WEX (NYSE:WEX – Get Free Report) updated its second quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $3.75-3.85 for the period, compared to the consensus estimate of $3.99. The company issued revenue guidance of $675-685 million, compared to the consensus revenue estimate of $676.33 million. WEX also updated its FY 2024 guidance to 16.100-16.600 EPS.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the company. Evercore ISI raised their price objective on WEX from $250.00 to $275.00 and gave the company an outperform rating in a report on Tuesday, March 26th. TheStreet upgraded WEX from a c rating to a b rating in a report on Thursday, February 8th. StockNews.com lowered WEX from a buy rating to a hold rating in a report on Tuesday, March 26th. Robert W. Baird raised their price objective on WEX from $272.00 to $285.00 and gave the company an outperform rating in a report on Monday, April 15th. Finally, Barclays raised their price objective on WEX from $255.00 to $280.00 and gave the company an overweight rating in a report on Tuesday, April 16th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $240.00.
Read Our Latest Research Report on WEX
WEX Trading Up 0.7 %
WEX (NYSE:WEX – Get Free Report) last released its earnings results on Thursday, February 8th. The business services provider reported $3.14 earnings per share for the quarter, missing the consensus estimate of $3.29 by ($0.15). The firm had revenue of $663.30 million during the quarter, compared to analyst estimates of $656.75 million. WEX had a net margin of 10.46% and a return on equity of 31.33%. As a group, sell-side analysts forecast that WEX will post 13.55 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CFO Jagtar Narula sold 309 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 5,528 shares in the company, valued at $1,289,350.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other WEX news, CFO Jagtar Narula sold 309 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total value of $72,071.16. Following the completion of the sale, the chief financial officer now owns 5,528 shares in the company, valued at $1,289,350.72. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Jennifer Kimball sold 574 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $222.24, for a total value of $127,565.76. Following the completion of the sale, the chief accounting officer now owns 1,297 shares of the company’s stock, valued at approximately $288,245.28. The disclosure for this sale can be found here. Insiders sold a total of 28,326 shares of company stock worth $6,281,961 over the last 90 days. 1.10% of the stock is owned by 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.
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