WEX Inc (NYSE:WEX) – Stock analysts at SunTrust Banks boosted their Q4 2017 EPS estimates for WEX in a research report issued on Friday, Zacks Investment Research reports. SunTrust Banks analyst O. Turner now forecasts that the business services provider will post earnings per share of $1.30 for the quarter, up from their previous forecast of $1.29. SunTrust Banks currently has a “Buy” rating and a $175.00 target price on the stock. SunTrust Banks also issued estimates for WEX’s Q4 2018 earnings at $1.71 EPS.
WEX (NYSE:WEX) last released its quarterly earnings results on Wednesday, February 21st. The business services provider reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.16. The firm had revenue of $331.30 million during the quarter, compared to analyst estimates of $327.19 million. WEX had a net margin of 12.82% and a return on equity of 13.01%. The company’s revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.28 EPS.
Several other brokerages also recently commented on WEX. Oppenheimer raised their price objective on shares of WEX from $130.00 to $176.00 in a research report on Monday, February 5th. Zacks Investment Research downgraded shares of WEX from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Barclays reissued an “equal weight” rating and issued a $170.00 price target (up previously from $163.00) on shares of WEX in a research report on Thursday, February 22nd. Wells Fargo & Co set a $160.00 price target on shares of WEX and gave the company a “hold” rating in a research report on Thursday, February 22nd. Finally, Morgan Stanley lifted their price target on shares of WEX from $159.00 to $166.00 and gave the company an “equal weight” rating in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. WEX has a consensus rating of “Buy” and a consensus price target of $149.86.
Shares of WEX (NYSE WEX) traded up $0.88 during mid-day trading on Monday, hitting $158.66. 379,773 shares of the stock traded hands, compared to its average volume of 424,814. The firm has a market cap of $6,830.00, a P/E ratio of 145.56, a price-to-earnings-growth ratio of 1.60 and a beta of 1.87. WEX has a one year low of $97.26 and a one year high of $161.06. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.20.
A number of hedge funds have recently bought and sold shares of the business. HighTower Advisors LLC purchased a new position in shares of WEX during the second quarter worth about $289,000. Mutual of America Capital Management LLC grew its holdings in shares of WEX by 1.5% during the third quarter. Mutual of America Capital Management LLC now owns 32,432 shares of the business services provider’s stock worth $3,640,000 after purchasing an additional 472 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of WEX by 13.3% during the third quarter. JPMorgan Chase & Co. now owns 3,993,322 shares of the business services provider’s stock worth $452,522,000 after purchasing an additional 468,452 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of WEX by 7.9% during the third quarter. Schwab Charles Investment Management Inc. now owns 206,735 shares of the business services provider’s stock worth $23,200,000 after purchasing an additional 15,109 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of WEX by 2.2% during the second quarter. The Manufacturers Life Insurance Company now owns 56,917 shares of the business services provider’s stock worth $5,935,000 after purchasing an additional 1,211 shares in the last quarter.
In other news, insider Nicola S. Morris sold 2,700 shares of WEX stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $149.47, for a total transaction of $403,569.00. Following the sale, the insider now directly owns 6,387 shares in the company, valued at approximately $954,664.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 9.00% of the company’s stock.
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WEX Company Profile
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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