WEX (NYSE:WEX) Announces Earnings Results

WEX (NYSE:WEX) issued its quarterly earnings results on Thursday. The business services provider reported $1.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.24 by ($0.03), MarketWatch Earnings reports. The business had revenue of $347.08 million for the quarter, compared to analysts’ expectations of $353.05 million. WEX had a return on equity of 16.87% and a net margin of 7.47%.

WEX stock traded down $1.66 during trading on Friday, hitting $158.37. The company’s stock had a trading volume of 411,689 shares, compared to its average volume of 405,777. The stock has a market capitalization of $6.89 billion, a price-to-earnings ratio of 55.37, a P/E/G ratio of 1.68 and a beta of 1.93. The stock’s fifty day moving average is $161.50 and its 200 day moving average is $160.19. WEX has a 1-year low of $71.12 and a 1-year high of $236.51. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.33 and a current ratio of 1.38.

WEX has been the topic of a number of recent research reports. BTIG Research cut their price target on shares of WEX from $255.00 to $190.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Susquehanna Bancshares began coverage on shares of WEX in a report on Wednesday, July 15th. They issued a “positive” rating and a $210.00 price objective on the stock. SunTrust Banks lifted their price objective on shares of WEX from $100.00 to $150.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Goldman Sachs Group began coverage on shares of WEX in a research report on Tuesday, July 14th. They set a “neutral” rating and a $164.00 price objective for the company. Finally, Deutsche Bank lifted their price objective on shares of WEX from $150.00 to $172.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $200.93.

In related news, insider Joel Alan Dearborn, Jr. sold 1,950 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $154.00, for a total value of $300,300.00. Following the completion of the transaction, the insider now directly owns 3,439 shares in the company, valued at $529,606. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Roberto Simon sold 9,251 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $118.70, for a total value of $1,098,093.70. Following the completion of the transaction, the chief financial officer now owns 10,878 shares of the company’s stock, valued at $1,291,218.60. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company’s stock.

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 processing services.

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Earnings History for WEX (NYSE:WEX)

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