WEX (NYSE:WEX) Issues FY 2024 Earnings Guidance

WEX (NYSE:WEX) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 16.100-16.600 for the period, compared to the consensus earnings per share estimate of 16.250. The company issued revenue guidance of $2.7 billion-$2.8 billion, compared to the consensus revenue estimate of $2.7 billion. WEX also updated its FY24 guidance to $16.10-16.60 EPS.

WEX Trading Up 0.7 %

Shares of NYSE WEX traded up $1.55 during midday trading on Friday, reaching $216.58. 427,401 shares of the stock were exchanged, compared to its average volume of 305,160. The stock has a 50 day moving average price of $230.69 and a 200-day moving average price of $203.58. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.55. The company has a market capitalization 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. WEX has a 52-week low of $161.95 and a 52-week high of $244.04.

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

Analyst Ratings Changes

A number of research firms recently issued reports on WEX. StockNews.com downgraded shares of WEX from a buy rating to a hold rating in a research report on Tuesday, March 26th. JPMorgan Chase & Co. increased their price target on WEX from $205.00 to $239.00 and gave the company a neutral rating in a report on Friday, February 9th. Evercore ISI boosted their price objective on WEX from $250.00 to $275.00 and gave the stock an outperform rating in a research note on Tuesday, March 26th. Citigroup increased their target price on WEX from $240.00 to $280.00 and gave the company a buy rating in a research note on Wednesday, April 17th. Finally, Truist Financial boosted their price target on WEX from $185.00 to $220.00 and gave the stock a hold rating in a research report on Friday, February 9th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, WEX presently has a consensus rating of Moderate Buy and an average target price of $240.00.

Insider Buying and Selling

In related news, CAO Jennifer Kimball sold 574 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $222.24, for a total transaction of $127,565.76. Following the completion of the sale, the chief accounting officer now owns 1,297 shares of the company’s stock, valued at approximately $288,245.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CAO Jennifer Kimball sold 574 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $222.24, for a total transaction of $127,565.76. Following the completion of the transaction, the chief accounting officer now owns 1,297 shares in the company, valued at approximately $288,245.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Sara Trickett sold 887 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $224.61, for a total value of $199,229.07. The disclosure for this sale can be found here. Insiders have sold 28,326 shares of company stock worth $6,281,961 over the last ninety days. 1.10% of the stock is owned by insiders.

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.