WEX (NYSE:WEX) Issues Q4 2024 Earnings Guidance

WEX (NYSE:WEX) issued an update on its fourth quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 3.510-3.610 for the period, compared to the consensus EPS estimate of 4.280. The company issued revenue guidance of $630.0 million-$640.0 million, compared to the consensus revenue estimate of $674.5 million. WEX also updated its FY 2024 guidance to 15.210-15.310 EPS.

WEX Stock Down 1.2 %

WEX stock traded down $2.11 during midday trading on Friday, hitting $179.02. 671,595 shares of the stock were exchanged, compared to its average volume of 353,685. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $7.35 billion, a price-to-earnings ratio of 31.33, a price-to-earnings-growth ratio of 1.19 and a beta of 1.55. The business’s 50-day moving average price is $199.67 and its 200-day moving average price is $195.02. WEX has a 52-week low of $161.95 and a 52-week high of $244.04.

WEX (NYSE:WEX) last issued its earnings results on Thursday, July 25th. The business services provider reported $3.29 EPS for the quarter, topping the consensus estimate of $3.20 by $0.09. WEX had a return on equity of 31.05% and a net margin of 9.32%. The business had revenue of $673.50 million during the quarter, compared to the consensus estimate of $677.44 million. On average, research analysts expect that WEX will post 13.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on WEX. Robert W. Baird dropped their price objective on shares of WEX from $285.00 to $230.00 and set an “outperform” rating on the stock in a research note on Friday. JPMorgan Chase & Co. decreased their price target on WEX from $210.00 to $200.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. Keefe, Bruyette & Woods cut their target price on shares of WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a report on Monday, July 8th. Jefferies Financial Group raised their target price on shares of WEX from $190.00 to $210.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Finally, Bank of America lifted their target price on WEX from $238.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $232.92.

Insider Activity

In other news, insider Melanie J. Tinto sold 1,564 shares of WEX stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $185.04, for a total transaction of $289,402.56. Following the completion of the sale, the insider now directly owns 8,461 shares in the company, valued at $1,565,623.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other WEX news, insider Melanie J. Tinto sold 1,564 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $185.04, for a total transaction of $289,402.56. Following the completion of the transaction, the insider now owns 8,461 shares in the company, valued at $1,565,623.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ann Elena Drew sold 1,182 shares of WEX stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $172.73, for a total value of $204,166.86. Following the completion of the transaction, the insider now directly owns 5,584 shares of the company’s stock, valued at $964,524.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,905 shares of company stock valued at $895,107 over the last three months. 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.