Analysts predict that WEX Inc (NYSE:WEX) will announce $372.47 million in sales for the current quarter, according to Zacks. Five analysts have provided estimates for WEX’s earnings. The lowest sales estimate is $366.55 million and the highest is $374.90 million. WEX reported sales of $331.31 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 12.4%. The firm is scheduled to report its next quarterly earnings results on Wednesday, February 20th.

According to Zacks, analysts expect that WEX will report full year sales of $1.48 billion for the current year, with estimates ranging from $1.47 billion to $1.49 billion. For the next year, analysts forecast that the company will post sales of $1.68 billion, with estimates ranging from $1.63 billion to $1.73 billion. Zacks’ sales calculations are an average based on a survey of research analysts that follow WEX.

WEX (NYSE:WEX) last released its earnings results on Wednesday, October 31st. The business services provider reported $2.19 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.07. WEX had a return on equity of 16.92% and a net margin of 15.63%. The business had revenue of $382.70 million during the quarter, compared to the consensus estimate of $375.15 million. During the same period last year, the company earned $1.43 earnings per share. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year.

Several analysts have recently weighed in on WEX shares. Wells Fargo & Co upgraded WEX from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $190.00 to $200.00 in a research report on Thursday, November 1st. ValuEngine downgraded WEX from a “buy” rating to a “hold” rating in a research report on Tuesday, November 6th. Deutsche Bank reiterated a “buy” rating and set a $186.00 target price on shares of WEX in a research report on Wednesday, November 21st. Barclays started coverage on WEX in a research report on Wednesday, November 14th. They set an “overweight” rating and a $211.00 target price for the company. Finally, Zacks Investment Research upgraded WEX from a “hold” rating to a “buy” rating and set a $211.00 target price for the company in a research report on Saturday, October 13th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $198.50.

NYSE:WEX opened at $154.70 on Friday. WEX has a twelve month low of $126.93 and a twelve month high of $203.49. The firm has a market cap of $6.63 billion, a PE ratio of 32.57, a price-to-earnings-growth ratio of 1.35 and a beta of 1.69. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.16.

Hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates raised its holdings in shares of WEX by 14.3% in the second quarter. Raymond James & Associates now owns 7,778 shares of the business services provider’s stock valued at $1,482,000 after acquiring an additional 971 shares in the last quarter. State Treasurer State of Michigan raised its holdings in shares of WEX by 15.3% in the third quarter. State Treasurer State of Michigan now owns 27,100 shares of the business services provider’s stock valued at $5,441,000 after acquiring an additional 3,600 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of WEX by 5.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 244,344 shares of the business services provider’s stock valued at $46,543,000 after acquiring an additional 13,379 shares in the last quarter. Natixis raised its holdings in shares of WEX by 86.4% in the second quarter. Natixis now owns 6,044 shares of the business services provider’s stock valued at $1,152,000 after acquiring an additional 2,801 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of WEX by 305.9% in the second quarter. Millennium Management LLC now owns 349,272 shares of the business services provider’s stock valued at $66,529,000 after acquiring an additional 263,217 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

About WEX

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 and processing services.

Featured Story: How is the S&P 500 index different from the DJIA?

Get a free copy of the Zacks research report on WEX (WEX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for WEX (NYSE:WEX)

Receive News & Ratings for WEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEX and related companies with MarketBeat.com's FREE daily email newsletter.