WEX (NYSE:WEX – Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $16.10-16.60 for the period, compared to the consensus EPS estimate of $16.26. The company issued revenue guidance of $2.73-2.77 billion, compared to the consensus revenue estimate of $2.73 billion. WEX also updated its FY 2024 guidance to 16.100-16.600 EPS.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. Evercore ISI raised their target price on shares of WEX from $250.00 to $275.00 and gave the company an outperform rating in a research note on Tuesday, March 26th. William Blair reaffirmed an outperform rating on shares of WEX in a research report on Thursday, February 8th. Jefferies Financial Group boosted their target price on WEX from $235.00 to $240.00 and gave the stock a hold rating in a report on Friday, April 12th. Citigroup increased their price target on WEX from $240.00 to $280.00 and gave the company a buy rating in a research note on Wednesday, April 17th. Finally, Mizuho lifted their price objective on shares of WEX from $225.00 to $235.00 and gave the stock a buy rating in a research report on Tuesday, February 13th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $240.00.
Check Out Our Latest Stock Report on WEX
WEX Price Performance
WEX (NYSE:WEX – Get Free Report) last released its quarterly earnings results on Thursday, February 8th. The business services provider reported $3.14 EPS for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.15). The company had revenue of $663.30 million during the quarter, compared to the consensus estimate of $656.75 million. WEX had a net margin of 10.21% and a return on equity of 30.92%. As a group, equities analysts predict that WEX will post 13.55 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, CFO Jagtar Narula sold 309 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $233.24, for a total transaction of $72,071.16. Following the completion of the sale, the chief financial officer now directly owns 5,528 shares of the company’s stock, valued at $1,289,350.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Sara Trickett sold 887 shares of WEX stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $224.61, for a total transaction of $199,229.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jagtar Narula sold 309 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $233.24, for a total value of $72,071.16. Following the transaction, the chief financial officer now directly owns 5,528 shares in the company, valued at $1,289,350.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,326 shares of company stock valued at $6,281,961. Corporate insiders own 1.10% of the company’s stock.
WEX Company Profile
WEX Inc operates a commerce platform in the United States and internationally. The Mobility segment offers fleet vehicle payment solutions, transaction processing, and information management services; and provides account activation and account retention services; authorization and billing inquiries, and account maintenance services; account management; credit and collections services; merchant services; analytics solutions; and ancillary services and offerings.
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