WEX (NYSE:WEX – Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $15.98-16.38 for the period, compared to the consensus EPS estimate of $16.26. The company issued revenue guidance of $2.68-2.72 billion, compared to the consensus revenue estimate of $2.74 billion. WEX also updated its FY 2024 guidance to 15.980-16.380 EPS.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on WEX. Robert W. Baird upped their price target on WEX from $272.00 to $285.00 and gave the company an outperform rating in a report on Monday, April 15th. Barclays upped their price target on WEX from $255.00 to $280.00 and gave the company an overweight rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. cut their target price on shares of WEX from $246.00 to $210.00 and set a neutral rating on the stock in a research note on Friday, July 12th. Jefferies Financial Group boosted their target price on shares of WEX from $235.00 to $240.00 and gave the company a hold rating in a research note on Friday, April 12th. Finally, Wells Fargo & Company initiated coverage on shares of WEX in a research note on Wednesday, June 5th. They set an equal weight rating and a $200.00 target price on the stock. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $238.85.
Check Out Our Latest Report on WEX
WEX Stock Down 3.7 %
WEX (NYSE:WEX – Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The business services provider reported $2.98 EPS for the quarter, beating the consensus estimate of $2.83 by $0.15. The business had revenue of $652.70 million for the quarter, compared to analysts’ expectations of $653.52 million. WEX had a net margin of 10.21% and a return on equity of 30.92%. Sell-side analysts predict that WEX will post 13.94 earnings per share for the current year.
Insider Buying and Selling
In related news, CFO Jagtar Narula sold 540 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $180.00, for a total value of $97,200.00. Following the completion of the sale, the chief financial officer now directly owns 8,168 shares in the company, valued at $1,470,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Jagtar Narula sold 540 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $180.00, for a total value of $97,200.00. Following the completion of the sale, the chief financial officer now directly owns 8,168 shares in the company, valued at $1,470,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert Joseph Deshaies sold 1,897 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $211.01, for a total transaction of $400,285.97. Following the completion of the sale, the chief operating officer now owns 9,408 shares of the company’s stock, valued at $1,985,182.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,911 shares of company stock worth $1,008,402. Corporate insiders own 1.10% of the company’s stock.
About WEX
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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