$380.42 Million in Sales Expected for WEX Inc (WEX) This Quarter
Equities analysts predict that WEX Inc (NYSE:WEX) will post $380.42 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for WEX’s earnings. The lowest sales estimate is $377.10 million and the highest is $386.72 million. WEX reported sales of $354.83 million during the same quarter last year, which indicates a positive year-over-year growth rate of 7.2%. The business is scheduled to issue its next earnings results before the market opens on Thursday, May 2nd.
On average, analysts expect that WEX will report full year sales of $1.70 billion for the current financial year, with estimates ranging from $1.65 billion to $1.74 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $1.90 billion, with estimates ranging from $1.86 billion to $1.92 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover WEX.
WEX (NYSE:WEX) last issued its quarterly earnings results on Wednesday, March 20th. The business services provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.93 by $0.01. WEX had a net margin of 11.18% and a return on equity of 18.30%. The firm had revenue of $381.20 million for the quarter, compared to analysts’ expectations of $372.57 million. During the same period in the previous year, the business earned $1.49 earnings per share. WEX’s revenue for the quarter was up 15.1% compared to the same quarter last year.
Shares of WEX opened at $208.75 on Wednesday. The stock has a market capitalization of $8.73 billion, a P/E ratio of 27.32, a P/E/G ratio of 1.59 and a beta of 1.52. WEX has a 1-year low of $131.35 and a 1-year high of $209.13. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.47 and a current ratio of 1.47.
In other WEX news, CEO Melissa D. Smith sold 5,000 shares of WEX stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $200.00, for a total transaction of $1,000,000.00. Following the transaction, the chief executive officer now owns 75,783 shares of the company’s stock, valued at approximately $15,156,600. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David G. Cooper sold 167 shares of WEX stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $186.05, for a total value of $31,070.35. Following the transaction, the insider now directly owns 14,674 shares in the company, valued at approximately $2,730,097.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,244 shares of company stock worth $2,204,713. 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 WEX. Federated Investors Inc. PA grew its stake in shares of WEX by 2,777.4% in the 3rd quarter. Federated Investors Inc. PA now owns 445,515 shares of the business services provider’s stock valued at $89,441,000 after buying an additional 430,032 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of WEX in the 4th quarter valued at approximately $35,128,000. Norges Bank bought a new stake in shares of WEX in the 4th quarter valued at approximately $32,492,000. FMR LLC grew its stake in shares of WEX by 124.1% in the 4th quarter. FMR LLC now owns 398,482 shares of the business services provider’s stock valued at $55,811,000 after buying an additional 220,688 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of WEX by 14.5% in the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,204,643 shares of the business services provider’s stock valued at $231,279,000 after buying an additional 152,398 shares in the last quarter. 99.48% of the stock is owned by institutional investors and hedge funds.
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 processing services.
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