 earnings per share.

Several equities analysts recently issued reports on WEX shares. Zacks Investment Research cut WEX from a “hold” rating to a “sell” rating in a report on Sunday, January 6th. BTIG Research started coverage on WEX in a report on Thursday, January 17th. They issued a “buy” rating and a $198.00 price target on the stock. William Blair reiterated an “outperform” rating on shares of WEX in a report on Thursday, March 21st. Wolfe Research upgraded WEX from a “market perform” rating to an “outperform” rating in a report on Friday, January 4th. Finally, Morgan Stanley raised their price target on WEX from $190.00 to $197.00 and gave the company an “equal weight” rating in a report on Friday, March 22nd. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $197.27.

In other WEX news, insider David G. Cooper sold 167 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $186.05, for a total transaction of $31,070.35. Following the transaction, the insider now owns 14,674 shares in the company, valued at $2,730,097.70. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Nicola S. Morris sold 992 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $184.05, for a total value of $182,577.60. Following the transaction, the insider now owns 11,848 shares in the company, valued at approximately $2,180,624.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,244 shares of company stock worth $229,713. Company insiders own 4.57% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in shares of WEX by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 405,047 shares of the business services provider’s stock valued at $56,730,000 after purchasing an additional 23,136 shares in the last quarter. Fulcrum Equity Management bought a new position in shares of WEX during the 4th quarter valued at about $680,000. Norges Bank bought a new position in shares of WEX during the 4th quarter valued at about $32,492,000. O Brien Greene & Co. Inc bought a new position in shares of WEX during the 4th quarter valued at about $238,000. Finally, FMR LLC lifted its holdings in shares of WEX by 124.1% during the 4th quarter. FMR LLC now owns 398,482 shares of the business services provider’s stock valued at $55,811,000 after purchasing an additional 220,688 shares in the last quarter. Hedge funds and other institutional investors own 99.01% of the company’s stock.

WEX stock traded up $0.91 during mid-day trading on Friday, hitting $191.99. The stock had a trading volume of 396,862 shares, compared to its average volume of 359,272. The stock has a market cap of $8.24 billion, a price-to-earnings ratio of 25.13, a P/E/G ratio of 1.51 and a beta of 1.51. WEX has a 12 month low of $131.35 and a 12 month high of $203.49. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.19.

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 and processing services.

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Earnings History and Estimates for WEX (NYSE:WEX)

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