WEX (NYSE:WEX – Get Free Report) updated its second quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 3.750-3.850 for the period, compared to the consensus 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.
Analysts Set New Price Targets
A number of research firms have recently weighed in on WEX. Jefferies Financial Group upped their price objective on WEX from $235.00 to $240.00 and gave the stock a hold rating in a research note on Friday, April 12th. Mizuho upped their price objective on WEX from $225.00 to $235.00 and gave the stock a buy rating in a research note on Tuesday, February 13th. Barclays increased their price target on WEX from $255.00 to $280.00 and gave the company an overweight rating in a research note on Tuesday, April 16th. William Blair reissued an outperform rating on shares of WEX in a research note on Thursday, February 8th. Finally, TheStreet raised WEX from a c rating to a b rating 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. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $240.00.
View Our Latest Research Report on WEX
WEX Trading Up 0.7 %
WEX (NYSE:WEX – Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The business services provider reported $3.14 EPS for the quarter, missing the consensus estimate of $3.29 by ($0.15). The firm had revenue of $663.30 million for the quarter, compared to analysts’ expectations of $656.75 million. WEX had a return on equity of 31.33% and a net margin of 10.46%. As a group, equities research analysts expect that WEX will post 13.55 EPS for the current year.
Insiders Place Their Bets
In other WEX news, SVP Sara Trickett sold 887 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $224.61, for a total transaction of $199,229.07. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other WEX news, insider Ann Elena Drew sold 4,531 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $218.03, for a total transaction of $987,893.93. Following the sale, the insider now owns 3,653 shares of the company’s stock, valued at approximately $796,463.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Sara Trickett sold 887 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $224.61, for a total value of $199,229.07. The disclosure for this sale can be found here. Insiders have sold 28,326 shares of company stock worth $6,281,961 in the last ninety days. 1.10% of the stock is owned by company 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.
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