WEX (NYSE:WEX) Releases Q2 2024 Earnings Guidance

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.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Barclays upped their price target on shares of WEX from $255.00 to $280.00 and gave the stock an overweight rating in a report on Tuesday, April 16th. Truist Financial upped their price target on shares of WEX from $185.00 to $220.00 and gave the stock a hold rating in a report on Friday, February 9th. Citigroup upped their price target on shares of WEX from $240.00 to $280.00 and gave the stock a buy rating in a report on Wednesday, April 17th. Evercore ISI increased their price objective on shares of WEX from $250.00 to $275.00 and gave the company an outperform rating in a research note on Tuesday, March 26th. Finally, TheStreet raised shares of WEX from a c rating to a b rating in a research note on Thursday, February 8th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $240.00.

WEX Trading Down 7.8 %

Shares of WEX stock traded down $18.25 during trading hours on Thursday, hitting $215.07. 762,236 shares of the company's stock traded hands, compared to its average volume of 303,632. The stock's 50 day simple moving average is $230.87 and its 200 day simple moving average is $203.50. The stock has a market cap of $8.98 billion, a PE ratio of 35.39, a price-to-earnings-growth ratio of 1.51 and a beta of 1.59. WEX has a 12 month low of $161.95 and a 12 month high of $244.04. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.55.

WEX (NYSE:WEX - Get Free Report) last released its quarterly earnings results on Thursday, February 8th. The business services provider reported $3.14 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 10.46% and a return on equity of 31.33%. On average, sell-side analysts anticipate that WEX will post 13.55 EPS for the current year.

Insider Transactions at WEX

In other news, CEO Melissa D. Smith sold 13,000 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 81,998 shares in the company, valued at $18,230,615.34. The transaction was disclosed in a filing with the SEC, which is available at this link. In other WEX news, CFO Jagtar Narula sold 309 shares of the firm's stock in a transaction on Tuesday, March 19th. The shares were 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 directly owns 5,528 shares in the company, valued at $1,289,350.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction, the chief executive officer now owns 81,998 shares of the company's stock, valued at $18,230,615.34. 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 three months. 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.