Analysts Expect WEX Inc (NYSE:WEX) Will Announce Quarterly Sales of $460.58 Million

Wall Street brokerages predict that WEX Inc (NYSE:WEX) will announce sales of $460.58 million for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for WEX’s earnings, with estimates ranging from $454.62 million to $463.70 million. WEX posted sales of $382.69 million in the same quarter last year, which indicates a positive year over year growth rate of 20.4%. The business is scheduled to report its next quarterly earnings results on Wednesday, October 30th.

On average, analysts expect that WEX will report full-year sales of $1.74 billion for the current financial year, with estimates ranging from $1.73 billion to $1.75 billion. For the next fiscal year, analysts expect that the company will report sales of $1.93 billion, with estimates ranging from $1.90 billion to $1.96 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow WEX.

WEX (NYSE:WEX) last issued its quarterly earnings data on Thursday, August 1st. The business services provider reported $2.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.08 by $0.20. The business had revenue of $441.81 million during the quarter, compared to analysts’ expectations of $440.49 million. WEX had a return on equity of 17.88% and a net margin of 6.84%. The company’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.07 EPS.

Several equities analysts recently weighed in on the company. Deutsche Bank lifted their price target on WEX from $209.00 to $223.00 and gave the company a “buy” rating in a research note on Friday, June 21st. TheStreet lowered WEX from a “b” rating to a “c+” rating in a research note on Monday, August 5th. Goldman Sachs Group upgraded WEX from a “neutral” rating to a “buy” rating and lifted their price target for the company from $193.00 to $225.00 in a research note on Wednesday, June 5th. Morgan Stanley lifted their price target on WEX from $197.00 to $204.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Finally, Bank of America assumed coverage on WEX in a research note on Monday, June 3rd. They issued a “buy” rating and a $220.00 price target for the company. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $223.00.

In other WEX news, CEO Melissa D. Smith sold 15,556 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $209.99, for a total transaction of $3,266,604.44. Following the completion of the sale, the chief executive officer now directly owns 78,839 shares in the company, valued at approximately $16,555,401.61. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Scott Robert Phillips sold 15,973 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $208.44, for a total value of $3,329,412.12. Following the sale, the insider now owns 9,850 shares of the company’s stock, valued at $2,053,134. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of the business. World Asset Management Inc increased its stake in WEX by 2.0% during the 2nd quarter. World Asset Management Inc now owns 2,464 shares of the business services provider’s stock worth $513,000 after buying an additional 49 shares in the last quarter. Atlantic Trust LLC increased its stake in WEX by 40.8% during the 2nd quarter. Atlantic Trust LLC now owns 169 shares of the business services provider’s stock worth $35,000 after buying an additional 49 shares in the last quarter. Tortoise Index Solutions LLC increased its stake in WEX by 8.1% during the 2nd quarter. Tortoise Index Solutions LLC now owns 682 shares of the business services provider’s stock worth $142,000 after buying an additional 51 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in WEX by 20.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 302 shares of the business services provider’s stock worth $58,000 after buying an additional 52 shares in the last quarter. Finally, Zions Bancorporation N.A. increased its stake in WEX by 2.8% during the 1st quarter. Zions Bancorporation N.A. now owns 1,953 shares of the business services provider’s stock worth $375,000 after buying an additional 54 shares in the last quarter. Institutional investors own 99.37% of the company’s stock.

Shares of WEX stock traded up $0.02 on Friday, hitting $205.45. The company’s stock had a trading volume of 241,300 shares, compared to its average volume of 319,506. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.42 and a current ratio of 1.42. WEX has a 1 year low of $131.35 and a 1 year high of $221.66. The firm has a fifty day moving average price of $204.45 and a 200-day moving average price of $200.29. The company has a market capitalization of $8.83 billion, a price-to-earnings ratio of 26.89, a price-to-earnings-growth ratio of 1.68 and a beta of 1.56.

WEX Company Profile

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 processing services.

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Earnings History and Estimates for WEX (NYSE:WEX)

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