WEX Inc. (NYSE:WEX) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.40-1.47 for the period, compared to the Thomson Reuters consensus estimate of $1.42. The company issued revenue guidance of $317-327 million, compared to the consensus revenue estimate of $310.70 million.
Shares of WEX Inc. (WEX) traded down 2.69% during midday trading on Wednesday, reaching $120.26. The company’s stock had a trading volume of 706,327 shares. WEX Inc. has a 1-year low of $97.26 and a 1-year high of $125.00. The firm has a market capitalization of $5.16 billion, a PE ratio of 72.53 and a beta of 1.79. The company’s 50-day moving average price is $116.41 and its 200 day moving average price is $108.01.
WEX (NYSE:WEX) last issued its earnings results on Wednesday, November 1st. The business services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.41 by $0.02. The company had revenue of $324.00 million during the quarter, compared to analyst estimates of $312.57 million. WEX had a return on equity of 13.03% and a net margin of 6.09%. The business’s revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. On average, equities research analysts forecast that WEX Inc. will post $5.31 earnings per share for the current year.
WEX declared that its Board of Directors has approved a stock repurchase program on Tuesday, September 26th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the business services provider to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.
Several analysts recently issued reports on WEX shares. Oppenheimer Holdings, Inc. reissued an outperform rating and issued a $120.00 price target on shares of WEX in a report on Thursday, August 10th. Mizuho reissued a buy rating and issued a $115.00 price target on shares of WEX in a report on Sunday, October 15th. Wedbush reissued an outperform rating on shares of WEX in a report on Friday, October 20th. Zacks Investment Research downgraded WEX from a hold rating to a sell rating in a report on Thursday, September 28th. Finally, SunTrust Banks, Inc. raised WEX from a hold rating to a buy rating and set a $145.00 price target on the stock in a report on Tuesday, October 17th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. WEX has an average rating of Buy and an average target price of $126.27.
In related news, CEO Melissa D. Smith sold 3,333 shares of WEX stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $115.00, for a total value of $383,295.00. Following the transaction, the chief executive officer now directly owns 67,047 shares in the company, valued at approximately $7,710,405. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Neary sold 2,390,000 shares of WEX stock in a transaction on Monday, August 14th. The stock was sold at an average price of $102.25, for a total value of $244,377,500.00. The disclosure for this sale can be found here. Insiders sold a total of 2,399,166 shares of company stock worth $245,448,255 over the last 90 days. Insiders own 0.86% 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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