WEX Inc. (NYSE:WEX) is expected to report earnings of $2.46 per share
Wall Street brokers expect WEX Inc. (NYSE:WEX) to report earnings per share of $2.46 for the current fiscal quarter, reports Zacks Investment Research. Two analysts released WEX earnings estimates. The highest EPS estimate is $2.51 and the lowest is $2.33. WEX posted earnings per share of $1.45 in the same quarter last year, which would indicate a positive growth rate of 69.7% year over year. The company is due to release its next earnings report on Wednesday, February 23.
On average, analysts expect WEX to report annual earnings of $9.03 per share for the current year, with EPS estimates ranging from $8.89 to $9.09. For the next fiscal year, analysts expect the company to post earnings of $10.83 per share, with EPS estimates ranging from $10.40 to $11.67. Zacks EPS averages are an average based on a survey of sell-side research companies that cover WEX.
WEX (NYSE:WEX) last reported quarterly results on Thursday, October 28. The business services provider reported EPS of $2.45 for the quarter, beating the Zacks consensus estimate of $2.28 by $0.17. WEX had a positive return on equity of 15.97% and a negative net margin of 12.69%. The company posted revenue of $482.80 million for the quarter, compared to $478.34 million expected by analysts. During the same period of the previous year, the company achieved EPS of $1.19. The company’s quarterly revenue increased 26.4% year over year.
Several research analysts have recently commented on WEX stocks. Mizuho lowered its price target on WEX shares from $235.00 to $205.00 and set a “buy” rating on the stock in a Tuesday, November 2 research note. Zacks Investment Research downgraded WEX shares from a “hold” rating to a “sell” rating and set a target price of $206.00 for the stock. in a research note from Wednesday, October 20. Citigroup reduced its target price on WEX shares from $200.00 to $155.00 in a Monday, Jan. 3 research note. Bank of America upgraded WEX shares from a “neutral” rating to a “buy” rating and set a target price of $233.00 on the stock in a Wednesday, October 13 research note. Finally, Credit Suisse Group cut its price target on WEX shares from $210.00 to $195.00 and set a “neutral” rating on the stock in a Friday, October 29 research report. One financial analyst has assigned the stock a sell rating, five have issued a hold rating and eight have assigned the stock a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $210.21.
NYSE WEX shares opened at $151.40 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt ratio of 1.52. WEX has a 52-week low of $123.01 and a 52-week high of $234.64. The company’s fifty-day moving average is $139.72 and its 200-day moving average is $165.31. The company has a market capitalization of $6.79 billion, a price/earnings ratio of -29.98, a PEG ratio of 0.60 and a beta of 1.85.
Several hedge funds have recently changed their positions in WEX. JustInvest LLC increased its holdings of WEX shares by 37.3% during Q2. JustInvest LLC now owns 1,576 shares of the business services provider valued at $306,000 after buying 428 additional shares in the last quarter. Deutsche Bank AG increased its holdings of WEX shares by 7.2% during the second quarter. Deutsche Bank AG now owns 27,398 shares of the business services provider valued at $5,312,000 after buying an additional 1,847 shares last quarter. Great West Life Assurance Co. Can increased its holdings of WEX shares by 0.9% in the second quarter. Great West Life Assurance Co. Can now owns 17,282 shares of the business services provider valued at $3,350,000 after buying an additional 155 shares last quarter. Xponance Inc. increased its stake in WEX shares by 64.8% during the 2nd quarter. Xponance Inc. now owns 8,246 shares of the business services provider valued at $1,599,000 after buying an additional 3,242 shares last quarter. Finally, Crestwood Capital Management LP purchased a new equity stake in WEX during Q2 for $2,918,000. Hedge funds and other institutional investors own 99.42% of the company’s shares.
WEX Inc provides financial technology services in North America, 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. Its services include customer services, account activation and account maintenance; authorization and billing requests and account maintenance services; premium fleet services; credit and collection services; merchant services; analytics solutions with access to a web-based data analytics platform that provides insights to fleet managers; and ancillary services and tools to fleets to manage expenses and capital requirements.
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