WEX Inc (WEX) Expected to Announce Quarterly Sales of $372.31 Million

Analysts expect that WEX Inc (NYSE:WEX) will announce $372.31 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for WEX’s earnings, with estimates ranging from $369.88 million to $374.50 million. WEX reported sales of $324.00 million in the same quarter last year, which indicates a positive year-over-year growth rate of 14.9%. The business is expected to report its next quarterly earnings results on Wednesday, November 7th.

On average, analysts expect that WEX will report full-year sales of $1.47 billion for the current financial year, with estimates ranging from $1.46 billion to $1.47 billion. For the next financial year, analysts expect that the company will post sales of $1.65 billion per share, with estimates ranging from $1.63 billion to $1.67 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow WEX.

WEX (NYSE:WEX) last issued its earnings results on Thursday, August 2nd. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.05 by $0.04. The firm had revenue of $370.88 million during the quarter, compared to analyst estimates of $366.21 million. WEX had a net margin of 14.61% and a return on equity of 15.61%. The business’s revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.26 earnings per share.

WEX has been the subject of several recent research reports. Wolfe Research initiated coverage on WEX in a report on Tuesday, July 17th. They issued a “market perform” rating for the company. Zacks Investment Research upgraded WEX from a “hold” rating to a “buy” rating and set a $179.00 price objective for the company in a report on Thursday, April 26th. Citigroup lifted their price objective on WEX from $200.00 to $235.00 and gave the company a “buy” rating in a report on Friday, July 20th. SunTrust Banks restated a “buy” rating and issued a $215.00 price objective on shares of WEX in a report on Friday, August 3rd. Finally, Morgan Stanley lifted their price objective on WEX from $166.00 to $172.00 and gave the company an “equal weight” rating in a report on Friday, May 4th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. WEX currently has an average rating of “Buy” and an average price target of $179.75.

Shares of WEX traded up $0.72 during trading hours on Monday, reaching $183.16. 4,144 shares of the company traded hands, compared to its average volume of 369,794. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $7.87 billion, a P/E ratio of 39.01, a P/E/G ratio of 1.61 and a beta of 1.79. WEX has a 12-month low of $101.69 and a 12-month high of $198.82.

In other WEX news, CEO Melissa D. Smith sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $190.00, for a total value of $950,000.00. Following the completion of the transaction, the chief executive officer now directly owns 72,544 shares in the company, valued at $13,783,360. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Regina O. Sommer sold 1,099 shares of the business’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $188.47, for a total transaction of $207,128.53. Following the completion of the transaction, the director now owns 12,910 shares of the company’s stock, valued at $2,433,147.70. The disclosure for this sale can be found here. Insiders sold 18,335 shares of company stock valued at $3,461,862 over the last 90 days. 4.57% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its holdings in WEX by 3.8% in the second quarter. BlackRock Inc. now owns 3,484,141 shares of the business services provider’s stock worth $663,658,000 after purchasing an additional 128,910 shares in the last quarter. Frontier Capital Management Co. LLC raised its holdings in WEX by 18.8% in the second quarter. Frontier Capital Management Co. LLC now owns 868,459 shares of the business services provider’s stock worth $165,424,000 after purchasing an additional 137,732 shares in the last quarter. Victory Capital Management Inc. raised its holdings in WEX by 87.4% in the first quarter. Victory Capital Management Inc. now owns 560,189 shares of the business services provider’s stock worth $87,736,000 after purchasing an additional 261,189 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in WEX by 14.4% in the first quarter. Westfield Capital Management Co. LP now owns 486,708 shares of the business services provider’s stock worth $76,228,000 after purchasing an additional 61,225 shares in the last quarter. Finally, Hermes Investment Management Ltd. raised its holdings in WEX by 2.7% in the second quarter. Hermes Investment Management Ltd. now owns 416,242 shares of the business services provider’s stock worth $79,286,000 after purchasing an additional 11,117 shares in the last quarter.

About WEX

WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. 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 and processing services.

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