Zacks: Analysts Anticipate WEX Inc. (NYSE:WEX) Will Announce Earnings of $3.40 Per Share

Posted by on May 25th, 2022

Analysts expect WEX Inc. (NYSE:WEX – Get Rating) to announce $3.40 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for WEX’s earnings. The highest EPS estimate is $3.44 and the lowest is $3.36. WEX posted earnings of $2.31 per share in the same quarter last year, which suggests a positive year over year growth rate of 47.2%. The firm is expected to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that WEX will report full-year earnings of $12.68 per share for the current year, with EPS estimates ranging from $12.50 to $13.07. For the next financial year, analysts expect that the company will report earnings of $13.74 per share, with EPS estimates ranging from $12.94 to $14.47. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that that provide coverage for WEX.

WEX (NYSE:WEX – Get Rating) last issued its earnings results on Thursday, April 28th. The business services provider reported $2.88 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.19. The business had revenue of $517.54 million during the quarter, compared to analysts’ expectations of $507.87 million. WEX had a return on equity of 21.38% and a net margin of 6.41%. The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.47 EPS.

WEX has been the topic of a number of recent research reports. Barclays upped their target price on WEX from $225.00 to $232.00 and gave the stock an “overweight” rating in a research note on Thursday, April 14th. StockNews.com assumed coverage on WEX in a report on Thursday, March 31st. They issued a “hold” rating for the company. Wells Fargo & Company assumed coverage on WEX in a report on Monday, April 4th. They issued an “overweight” rating and a $205.00 price target for the company. Truist Financial increased their price target on WEX from $170.00 to $185.00 in a report on Monday, February 14th. Finally, Jefferies Financial Group assumed coverage on WEX in a report on Thursday, March 24th. They issued a “hold” rating and a $180.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, WEX has an average rating of “Hold” and an average target price of $203.46.

Shares of NYSE:WEX opened at $156.41 on Wednesday. The business’s 50-day moving average is $167.23 and its 200 day moving average is $155.90. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market capitalization of $7.04 billion, a P/E ratio of 56.67, a P/E/G ratio of 0.78 and a beta of 1.62. WEX has a 1 year low of $123.01 and a 1 year high of $208.38.

In related news, COO Robert Joseph Deshaies sold 1,000 shares of WEX stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $165.00, for a total value of $165,000.00. Following the completion of the transaction, the chief operating officer now directly owns 9,555 shares in the company, valued at $1,576,575. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.26% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of WEX. Morgan Stanley increased its position in shares of WEX by 78.8% during the second quarter. Morgan Stanley now owns 294,916 shares of the business services provider’s stock worth $57,185,000 after purchasing an additional 129,958 shares in the last quarter. Raymond James & Associates increased its position in WEX by 15.3% in the 3rd quarter. Raymond James & Associates now owns 2,780 shares of the business services provider’s stock valued at $490,000 after acquiring an additional 368 shares during the period. O Shaughnessy Asset Management LLC increased its position in WEX by 20.0% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 468 shares of the business services provider’s stock valued at $83,000 after acquiring an additional 78 shares during the period. California Public Employees Retirement System increased its position in WEX by 0.7% in the 3rd quarter. California Public Employees Retirement System now owns 99,581 shares of the business services provider’s stock valued at $17,540,000 after acquiring an additional 709 shares during the period. Finally, US Bancorp DE increased its position in WEX by 19.5% in the 3rd quarter. US Bancorp DE now owns 9,522 shares of the business services provider’s stock valued at $1,677,000 after acquiring an additional 1,551 shares during the period. Institutional investors and hedge funds own 98.23% of the company’s stock.

About WEX (Get Rating)

WEX Inc provides financial technology services in the United States and internationally. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment processing services. Its services include customer, account activation, and account retention services; authorization and billing inquiries, and account maintenance services; credit and collections services; merchant services; analytics solutions with access to web-based data analytics platform that offers insights to fleet managers; and ancillary services and tools to fleets to manage expenses and capital requirements.

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