WEX (NYSE:WEX) Issues Q4 2024 Earnings Guidance

WEX (NYSE:WEX) updated 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.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WEX. William Blair upgraded WEX to a “strong-buy” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods dropped their price objective 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. JPMorgan Chase & Co. dropped their target price on shares of WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Bank of America boosted their price target on WEX from $238.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group boosted their price objective on shares of WEX from $190.00 to $210.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $232.92.

WEX Stock Performance

WEX stock traded down $2.11 during mid-day trading on Friday, hitting $179.02. 671,595 shares of the company’s stock traded hands, compared to its average volume of 353,685. The firm has a 50 day moving average price of $199.67 and a 200 day moving average price of $195.02. 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 company has a market cap of $7.35 billion, a PE ratio of 31.33, a price-to-earnings-growth ratio of 1.19 and a beta of 1.55. WEX has a one year low of $161.95 and a one year high of $244.04.

WEX (NYSE:WEX) last issued its quarterly earnings data on Thursday, July 25th. The business services provider reported $3.29 earnings per share for the quarter, beating the consensus estimate of $3.20 by $0.09. The firm had revenue of $673.50 million for the quarter, compared to analyst estimates of $677.44 million. WEX had a net margin of 9.32% and a return on equity of 31.05%. On average, equities analysts forecast that WEX will post 13.68 EPS for the current year.

Insider Activity

In other news, CFO Jagtar Narula sold 508 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $200.00, for a total value of $101,600.00. Following the completion of the sale, the chief financial officer now directly owns 7,120 shares in the company, valued at approximately $1,424,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, COO Robert Joseph Deshaies sold 1,651 shares of WEX stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.67, for a total transaction of $299,937.17. Following the completion of the transaction, the chief operating officer now directly owns 7,757 shares in the company, valued at approximately $1,409,214.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jagtar Narula sold 508 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $200.00, for a total value of $101,600.00. Following the transaction, the chief financial officer now owns 7,120 shares in the company, valued at $1,424,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,905 shares of company stock worth $895,107. 1.10% of the stock is currently owned by corporate insiders.

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.