WEX (NYSE:WEX – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 16.100-16.600 for the period, compared to the consensus estimate of 16.250. The company issued revenue guidance of $2.7 billion-$2.8 billion, compared to the consensus revenue estimate of $2.7 billion. WEX also updated its FY24 guidance to $16.10-16.60 EPS.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on WEX. Truist Financial raised their target price on WEX from $185.00 to $220.00 and gave the stock a hold rating in a research report on Friday, February 9th. Barclays boosted their target price on WEX from $255.00 to $280.00 and gave the stock an overweight rating in a research report on Tuesday, April 16th. Evercore ISI boosted their target price on WEX from $250.00 to $275.00 and gave the stock an outperform rating in a research report on Tuesday, March 26th. Mizuho upped their price target on WEX from $225.00 to $235.00 and gave the stock a buy rating in a report on Tuesday, February 13th. Finally, Robert W. Baird upped their price target on WEX from $272.00 to $285.00 and gave the stock an outperform rating in a report on Monday, April 15th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, WEX has an average rating of Moderate Buy and a consensus target price of $240.00.
Read Our Latest Analysis on WEX
WEX Stock Up 0.7 %
WEX (NYSE:WEX – Get Free Report) last issued its earnings results on Thursday, February 8th. The business services provider reported $3.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.15). WEX had a return on equity of 30.92% and a net margin of 10.21%. The business had revenue of $663.30 million during the quarter, compared to the consensus estimate of $656.75 million. Equities research analysts anticipate that WEX will post 13.55 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, insider Hilary A. Rapkin sold 5,800 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $222.55, for a total transaction of $1,290,790.00. Following the sale, the insider now owns 10,569 shares of the company’s stock, valued at $2,352,130.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Ann Elena Drew sold 4,531 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $218.03, for a total transaction of $987,893.93. Following the sale, the insider now owns 3,653 shares in the company, valued at $796,463.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Hilary A. Rapkin sold 5,800 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $222.55, for a total transaction of $1,290,790.00. Following the transaction, the insider now directly owns 10,569 shares in the company, valued at $2,352,130.95. The disclosure for this sale can be found here. Insiders have sold a total of 28,326 shares of company stock valued at $6,281,961 over the last quarter. Corporate 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 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.
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