WEX (WEX) Updates Q4 Earnings Guidance

WEX (NYSE:WEX) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.05-$2.15 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.11. The company issued revenue guidance of $370-$380 million, compared to the consensus revenue estimate of $372.51 million.WEX also updated its FY 2018 guidance to $8.13-8.23 EPS.

Shares of NYSE WEX traded up $8.23 during mid-day trading on Wednesday, hitting $175.96. The company had a trading volume of 749,500 shares, compared to its average volume of 361,660. The stock has a market cap of $7.43 billion, a P/E ratio of 37.44, a PEG ratio of 1.47 and a beta of 1.71. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 1.19. WEX has a 1-year low of $118.40 and a 1-year high of $203.49.

WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, August 2nd. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.04. The business had revenue of $370.88 million for the quarter, compared to analysts’ expectations of $366.21 million. WEX had a return on equity of 15.61% and a net margin of 14.61%. The company’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period last year, the firm earned $1.26 earnings per share. On average, equities analysts forecast that WEX will post 7.59 EPS for the current fiscal year.

Several analysts have recently issued reports on WEX shares. Wolfe Research started coverage on WEX in a research note on Tuesday, July 17th. They issued a market perform rating on the stock. Citigroup raised their price target on WEX from $200.00 to $235.00 and gave the company a buy rating in a research note on Friday, July 20th. SunTrust Banks restated a buy rating and issued a $215.00 price target on shares of WEX in a research note on Friday, August 3rd. Morgan Stanley raised their price target on WEX from $188.00 to $190.00 and gave the company a hold rating in a research note on Friday, August 3rd. Finally, Zacks Investment Research upgraded WEX from a hold rating to a buy rating and set a $211.00 price target on the stock in a research note on Saturday, October 13th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $194.80.

In other WEX news, insider Hilary A. Rapkin sold 3,723 shares of the firm’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $188.57, for a total value of $702,046.11. Following the sale, the insider now directly owns 12,544 shares in the company, valued at $2,365,422.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Roberto Simon sold 4,137 shares of the firm’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $189.05, for a total value of $782,099.85. Following the completion of the sale, the chief financial officer now owns 9,921 shares in the company, valued at $1,875,565.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,335 shares of company stock worth $3,461,862. 4.57% of the stock is owned by insiders.

WEX Company Profile

WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment and processing services.

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Earnings History and Estimates for WEX (NYSE:WEX)

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