Brokerages Expect WEX Inc. (NYSE:WEX) Will Announce Quarterly Sales of $505.08 Million

Equities research analysts expect WEX Inc. (NYSE:WEXGet Rating) to report sales of $505.08 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for WEX’s earnings. The highest sales estimate is $514.80 million and the lowest is $498.50 million. WEX posted sales of $410.76 million in the same quarter last year, which suggests a positive year over year growth rate of 23%. The firm is expected to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that WEX will report full-year sales of $2.11 billion for the current year, with estimates ranging from $2.06 billion to $2.18 billion. For the next financial year, analysts expect that the business will report sales of $2.29 billion, with estimates ranging from $2.21 billion to $2.33 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover WEX.

WEX (NYSE:WEXGet Rating) last announced its earnings results on Thursday, February 10th. The business services provider reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.19. WEX had a net margin of 0.01% and a return on equity of 19.11%. The company had revenue of $497.50 million during the quarter, compared to analyst estimates of $488.22 million. During the same period in the previous year, the business earned $1.08 earnings per share. The firm’s quarterly revenue was up 24.7% compared to the same quarter last year.

Several equities analysts have recently commented on WEX shares. StockNews.com started coverage on shares of WEX in a research note on Thursday, March 31st. They set a “hold” rating for the company. Truist Financial raised their target price on shares of WEX from $170.00 to $185.00 in a research note on Monday, February 14th. Credit Suisse Group increased their price target on shares of WEX from $180.00 to $195.00 and gave the company a “neutral” rating in a report on Monday, February 14th. Wells Fargo & Company assumed coverage on shares of WEX in a report on Monday, April 4th. They issued an “overweight” rating and a $205.00 target price on the stock. Finally, Mizuho raised their target price on shares of WEX from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, February 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, WEX presently has an average rating of “Hold” and an average price target of $202.31.

In other WEX news, insider Melanie J. Tinto sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, February 14th. The shares were sold at an average price of $177.07, for a total transaction of $212,484.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.26% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley grew its position in WEX by 78.8% during the second quarter. Morgan Stanley now owns 294,916 shares of the business services provider’s stock valued at $57,185,000 after buying an additional 129,958 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of WEX by 359.6% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,057 shares of the business services provider’s stock valued at $1,419,000 after purchasing an additional 6,304 shares during the period. New York State Teachers Retirement System lifted its stake in shares of WEX by 5.1% in the third quarter. New York State Teachers Retirement System now owns 51,911 shares of the business services provider’s stock worth $9,144,000 after buying an additional 2,528 shares in the last quarter. Westpac Banking Corp lifted its stake in shares of WEX by 12.8% in the third quarter. Westpac Banking Corp now owns 40,629 shares of the business services provider’s stock worth $7,156,000 after buying an additional 4,600 shares in the last quarter. Finally, Stephens Inc. AR lifted its stake in shares of WEX by 12.9% in the third quarter. Stephens Inc. AR now owns 45,341 shares of the business services provider’s stock worth $7,986,000 after buying an additional 5,175 shares in the last quarter. 99.42% of the stock is currently owned by institutional investors and hedge funds.

NYSE WEX opened at $173.46 on Friday. The company has a 50-day simple moving average of $168.71 and a two-hundred day simple moving average of $158.79. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.47. WEX has a 12-month low of $123.01 and a 12-month high of $232.07. The firm has a market cap of $7.78 billion, a price-to-earnings ratio of -17,346.00, a PEG ratio of 0.90 and a beta of 1.69.

About WEX (Get Rating)

WEX Inc provides financial technology services in the United States and internationally. 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 processing services. Its services include customer, account activation, and account retention services; authorization and billing inquiries, and account maintenance services; credit and collections services; merchant services; analytics solutions with access to web-based data analytics platform that offers insights to fleet managers; and ancillary services and tools to fleets to manage expenses and capital requirements.

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