WEX Inc (WEX) Expected to Post Quarterly Sales of $375.20 Million

Wall Street brokerages expect that WEX Inc (NYSE:WEX) will post sales of $375.20 million for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for WEX’s earnings. The highest sales estimate is $379.31 million and the lowest is $372.60 million. WEX reported sales of $324.00 million in the same quarter last year, which indicates a positive year-over-year growth rate of 15.8%. The firm is scheduled to issue its next earnings results before the market opens on Wednesday, October 31st.

On average, analysts expect that WEX will report full year sales of $1.47 billion for the current financial year, with estimates ranging from $1.46 billion to $1.49 billion. For the next fiscal year, analysts expect that the business will post sales of $1.66 billion, with estimates ranging from $1.63 billion to $1.68 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for WEX.

WEX (NYSE:WEX) last released its quarterly earnings results on Thursday, August 2nd. The business services provider reported $2.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.05 by $0.04. The company had revenue of $370.88 million for the quarter, compared to analyst estimates of $366.21 million. WEX had a net margin of 14.61% and a return on equity of 15.61%. The firm’s revenue was up 22.0% on a year-over-year basis. During the same quarter last year, the business earned $1.26 earnings per share.

Several analysts recently commented on WEX shares. Wolfe Research started coverage on shares of WEX in a research report on Tuesday, July 17th. They set a “market perform” rating on the stock. Citigroup raised their price target on shares of WEX from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, July 20th. SunTrust Banks restated a “buy” rating and set a $215.00 price target on shares of WEX in a research report on Friday, August 3rd. Morgan Stanley raised their price target on shares of WEX from $188.00 to $190.00 and gave the company a “hold” rating in a research report on Friday, August 3rd. Finally, Zacks Investment Research upgraded shares of WEX from a “hold” rating to a “buy” rating and set a $211.00 price target on the stock in a research report on Saturday, October 13th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. WEX presently has an average rating of “Buy” and a consensus price target of $194.80.

WEX stock opened at $185.87 on Friday. The firm has a market cap of $8.25 billion, a P/E ratio of 40.39, a PEG ratio of 1.69 and a beta of 1.71. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 1.19. WEX has a one year low of $118.40 and a one year high of $203.49.

In other news, Director Regina O. Sommer sold 1,099 shares of WEX stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $188.47, for a total value of $207,128.53. Following the sale, the director now owns 12,910 shares in the company, valued at $2,433,147.70. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Hilary A. Rapkin sold 3,723 shares of WEX stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $188.57, for a total transaction of $702,046.11. Following the completion of the sale, the insider now owns 12,544 shares in the company, valued at approximately $2,365,422.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,335 shares of company stock worth $3,461,862. Company insiders own 4.57% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of WEX by 3.8% in the second quarter. BlackRock Inc. now owns 3,484,141 shares of the business services provider’s stock valued at $663,658,000 after purchasing an additional 128,910 shares during the period. Frontier Capital Management Co. LLC lifted its stake in shares of WEX by 18.8% in the second quarter. Frontier Capital Management Co. LLC now owns 868,459 shares of the business services provider’s stock worth $165,424,000 after buying an additional 137,732 shares in the last quarter. Hermes Investment Management Ltd. lifted its stake in shares of WEX by 2.7% in the second quarter. Hermes Investment Management Ltd. now owns 416,242 shares of the business services provider’s stock worth $79,286,000 after buying an additional 11,117 shares in the last quarter. Millennium Management LLC lifted its stake in shares of WEX by 305.9% in the second quarter. Millennium Management LLC now owns 349,272 shares of the business services provider’s stock worth $66,529,000 after buying an additional 263,217 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of WEX by 5.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 244,344 shares of the business services provider’s stock worth $46,543,000 after buying an additional 13,379 shares in the last quarter. Institutional investors and hedge funds own 99.32% of the company’s stock.

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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