$117.11 Million in Sales Expected for WageWorks, Inc. (WAGE) This Quarter
Analysts expect WageWorks, Inc. (NYSE:WAGE) to announce $117.11 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for WageWorks’ earnings, with the highest sales estimate coming in at $117.48 million and the lowest estimate coming in at $116.20 million. WageWorks posted sales of $88.92 million during the same quarter last year, which suggests a positive year over year growth rate of 31.7%. The business is expected to issue its next quarterly earnings report on Wednesday, November 8th.
On average, analysts expect that WageWorks will report full-year sales of $117.11 million for the current financial year, with estimates ranging from $481.00 million to $483.87 million. For the next year, analysts anticipate that the business will report sales of $525.33 million per share, with estimates ranging from $503.93 million to $531.37 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow WageWorks.
WageWorks (NYSE:WAGE) last announced its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.11. The firm had revenue of $119.90 million for the quarter, compared to analyst estimates of $119.18 million. WageWorks had a return on equity of 9.52% and a net margin of 9.60%. The firm’s quarterly revenue was up 36.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.36 EPS.
A number of research firms have issued reports on WAGE. Zacks Investment Research cut shares of WageWorks from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Stifel Nicolaus reiterated a “buy” rating and issued a $85.00 target price on shares of WageWorks in a research note on Monday, July 17th. BidaskClub cut shares of WageWorks from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 14th. Finally, TheStreet upgraded shares of WageWorks from a “c+” rating to a “b” rating in a research note on Friday, May 5th. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $80.04.
Shares of WageWorks (NYSE:WAGE) traded down 0.34% during mid-day trading on Friday, hitting $58.50. 208,767 shares of the stock were exchanged. WageWorks has a one year low of $55.65 and a one year high of $80.50. The stock has a market cap of $2.32 billion, a PE ratio of 53.42 and a beta of 0.86. The company has a 50-day moving average of $61.86 and a 200 day moving average of $69.76.
In other news, CEO Joseph L. Jackson sold 495,148 shares of WageWorks stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $69.25, for a total value of $34,288,999.00. Following the transaction, the chief executive officer now owns 103,363 shares of the company’s stock, valued at $7,157,887.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Edgar O. Montes sold 50,000 shares of WageWorks stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $69.25, for a total transaction of $3,462,500.00. Following the completion of the transaction, the chief operating officer now directly owns 71,895 shares in the company, valued at approximately $4,978,728.75. The disclosure for this sale can be found here. Company insiders own 3.54% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in WageWorks by 144,950.2% in the first quarter. BlackRock Inc. now owns 4,392,119 shares of the business services provider’s stock worth $317,551,000 after buying an additional 4,389,091 shares in the last quarter. TimesSquare Capital Management LLC raised its position in WageWorks by 46.2% in the second quarter. TimesSquare Capital Management LLC now owns 2,422,884 shares of the business services provider’s stock worth $162,818,000 after buying an additional 765,715 shares in the last quarter. Eagle Asset Management Inc. raised its position in WageWorks by 169.2% in the second quarter. Eagle Asset Management Inc. now owns 966,101 shares of the business services provider’s stock worth $64,921,000 after buying an additional 607,164 shares in the last quarter. Marshall Wace North America L.P. raised its position in WageWorks by 3,456.3% in the second quarter. Marshall Wace North America L.P. now owns 456,954 shares of the business services provider’s stock worth $30,616,000 after buying an additional 444,105 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in WageWorks by 24,301.3% in the second quarter. Victory Capital Management Inc. now owns 443,859 shares of the business services provider’s stock worth $29,827,000 after buying an additional 442,040 shares in the last quarter.
WageWorks, Inc is engaged in administering Consumer-Directed Benefits (CDBs). The Company administers CBDs, including pre-tax spending accounts, such as Health Savings Accounts (HSAs), health and dependent care Flexible Spending Accounts (FSAs), and Health Reimbursement Arrangements (HRAs), as well as Commuter Benefit Services, including transit and parking programs, wellness programs, Consolidated Omnibus Budget Reconciliation Act (COBRA) and other employee benefits.
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