WEX Inc. (WEX) Expected to Announce Quarterly Sales of $363.01 Million

Analysts expect that WEX Inc. (NYSE:WEX) will post $363.01 million in sales for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for WEX’s earnings. The lowest sales estimate is $358.57 million and the highest is $366.40 million. WEX posted sales of $303.88 million in the same quarter last year, which suggests a positive year over year growth rate of 19.5%. The firm is scheduled to report its next quarterly earnings report on Thursday, July 26th.

On average, analysts expect that WEX will report full year sales of $1.46 billion for the current financial year, with estimates ranging from $1.42 billion to $1.48 billion. For the next fiscal year, analysts anticipate that the business will post sales of $1.60 billion per share, with estimates ranging from $1.55 billion to $1.62 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for WEX.

WEX (NYSE:WEX) last issued its quarterly earnings data on Thursday, May 3rd. The business services provider reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.08. WEX had a return on equity of 13.96% and a net margin of 13.66%. The firm had revenue of $354.83 million for the quarter, compared to analyst estimates of $340.04 million. During the same period in the prior year, the firm posted $1.23 EPS. The company’s revenue for the quarter was up 21.8% on a year-over-year basis.

WEX has been the topic of a number of research reports. Zacks Investment Research lowered WEX from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Morgan Stanley reiterated an “equal weight” rating and set a $159.00 target price (up from $149.00) on shares of WEX in a research report on Thursday, February 22nd. SunTrust Banks set a $160.00 target price on WEX and gave the company a “buy” rating in a research report on Friday, February 16th. Barclays reiterated an “equal weight” rating and set a $170.00 target price (up from $163.00) on shares of WEX in a research report on Thursday, February 22nd. Finally, Oppenheimer upped their target price on WEX from $130.00 to $176.00 in a research report on Monday, February 5th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $154.92.

Shares of NYSE WEX opened at $180.49 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 1.20. WEX has a one year low of $179.29 and a one year high of $180.93. The firm has a market capitalization of $7.73 billion, a price-to-earnings ratio of 38.51, a PEG ratio of 1.70 and a beta of 1.81.

In other WEX news, insider Nicola S. Morris sold 2,700 shares of the stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $149.47, for a total value of $403,569.00. Following the completion of the transaction, the insider now directly owns 6,387 shares in the company, valued at $954,664.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.57% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its stake in shares of WEX by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 317,451 shares of the business services provider’s stock valued at $44,833,000 after buying an additional 6,367 shares during the period. Bain Capital Public Equity Management LLC acquired a new stake in shares of WEX in the fourth quarter valued at about $7,104,000. Martin & Co. Inc. TN increased its stake in shares of WEX by 8.5% in the fourth quarter. Martin & Co. Inc. TN now owns 20,020 shares of the business services provider’s stock valued at $2,827,000 after buying an additional 1,560 shares during the period. Jane Street Group LLC increased its stake in shares of WEX by 98.5% in the fourth quarter. Jane Street Group LLC now owns 3,546 shares of the business services provider’s stock valued at $501,000 after buying an additional 1,760 shares during the period. Finally, ING Groep NV acquired a new stake in shares of WEX in the fourth quarter valued at about $413,000.

WEX Company Profile

WEX Inc provides corporate card payment solutions in North and South America, the 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 and processing services.

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Earnings History and Estimates for WEX (NYSE:WEX)

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