WEX (NYSE:WEX – Get Free Report) updated its third quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 4.420-4.520 for the period, compared to the consensus EPS estimate of 4.450. The company issued revenue guidance of $688.0 million-$698.0 million, compared to the consensus revenue estimate of $706.0 million. WEX also updated its FY 2024 guidance to 15.980-16.380 EPS.
Analysts Set New Price Targets
Several research analysts have commented on the stock. Wells Fargo & Company assumed coverage on shares of WEX in a report on Wednesday, June 5th. They set an equal weight rating and a $200.00 price objective for the company. JPMorgan Chase & Co. decreased their target price on shares of WEX from $246.00 to $210.00 and set a neutral rating on the stock in a research report on Friday, July 12th. Jefferies Financial Group upped their target price on shares of WEX from $235.00 to $240.00 and gave the company a hold rating in a research report on Friday, April 12th. Citigroup upped their target price on shares of WEX from $240.00 to $280.00 and gave the company a buy rating in a research report on Wednesday, April 17th. Finally, Barclays upped their target price on shares of WEX from $255.00 to $280.00 and gave the company an overweight rating in a research report on Tuesday, April 16th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $238.85.
Check Out Our Latest Stock Report on WEX
WEX Trading Down 3.7 %
WEX (NYSE:WEX – Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The business services provider reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.15. WEX had a net margin of 10.21% and a return on equity of 30.92%. The firm had revenue of $652.70 million for the quarter, compared to the consensus estimate of $653.52 million. On average, research analysts anticipate that WEX will post 13.94 EPS for the current year.
Insider Activity
In other WEX news, SVP Sara Trickett sold 734 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $210.43, for a total value of $154,455.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other WEX news, SVP Sara Trickett sold 734 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $210.43, for a total value of $154,455.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Robert Joseph Deshaies sold 1,897 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $211.01, for a total transaction of $400,285.97. Following the completion of the sale, the chief operating officer now owns 9,408 shares of the company’s stock, valued at $1,985,182.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,911 shares of company stock worth $1,008,402. Corporate insiders own 1.10% of the company’s stock.
About WEX
WEX Inc operates a commerce platform in the United States and internationally. The Mobility segment offers fleet vehicle payment solutions, transaction processing, and information management services; and provides account activation and account retention services; authorization and billing inquiries, and account maintenance services; account management; credit and collections services; merchant services; analytics solutions; and ancillary services and offerings.
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