WEX (NYSE:WEX) Issues Q4 Earnings Guidance

WEX (NYSE:WEX - Get Free Report) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $3.51-3.61 for the period, compared to the consensus estimate of $4.28. The company issued revenue guidance of $630-640 million, compared to the consensus revenue estimate of $676.03 million. WEX also updated its FY 2024 guidance to 15.210-15.310 EPS.

Wall Street Analyst Weigh In

WEX has been the subject of a number of recent analyst reports. Bank of America upped their price target on WEX from $238.00 to $255.00 and gave the company a "buy" rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. decreased their price objective on shares of WEX from $210.00 to $200.00 and set a "neutral" rating for the company in a report on Tuesday, August 20th. Wells Fargo & Company raised their price objective on shares of WEX from $190.00 to $200.00 and gave the stock an "equal weight" rating in a report on Monday. William Blair upgraded shares of WEX to a "strong-buy" rating in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of WEX from $275.00 to $230.00 and set an "outperform" rating on the stock in a research note on Monday, July 8th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, WEX currently has an average rating of "Moderate Buy" and an average price target of $239.17.

WEX Price Performance

NYSE:WEX traded down $31.93 during trading hours on Thursday, hitting $181.11. The company's stock had a trading volume of 2,471,640 shares, compared to its average volume of 352,900. WEX has a 52-week low of $161.95 and a 52-week high of $244.04. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $7.44 billion, a PE ratio of 31.33, a PEG ratio of 1.19 and a beta of 1.55. The business's 50-day moving average is $199.67 and its two-hundred day moving average is $195.02.

WEX (NYSE:WEX - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The business services provider reported $3.29 earnings per share for the quarter, beating analysts' consensus estimates of $3.20 by $0.09. The business had revenue of $673.50 million during the quarter, compared to analyst estimates of $677.44 million. WEX had a net margin of 9.32% and a return on equity of 31.05%. As a group, research analysts anticipate that WEX will post 13.68 EPS for the current fiscal year.

Insider Transactions at WEX

In related news, insider Ann Elena Drew sold 1,182 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $172.73, for a total transaction of $204,166.86. Following the completion of the sale, the insider now owns 5,584 shares of the company's stock, valued at approximately $964,524.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Jagtar Narula sold 508 shares of the company's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $200.00, for a total value of $101,600.00. Following the completion of the sale, the chief financial officer now owns 7,120 shares of the company's stock, valued at $1,424,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ann Elena Drew sold 1,182 shares of the firm's stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $172.73, for a total value of $204,166.86. Following the sale, the insider now owns 5,584 shares in the company, valued at approximately $964,524.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,905 shares of company stock worth $895,107 in the last three months. 1.10% of the stock is currently owned by company 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.