Brokerages predict that WageWorks, Inc. (NYSE:WAGE) will report $119.71 million in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for WageWorks’ earnings. The highest sales estimate is $120.30 million and the lowest is $119.37 million. WageWorks reported sales of $101.06 million during the same quarter last year, which indicates a positive year-over-year growth rate of 18.5%. The firm is scheduled to announce its next earnings report on Thursday, February 22nd.
According to Zacks, analysts expect that WageWorks will report full-year sales of $119.71 million for the current financial year, with estimates ranging from $480.08 million to $481.63 million. For the next year, analysts forecast that the company will report sales of $524.11 million per share, with estimates ranging from $503.93 million to $530.20 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for WageWorks.
WageWorks (NYSE:WAGE) last announced its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.41 by $0.04. The company had revenue of $115.70 million during the quarter, compared to the consensus estimate of $117.09 million. WageWorks had a net margin of 9.87% and a return on equity of 9.60%. The company’s quarterly revenue was up 30.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 EPS.
WAGE has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of WageWorks from a “hold” rating to a “sell” rating in a research report on Thursday, July 20th. Stifel Nicolaus reaffirmed a “buy” rating and set a $85.00 price objective on shares of WageWorks in a research report on Monday, July 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $82.00 price objective on shares of WageWorks in a research report on Friday, October 6th. Finally, BidaskClub upgraded WageWorks from a “strong sell” rating to a “sell” rating in a report on Thursday, September 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. WageWorks currently has a consensus rating of “Hold” and an average price target of $83.00.
Shares of WageWorks (NYSE:WAGE) traded up $0.80 during mid-day trading on Friday, hitting $62.30. 423,100 shares of the stock traded hands, compared to its average volume of 292,478. The firm has a market cap of $2,437.65, a P/E ratio of 49.20, a price-to-earnings-growth ratio of 3.40 and a beta of 0.92. WageWorks has a one year low of $56.90 and a one year high of $80.50. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.41.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. lifted its holdings in shares of WageWorks by 3.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,275 shares of the business services provider’s stock worth $220,000 after purchasing an additional 122 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of WageWorks by 9.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,585 shares of the business services provider’s stock worth $107,000 after purchasing an additional 139 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of WageWorks by 0.7% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 23,347 shares of the business services provider’s stock worth $1,569,000 after purchasing an additional 155 shares in the last quarter. Advisor Group Inc. lifted its holdings in shares of WageWorks by 10.8% in the 2nd quarter. Advisor Group Inc. now owns 1,594 shares of the business services provider’s stock worth $107,000 after purchasing an additional 156 shares in the last quarter. Finally, First Mercantile Trust Co. lifted its holdings in shares of WageWorks by 20.7% in the 2nd quarter. First Mercantile Trust Co. now owns 1,925 shares of the business services provider’s stock worth $129,000 after purchasing an additional 330 shares in the last quarter.
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WageWorks Company Profile
WageWorks, Inc is engaged in administering Consumer-Directed Benefits (CDBs). The Company administers CBDs, including pre-tax spending accounts, such as Health Savings Accounts (HSAs), health and dependent care Flexible Spending Accounts (FSAs), and Health Reimbursement Arrangements (HRAs), as well as Commuter Benefit Services, including transit and parking programs, wellness programs, Consolidated Omnibus Budget Reconciliation Act (COBRA) and other employee benefits.
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