Wall Street brokerages forecast that Wageworks Inc (NYSE:WAGE) will post $118.10 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Wageworks’ earnings, with the highest sales estimate coming in at $118.29 million and the lowest estimate coming in at $117.90 million. Wageworks reported sales of $116.51 million in the same quarter last year, which indicates a positive year-over-year growth rate of 1.4%. The business is expected to announce its next quarterly earnings results on Monday, March 16th.
On average, analysts expect that Wageworks will report full-year sales of $478.22 million for the current financial year, with estimates ranging from $477.53 million to $479.04 million. For the next financial year, analysts anticipate that the business will report sales of $496.26 million, with estimates ranging from $485.69 million to $503.19 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Wageworks.
Wageworks (NYSE:WAGE) last announced its quarterly earnings results on Friday, June 28th. The business services provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.10). Wageworks had a return on equity of 3.58% and a net margin of 4.10%. The business had revenue of $118.23 million during the quarter, compared to the consensus estimate of $126.19 million.
Hedge funds have recently bought and sold shares of the business. Royce & Associates LP grew its holdings in shares of Wageworks by 30.0% in the first quarter. Royce & Associates LP now owns 1,290 shares of the business services provider’s stock worth $49,000 after purchasing an additional 298 shares during the last quarter. Kavar Capital Partners LLC bought a new position in shares of Wageworks in the second quarter worth about $66,000. Hillsdale Investment Management Inc. bought a new position in shares of Wageworks in the second quarter worth about $102,000. Quantamental Technologies LLC grew its holdings in shares of Wageworks by 109.6% in the first quarter. Quantamental Technologies LLC now owns 4,587 shares of the business services provider’s stock worth $173,000 after purchasing an additional 2,399 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of Wageworks in the first quarter worth about $226,000. Institutional investors and hedge funds own 96.59% of the company’s stock.
WAGE stock remained flat at $$51.17 during mid-day trading on Friday. 535,875 shares of the company’s stock were exchanged, compared to its average volume of 698,955. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.32. Wageworks has a fifty-two week low of $25.15 and a fifty-two week high of $56.80. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 62.45 and a beta of 1.43. The company has a 50 day simple moving average of $51.16.
WageWorks, Inc is a leader in administering Consumer-Directed Benefits (CDBs). WageWorks is solely dedicated to administering CDBs, including pre-tax spending accounts, such as Health Savings Accounts (HSAs), health and dependent care Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), as well as Commuter Benefit Services, including transit and parking programs, wellness programs, COBRA, and other employee benefits.
Recommended Story: What is an overbought condition?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Wageworks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wageworks and related companies with MarketBeat.com's FREE daily email newsletter.