Equities analysts expect that WEX Inc (NYSE:WEX) will announce sales of $324.74 million for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for WEX’s earnings, with the highest sales estimate coming in at $327.90 million and the lowest estimate coming in at $320.77 million. WEX posted sales of $290.84 million in the same quarter last year, which would indicate a positive year over year growth rate of 11.7%. The firm is scheduled to announce its next quarterly earnings report on Monday, February 12th.
On average, analysts expect that WEX will report full year sales of $324.74 million for the current financial year, with estimates ranging from $1.24 billion to $1.25 billion. For the next fiscal year, analysts expect that the firm will report sales of $1.40 billion per share, with estimates ranging from $1.37 billion to $1.44 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover WEX.
WEX (NYSE:WEX) last released its earnings results on Wednesday, November 1st. The business services provider reported $1.43 EPS for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.14. The company had revenue of $324.00 million for the quarter, compared to analysts’ expectations of $312.57 million. WEX had a return on equity of 13.16% and a net margin of 7.09%. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.25 EPS.
A number of equities research analysts recently issued reports on WEX shares. Oppenheimer boosted their price objective on WEX from $120.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, November 2nd. SunTrust Banks upgraded WEX from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research note on Tuesday, October 17th. Goldman Sachs Group upgraded WEX from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $114.00 to $126.00 in a research note on Monday, September 11th. TheStreet upgraded WEX from a “c+” rating to a “b” rating in a research note on Wednesday, November 1st. Finally, Zacks Investment Research upgraded WEX from a “hold” rating to a “buy” rating and set a $134.00 price objective on the stock in a research note on Friday, October 13th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $133.08.
WEX (NYSE WEX) traded up $0.33 during midday trading on Tuesday, hitting $144.93. The stock had a trading volume of 200,223 shares, compared to its average volume of 314,225. WEX has a 12 month low of $97.26 and a 12 month high of $146.74. The company has a market cap of $6,130.97, a PE ratio of 72.83, a price-to-earnings-growth ratio of 1.72 and a beta of 1.88. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.20.
WEX declared that its board has authorized a share buyback plan on Tuesday, September 26th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
In other news, insider Scott Robert Phillips sold 20,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $127.68, for a total transaction of $2,553,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Neary sold 177,207 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $120.00, for a total value of $21,264,840.00. The disclosure for this sale can be found here. Insiders have sold a total of 203,874 shares of company stock valued at $24,635,150 in the last ninety days. Insiders own 9.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio boosted its stake in WEX by 6.9% in the third quarter. Public Employees Retirement System of Ohio now owns 62,240 shares of the business services provider’s stock worth $6,985,000 after buying an additional 4,013 shares in the last quarter. GSA Capital Partners LLP boosted its stake in WEX by 21.5% in the third quarter. GSA Capital Partners LLP now owns 5,296 shares of the business services provider’s stock worth $594,000 after buying an additional 937 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in WEX by 8.6% in the third quarter. Neuberger Berman Group LLC now owns 1,669,854 shares of the business services provider’s stock worth $187,391,000 after buying an additional 132,453 shares in the last quarter. California Public Employees Retirement System boosted its stake in WEX by 2.9% in the third quarter. California Public Employees Retirement System now owns 62,871 shares of the business services provider’s stock worth $7,055,000 after buying an additional 1,771 shares in the last quarter. Finally, Janney Capital Management LLC boosted its stake in WEX by 45.8% in the third quarter. Janney Capital Management LLC now owns 3,611 shares of the business services provider’s stock worth $405,000 after buying an additional 1,134 shares in the last quarter.
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WEX Inc is a provider of corporate payment solutions. The Company operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment provides customers with payment and transaction processing services designed for the needs of commercial and government fleets.
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