Brokerages expect that Wageworks Inc (NYSE:WAGE) will announce sales of $130.88 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Wageworks’ earnings, with the highest sales estimate coming in at $133.00 million and the lowest estimate coming in at $128.76 million. Wageworks reported sales of $125.01 million during the same quarter last year, which would suggest a positive year over year growth rate of 4.7%. The company is scheduled to issue its next earnings report on Thursday, June 28th.
On average, analysts expect that Wageworks will report full-year sales of $509.54 million for the current year, with estimates ranging from $499.06 million to $518.56 million. For the next year, analysts anticipate that the company will report sales of $543.54 million per share, with estimates ranging from $520.55 million to $566.38 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Wageworks.
A number of analysts have recently commented on WAGE shares. Stifel Nicolaus dropped their price objective on Wageworks from $80.00 to $64.00 and set a “buy” rating for the company in a report on Wednesday. William Blair started coverage on Wageworks in a report on Wednesday, May 30th. They set an “outperform” rating for the company. ValuEngine upgraded Wageworks from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 2nd. TheStreet downgraded Wageworks from a “b-” rating to a “c+” rating in a report on Wednesday, March 7th. Finally, SunTrust Banks lowered their price target on Wageworks to $62.00 and set a “buy” rating for the company in a report on Wednesday, May 23rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. Wageworks currently has a consensus rating of “Hold” and an average target price of $66.60.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quadrature Capital Ltd acquired a new stake in Wageworks in the 4th quarter valued at $648,000. Arizona State Retirement System increased its holdings in Wageworks by 223.7% in the 4th quarter. Arizona State Retirement System now owns 66,725 shares of the business services provider’s stock valued at $4,137,000 after purchasing an additional 46,110 shares in the last quarter. Segall Bryant & Hamill LLC increased its holdings in Wageworks by 25.6% in the 4th quarter. Segall Bryant & Hamill LLC now owns 200,853 shares of the business services provider’s stock valued at $12,453,000 after purchasing an additional 40,908 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Wageworks by 0.4% in the 4th quarter. Bank of New York Mellon Corp now owns 667,326 shares of the business services provider’s stock valued at $41,374,000 after purchasing an additional 2,480 shares in the last quarter. Finally, Macquarie Group Ltd. increased its holdings in Wageworks by 24.2% in the 4th quarter. Macquarie Group Ltd. now owns 830,054 shares of the business services provider’s stock valued at $51,463,000 after purchasing an additional 161,595 shares in the last quarter.
Shares of WAGE stock traded up $2.85 on Friday, reaching $50.10. 507,515 shares of the stock were exchanged, compared to its average volume of 450,352. The company has a market cap of $2.03 billion, a price-to-earnings ratio of 41.00, a PEG ratio of 1.96 and a beta of 0.97. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.41. Wageworks has a 1-year low of $38.40 and a 1-year high of $69.25.
WageWorks, Inc engages in administering consumer-directed benefits (CDBs), which empower employees to save money on taxes, as well as provides corporate tax advantages for employers in the United States. It administers CDBs, 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 offers commuter benefit services, including transit and parking programs, wellness programs, Consolidated Omnibus Budget Reconciliation Act, and other employee benefits.
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