Analysts Expect WEX Inc (WEX) Will Post Quarterly Sales of $372.31 Million

Equities research analysts predict that WEX Inc (NYSE:WEX) will report sales of $372.31 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for WEX’s earnings, with the lowest sales estimate coming in at $369.88 million and the highest estimate coming in at $374.50 million. WEX reported sales of $324.00 million in the same quarter last year, which would suggest a positive year over year growth rate of 14.9%. The company is expected to issue its next quarterly earnings results on Wednesday, November 7th.

According to Zacks, analysts expect that WEX will report full year sales of $1.47 billion for the current year, with estimates ranging from $1.46 billion to $1.47 billion. For the next financial year, analysts forecast that the firm will report sales of $1.65 billion, with estimates ranging from $1.63 billion to $1.67 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover WEX.

WEX (NYSE:WEX) last released its quarterly earnings results on Thursday, August 2nd. The business services provider reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.04. The company had revenue of $370.88 million during the quarter, compared to analysts’ expectations of $366.21 million. WEX had a return on equity of 15.61% and a net margin of 14.61%. WEX’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.26 EPS.

A number of equities analysts recently weighed in on the company. Morgan Stanley upped their price target on WEX from $172.00 to $188.00 and gave the stock a “hold” rating in a report on Thursday, July 19th. Citigroup upped their price target on WEX from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, July 20th. Wolfe Research started coverage on WEX in a research note on Tuesday, July 17th. They set a “market perform” rating for the company. Deutsche Bank boosted their price objective on WEX to $230.00 and gave the stock a “buy” rating in a research note on Friday, June 22nd. Finally, SunTrust Banks reiterated a “buy” rating and set a $215.00 price objective on shares of WEX in a research note on Friday, August 3rd. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $191.60.

In other WEX news, CEO Melissa D. Smith sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $190.00, for a total transaction of $950,000.00. Following the completion of the sale, the chief executive officer now directly owns 72,544 shares in the company, valued at approximately $13,783,360. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jack Vanwoerkom sold 4,376 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $187.52, for a total value of $820,587.52. Following the sale, the director now owns 7,705 shares of the company’s stock, valued at $1,444,841.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,335 shares of company stock valued at $3,461,862. 4.57% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the business. Federated Investors Inc. PA lifted its holdings in WEX by 14.7% in the first quarter. Federated Investors Inc. PA now owns 15,736 shares of the business services provider’s stock valued at $2,465,000 after acquiring an additional 2,018 shares during the last quarter. First Republic Investment Management Inc. lifted its holdings in WEX by 78.7% in the first quarter. First Republic Investment Management Inc. now owns 4,944 shares of the business services provider’s stock valued at $776,000 after acquiring an additional 2,178 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in WEX by 2.4% in the first quarter. Great West Life Assurance Co. Can now owns 23,931 shares of the business services provider’s stock valued at $3,751,000 after acquiring an additional 550 shares during the last quarter. California Public Employees Retirement System lifted its holdings in WEX by 3.3% in the first quarter. California Public Employees Retirement System now owns 67,467 shares of the business services provider’s stock valued at $10,567,000 after acquiring an additional 2,137 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in WEX by 134.1% in the first quarter. Russell Investments Group Ltd. now owns 7,285 shares of the business services provider’s stock valued at $1,141,000 after acquiring an additional 4,173 shares during the last quarter. Institutional investors own 99.12% of the company’s stock.

NYSE WEX traded down $5.41 during trading hours on Wednesday, reaching $188.48. The company’s stock had a trading volume of 415,200 shares, compared to its average volume of 358,974. The stock has a market capitalization of $8.65 billion, a price-to-earnings ratio of 41.17, a PEG ratio of 1.77 and a beta of 1.71. WEX has a 1-year low of $116.28 and a 1-year high of $203.49. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 1.19.

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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