WEX (NYSE:WEX) Releases FY24 Earnings Guidance

WEX (NYSE:WEX) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $16.10-16.60 for the period, compared to the consensus 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.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Barclays increased their price objective on shares of WEX from $255.00 to $280.00 and gave the stock an overweight rating in a research report on Tuesday, April 16th. Robert W. Baird raised their price target on shares of WEX from $272.00 to $285.00 and gave the company an outperform rating in a report on Monday, April 15th. Mizuho raised their price target on shares of WEX from $225.00 to $235.00 and gave the company a buy rating in a report on Tuesday, February 13th. JPMorgan Chase & Co. raised their price target on shares of WEX from $205.00 to $239.00 and gave the company a neutral rating in a report on Friday, February 9th. Finally, William Blair reaffirmed an outperform rating on shares of WEX in a report on Thursday, February 8th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $240.00.

WEX Stock Up 0.7 %

WEX stock traded up $1.55 during mid-day trading on Friday, hitting $216.58. 427,401 shares of the company were exchanged, compared to its average volume of 305,160. The company has a market capitalization of $9.07 billion, a PE ratio of 35.35, a price-to-earnings-growth ratio of 1.51 and a beta of 1.59. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.55. WEX has a twelve month low of $161.95 and a twelve month high of $244.04. The firm has a fifty day simple moving average of $230.69 and a 200 day simple moving average of $203.58.

WEX (NYSE:WEX) last announced its quarterly earnings data 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 company had revenue of $663.30 million for the quarter, compared to analyst estimates of $656.75 million. WEX had a return on equity of 31.33% and a net margin of 10.46%. On average, research analysts forecast that WEX will post 13.55 earnings per share for the current fiscal year.

Insider Transactions at WEX

In other news, CFO Jagtar Narula sold 309 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $233.24, for a total value of $72,071.16. Following the transaction, the chief financial officer now directly owns 5,528 shares in the company, valued at approximately $1,289,350.72. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Sara Trickett sold 887 shares of WEX stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $224.61, for a total value of $199,229.07. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jagtar Narula sold 309 shares of WEX stock in a transaction dated Tuesday, March 19th. The shares were 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 disclosure for this sale can be found here. In the last three months, insiders have sold 28,326 shares of company stock worth $6,281,961. 1.10% of the stock is currently owned by insiders.

WEX Company Profile

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.