WEX Inc. (NYSE:WEX – Free Report) – Equities researchers at Zacks Research lifted their Q3 2023 earnings per share estimates for shares of WEX in a note issued to investors on Thursday, September 7th. Zacks Research analyst S. Bose now expects that the business services provider will post earnings per share of $3.20 for the quarter, up from their previous forecast of $3.19. The consensus estimate for WEX’s current full-year earnings is $12.27 per share. Zacks Research also issued estimates for WEX’s Q4 2023 earnings at $3.13 EPS, FY2023 earnings at $12.20 EPS, Q1 2024 earnings at $3.24 EPS, Q2 2024 earnings at $3.44 EPS, Q3 2024 earnings at $3.34 EPS, FY2024 earnings at $13.64 EPS, Q1 2025 earnings at $3.55 EPS, Q2 2025 earnings at $3.83 EPS and FY2025 earnings at $15.77 EPS.
Several other research analysts also recently commented on the company. Bank of America raised their price objective on WEX from $219.00 to $226.00 in a research note on Friday, July 14th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of WEX in a report on Friday, July 7th. They issued a “hold” rating and a $190.00 target price for the company. Robert W. Baird boosted their price objective on WEX from $236.00 to $252.00 in a research report on Friday, July 28th. JPMorgan Chase & Co. boosted their price target on WEX from $218.00 to $233.00 and gave the stock a “neutral” rating in a report on Tuesday, August 22nd. Finally, Mizuho upped their target price on shares of WEX from $200.00 to $225.00 in a research report on Monday, July 31st. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $213.38.
WEX Trading Up 0.5 %
NYSE:WEX opened at $198.78 on Monday. WEX has a 12 month low of $125.00 and a 12 month high of $204.05. The company has a market cap of $8.54 billion, a PE ratio of 41.59, a price-to-earnings-growth ratio of 1.59 and a beta of 1.60. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.41. The company has a 50 day simple moving average of $191.50 and a two-hundred day simple moving average of $182.97.
WEX (NYSE:WEX – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.01). The firm had revenue of $621.30 million during the quarter, compared to the consensus estimate of $620.63 million. WEX had a return on equity of 31.60% and a net margin of 8.42%.
Institutional Trading of WEX
A number of institutional investors have recently bought and sold shares of the stock. Portside Wealth Group LLC acquired a new stake in WEX during the 2nd quarter worth about $527,000. Virginia Retirement Systems ET AL acquired a new stake in WEX during the second quarter worth about $1,402,000. Osaic Holdings Inc. raised its position in WEX by 9.1% during the second quarter. Osaic Holdings Inc. now owns 3,863 shares of the business services provider’s stock valued at $703,000 after acquiring an additional 322 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in WEX by 1.6% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 66,984 shares of the business services provider’s stock valued at $12,196,000 after acquiring an additional 1,051 shares during the period. Finally, Coppell Advisory Solutions LLC purchased a new stake in WEX in the 2nd quarter worth approximately $47,000. 97.47% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, COO Carlos Carriedo sold 756 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $190.68, for a total value of $144,154.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other WEX news, COO Carlos Carriedo sold 756 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $190.68, for a total transaction of $144,154.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Robert Joseph Deshaies sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $196.22, for a total transaction of $196,220.00. Following the completion of the sale, the chief operating officer now directly owns 8,070 shares of the company’s stock, valued at approximately $1,583,495.40. The disclosure for this sale can be found here. In the last three months, insiders sold 47,464 shares of company stock valued at $9,197,026. 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 Fleet Solutions segment offers fleet vehicle payment solutions, transaction processing, and information management services. It also provides account 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 tools to fleets to manage expenses and capital requirements.
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