Wall Street analysts forecast that WEX Inc. (NYSE:WEX) will report sales of $386.53 million for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for WEX’s earnings. The lowest sales estimate is $377.90 million and the highest is $394.95 million. WEX posted sales of $440.05 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 12.2%. The firm is scheduled to announce its next earnings results before the market opens on Wednesday, February 24th.
According to Zacks, analysts expect that WEX will report full-year sales of $1.55 billion for the current fiscal year, with estimates ranging from $1.54 billion to $1.56 billion. For the next financial year, analysts expect that the company will report sales of $1.79 billion, with estimates ranging from $1.70 billion to $1.87 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow WEX.
A number of brokerages have recently issued reports on WEX. Susquehanna upped their target price on shares of WEX from $210.00 to $250.00 and gave the company a “positive” rating in a research note on Thursday, February 11th. Bank of America downgraded shares of WEX from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 6th. Credit Suisse Group reaffirmed a “neutral” rating and set a $205.00 price objective on shares of WEX in a research report on Monday, December 21st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of WEX from $172.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, January 25th. Finally, Barclays boosted their price objective on shares of WEX from $165.00 to $246.00 and gave the company an “overweight” rating in a research report on Friday, January 29th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $199.56.
In related news, CTO David G. Cooper sold 3,777 shares of the company’s stock in a transaction that occurred on Tuesday, December 15th. The shares were sold at an average price of $201.00, for a total value of $759,177.00. Following the completion of the sale, the chief technology officer now owns 6,562 shares in the company, valued at approximately $1,318,962. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Roberto Simon sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 15th. The shares were sold at an average price of $199.50, for a total transaction of $1,995,000.00. Following the completion of the sale, the chief financial officer now owns 20,878 shares of the company’s stock, valued at approximately $4,165,161. The disclosure for this sale can be found here. 0.76% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Truist Financial Corp lifted its position in WEX by 11.6% in the 4th quarter. Truist Financial Corp now owns 5,368 shares of the business services provider’s stock worth $1,092,000 after buying an additional 560 shares in the last quarter. Kiwi Wealth Investments Limited Partnership purchased a new stake in WEX in the 4th quarter worth approximately $1,190,000. Morgan Stanley lifted its position in WEX by 17.3% in the 4th quarter. Morgan Stanley now owns 233,993 shares of the business services provider’s stock worth $47,624,000 after buying an additional 34,468 shares in the last quarter. Nuveen Asset Management LLC increased its stake in shares of WEX by 17.6% during the 4th quarter. Nuveen Asset Management LLC now owns 362,746 shares of the business services provider’s stock worth $73,830,000 after purchasing an additional 54,224 shares during the last quarter. Finally, Captrust Financial Advisors increased its stake in shares of WEX by 4.5% during the 4th quarter. Captrust Financial Advisors now owns 2,519 shares of the business services provider’s stock worth $513,000 after purchasing an additional 109 shares during the last quarter. Institutional investors own 98.73% of the company’s stock.
Shares of WEX stock traded up $3.10 during trading on Tuesday, reaching $229.92. The company had a trading volume of 383,958 shares, compared to its average volume of 290,833. The company has a market cap of $10.15 billion, a price-to-earnings ratio of 80.39, a price-to-earnings-growth ratio of 1.68 and a beta of 1.86. The firm’s fifty day moving average is $206.42 and its 200-day moving average is $174.31. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.38 and a current ratio of 1.38. WEX has a fifty-two week low of $71.12 and a fifty-two week high of $230.40.
WEX Company Profile
WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment processing services.
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