WEX (NYSE:WEX – Get Free Report) updated its second quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 3.750-3.850 for the period, compared to the consensus EPS estimate of 3.980. The company issued revenue guidance of $675.0 million-$685.0 million, compared to the consensus revenue estimate of $679.0 million. WEX also updated its FY 2024 guidance to 16.100-16.600 EPS.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the stock. Citigroup lifted their target price on shares of WEX from $240.00 to $280.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. StockNews.com downgraded shares of WEX from a buy rating to a hold rating in a research report on Tuesday, March 26th. TheStreet raised shares of WEX from a c rating to a b rating in a research report on Thursday, February 8th. Mizuho boosted their price objective on shares of WEX from $225.00 to $235.00 and gave the company a buy rating in a research report on Tuesday, February 13th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of WEX from $205.00 to $239.00 and gave the company a neutral rating in a research report on Friday, February 9th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, WEX presently has a consensus rating of Moderate Buy and an average price target of $240.00.
Read Our Latest Research Report on WEX
WEX Stock Up 0.7 %
WEX (NYSE:WEX – Get Free Report) last announced its quarterly earnings results on Thursday, February 8th. The business services provider reported $3.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.15). The firm had revenue of $663.30 million during 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 year.
Insider Buying and Selling
In related news, CAO Jennifer Kimball sold 574 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $222.24, for a total value of $127,565.76. Following the transaction, the chief accounting officer now owns 1,297 shares in the company, valued at approximately $288,245.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CAO Jennifer Kimball sold 574 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $222.24, for a total value of $127,565.76. Following the transaction, the chief accounting officer now owns 1,297 shares in the company, valued at approximately $288,245.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jagtar Narula sold 309 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total transaction of $72,071.16. Following the completion of the transaction, the chief financial officer now owns 5,528 shares in the company, valued at approximately $1,289,350.72. The disclosure for this sale can be found here. Insiders have sold a total of 28,326 shares of company stock worth $6,281,961 in the last quarter. Corporate insiders own 1.10% of the company’s stock.
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.
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