WEX (NYSE:WEX) Updates FY24 Earnings Guidance

WEX (NYSE:WEX) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $16.10-16.60 for the period, compared to the consensus EPS estimate of $16.26. The company issued revenue guidance of $2.73-2.77 billion, compared to the consensus revenue estimate of $2.73 billion. WEX also updated its FY 2024 guidance to 16.100-16.600 EPS.

Analyst Ratings Changes

A number of research firms recently weighed in on WEX. TheStreet raised shares of WEX from a c rating to a b rating in a report on Thursday, February 8th. JPMorgan Chase & Co. raised their target price on shares of WEX from $205.00 to $239.00 and gave the stock a neutral rating in a report on Friday, February 9th. Jefferies Financial Group lifted their price target 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. Truist Financial lifted their price target on shares of WEX from $185.00 to $220.00 and gave the stock a hold rating in a research note on Friday, February 9th. Finally, Evercore ISI lifted their price target on shares of WEX from $250.00 to $275.00 and gave the stock an outperform rating in a research note on Tuesday, March 26th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $240.00.

WEX Trading Up 0.7 %

NYSE:WEX traded up $1.55 during mid-day trading on Friday, hitting $216.58. The company had a trading volume of 427,401 shares, compared to its average volume of 305,160. WEX has a fifty-two week low of $161.95 and a fifty-two week high of $244.04. The business’s fifty day moving average is $230.69 and its two-hundred day moving average is $203.58. The firm has a market cap of $9.07 billion, a P/E ratio of 35.35, a P/E/G ratio of 1.51 and a beta of 1.59. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.05 and a current ratio of 1.05.

WEX (NYSE:WEX) last released its earnings results on Thursday, February 8th. The business services provider reported $3.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.29 by ($0.15). The business had revenue of $663.30 million during the quarter, compared to the consensus estimate of $656.75 million. WEX had a net margin of 10.46% and a return on equity of 31.33%. As a group, research analysts expect that WEX will post 13.55 earnings per share for the current year.

Insider Transactions at WEX

In related news, SVP Sara Trickett sold 887 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $224.61, for a total transaction of $199,229.07. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, SVP Sara Trickett sold 887 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $224.61, for a total value of $199,229.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Hilary A. Rapkin sold 5,800 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $222.55, for a total transaction of $1,290,790.00. Following the completion of the transaction, the insider now owns 10,569 shares of the company’s stock, valued at $2,352,130.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,326 shares of company stock worth $6,281,961. Company insiders own 1.10% of the company’s stock.

WEX Company Profile

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.