WEX (NYSE:WEX) Issues FY24 Earnings Guidance

WEX (NYSE:WEX) issued an update on its FY24 earnings guidance on Thursday morning. 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.

WEX Price Performance

Shares of WEX traded up $1.55 on Friday, hitting $216.58. The company’s stock had a trading volume of 427,462 shares, compared to its average volume of 272,318. WEX has a fifty-two week low of $161.95 and a fifty-two week high of $244.04. The company has a market capitalization of $9.07 billion, a PE ratio of 35.22, a PEG ratio of 1.39 and a beta of 1.59. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.06 and a quick ratio of 1.05. The company has a 50 day moving average price of $230.59 and a 200 day moving average price of $203.78.

WEX (NYSE:WEX) last posted 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). The business had revenue of $663.30 million for the quarter, compared to the consensus estimate of $656.75 million. WEX had a return on equity of 30.92% and a net margin of 10.21%. On average, research analysts anticipate that WEX will post 13.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on WEX shares. Jefferies Financial Group upped their price objective on shares of WEX from $235.00 to $240.00 and gave the company a hold rating in a report on Friday, April 12th. Robert W. Baird boosted their price target on WEX from $272.00 to $285.00 and gave the company an outperform rating in a research note on Monday, April 15th. Evercore ISI lifted their price target on WEX from $250.00 to $275.00 and gave the company an outperform rating in a research note on Tuesday, March 26th. TheStreet upgraded shares of WEX from a c rating to a b rating in a research report on Thursday, February 8th. Finally, William Blair reissued an outperform rating on shares of WEX in a research note on Thursday, February 8th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $240.00.

Insiders Place Their Bets

In other WEX news, CEO Melissa D. Smith sold 13,000 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $222.33, for a total value of $2,890,290.00. Following the sale, the chief executive officer now owns 81,998 shares in the company, valued at $18,230,615.34. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CAO Jennifer Kimball sold 574 shares of the company’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 transaction, the chief accounting officer now owns 1,297 shares of the company’s stock, valued at $288,245.28. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Melissa D. Smith sold 13,000 shares of WEX stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $222.33, for a total transaction of $2,890,290.00. Following the sale, the chief executive officer now owns 81,998 shares of the company’s stock, valued at approximately $18,230,615.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,326 shares of company stock worth $6,281,961. 1.10% of the stock is currently owned by company insiders.

About WEX

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.