WEX (NYSE:WEX) Issues FY24 Earnings Guidance

WEX (NYSE:WEX) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $15.98-16.38 for the period, compared to the consensus EPS estimate of $16.26. The company issued revenue guidance of $2.68-2.72 billion, compared to the consensus revenue estimate of $2.74 billion. WEX also updated its FY 2024 guidance to 15.980-16.380 EPS.

WEX Trading Up 4.8 %

WEX stock opened at $180.44 on Friday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.06 and a current ratio of 1.03. The firm has a market cap of $7.56 billion, a price-to-earnings ratio of 29.34, a price-to-earnings-growth ratio of 1.05 and a beta of 1.54. WEX has a 1 year low of $161.95 and a 1 year high of $244.04. The firm’s 50 day moving average price is $180.54 and its two-hundred day moving average price is $205.75.

WEX (NYSE:WEX) last posted its quarterly earnings results on Thursday, April 25th. The business services provider reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.15. The firm had revenue of $652.70 million for the quarter, compared to analyst estimates of $653.52 million. WEX had a net margin of 9.32% and a return on equity of 31.05%. On average, research analysts predict that WEX will post 13.85 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on WEX. Keefe, Bruyette & Woods decreased their price objective on shares of WEX from $275.00 to $230.00 and set an outperform rating for the company in a research note on Monday, July 8th. Jefferies Financial Group raised their price objective on shares of WEX from $235.00 to $240.00 and gave the stock a hold rating in a research note on Friday, April 12th. Citigroup raised their price objective on shares of WEX from $240.00 to $280.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. Robert W. Baird raised their price objective on shares of WEX from $272.00 to $285.00 and gave the stock an outperform rating in a research note on Monday, April 15th. Finally, Barclays raised their price objective on shares of WEX from $255.00 to $280.00 and gave the stock an overweight rating in a research note on Tuesday, April 16th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $238.08.

Insider Buying and Selling at WEX

In other WEX news, SVP Sara Trickett sold 734 shares of WEX stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $210.43, for a total transaction of $154,455.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Robert Joseph Deshaies sold 1,897 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $211.01, for a total value of $400,285.97. Following the transaction, the chief operating officer now directly owns 9,408 shares of the company’s stock, valued at approximately $1,985,182.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Sara Trickett sold 734 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $210.43, for a total value of $154,455.62. The disclosure for this sale can be found here. Insiders sold 4,911 shares of company stock valued at $1,008,402 in the last quarter. Company 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.