WEX (NYSE:WEX) Releases Q4 2024 Earnings Guidance

WEX (NYSE:WEX) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 3.510-3.610 for the period, compared to the consensus EPS estimate of 4.280. The company issued revenue guidance of $630.0 million-$640.0 million, compared to the consensus revenue estimate of $674.5 million. WEX also updated its FY 2024 guidance to 15.210-15.310 EPS.

Analyst Ratings Changes

WEX has been the topic of several research analyst reports. Keefe, Bruyette & Woods lowered their target price on shares of WEX from $275.00 to $230.00 and set an “outperform” rating on the stock in a research note on Monday, July 8th. Wells Fargo & Company lowered their price objective on shares of WEX from $200.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Friday. Jefferies Financial Group upped their target price on WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lowered their price target on WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. Finally, William Blair upgraded WEX to a “strong-buy” rating in a report on Friday, July 26th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, WEX currently has a consensus rating of “Moderate Buy” and an average target price of $232.92.

WEX Trading Down 1.3 %

Shares of WEX opened at $178.85 on Friday. The business’s 50-day moving average price is $199.68 and its 200 day moving average price is $194.28. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $7.35 billion, a P/E ratio of 30.94, a P/E/G ratio of 1.19 and a beta of 1.55. WEX has a 1-year low of $161.95 and a 1-year high of $244.04.

WEX (NYSE:WEX) last posted its quarterly earnings data on Thursday, July 25th. The business services provider reported $3.29 earnings per share for the quarter, topping the consensus estimate of $3.20 by $0.09. WEX had a net margin of 9.32% and a return on equity of 31.05%. The firm had revenue of $673.50 million for the quarter, compared to analysts’ expectations of $677.44 million. Analysts expect that WEX will post 13.68 earnings per share for the current year.

Insider Transactions at WEX

In related news, insider Melanie J. Tinto sold 1,564 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $185.04, for a total transaction of $289,402.56. Following the transaction, the insider now directly owns 8,461 shares of the company’s stock, valued at approximately $1,565,623.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Ann Elena Drew sold 1,182 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $172.73, for a total transaction of $204,166.86. Following the transaction, the insider now directly owns 5,584 shares of the company’s stock, valued at approximately $964,524.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Melanie J. Tinto sold 1,564 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $185.04, for a total transaction of $289,402.56. Following the completion of the sale, the insider now owns 8,461 shares of the company’s stock, valued at approximately $1,565,623.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,905 shares of company stock valued at $895,107 over 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.