Equities research analysts expect that Wageworks Inc (NYSE:WAGE) will announce sales of $117.11 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Wageworks’ earnings, with estimates ranging from $116.20 million to $117.48 million. Wageworks reported sales of $88.92 million during the same quarter last year, which suggests a positive year-over-year growth rate of 31.7%. The company is expected to issue its next earnings results on Wednesday, November 8th.
According to Zacks, analysts expect that Wageworks will report full-year sales of $117.11 million for the current fiscal year, with estimates ranging from $481.00 million to $483.87 million. For the next year, analysts forecast that the firm will report sales of $525.33 million per share, with estimates ranging from $503.93 million to $531.37 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Wageworks.
Wageworks (NYSE:WAGE) last released its earnings results on Tuesday, August 1st. The business services provider reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.11). The company had revenue of $119.90 million for the quarter, compared to the consensus estimate of $119.18 million. Wageworks had a net margin of 15.94% and a return on equity of 15.06%. The business’s revenue was up 36.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 earnings per share.
Several analysts have recently weighed in on the stock. BidaskClub raised shares of Wageworks from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 28th. Needham & Company LLC reissued a “buy” rating and issued a $82.00 price target on shares of Wageworks in a research note on Friday, October 6th. Zacks Investment Research raised shares of Wageworks from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $85.00 price target on shares of Wageworks in a research note on Monday, July 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Wageworks currently has a consensus rating of “Hold” and a consensus price target of $80.30.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Summit Creek Advisors LLC grew its position in shares of Wageworks by 19.0% in the 3rd quarter. Summit Creek Advisors LLC now owns 271,193 shares of the business services provider’s stock valued at $16,461,000 after buying an additional 43,273 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of Wageworks in the 2nd quarter valued at $575,000. Ameritas Investment Partners Inc. grew its position in shares of Wageworks by 3.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,275 shares of the business services provider’s stock valued at $220,000 after buying an additional 122 shares during the last quarter. Nomura Holdings Inc. grew its position in shares of Wageworks by 185.9% in the 2nd quarter. Nomura Holdings Inc. now owns 8,406 shares of the business services provider’s stock valued at $564,000 after buying an additional 5,466 shares during the last quarter. Finally, DF Dent & Co. Inc. grew its position in shares of Wageworks by 13.2% in the 2nd quarter. DF Dent & Co. Inc. now owns 1,525,539 shares of the business services provider’s stock valued at $102,516,000 after buying an additional 178,133 shares during the last quarter.
Shares of Wageworks (WAGE) opened at 64.85 on Friday. The stock’s 50 day moving average price is $60.98 and its 200-day moving average price is $65.72. The company has a market capitalization of $2.57 billion, a P/E ratio of 59.22 and a beta of 0.84. Wageworks has a 52-week low of $55.80 and a 52-week high of $80.50.
WageWorks, Inc is engaged in administering Consumer-Directed Benefits (CDBs). The Company administers CBDs, including pre-tax spending accounts, such as Health Savings Accounts (HSAs), health and dependent care Flexible Spending Accounts (FSAs), and Health Reimbursement Arrangements (HRAs), as well as Commuter Benefit Services, including transit and parking programs, wellness programs, Consolidated Omnibus Budget Reconciliation Act (COBRA) and other employee benefits.
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