Positive News Coverage Extremely Likely to Impact WEX (WEX) Stock Price
Media headlines about WEX (NYSE:WEX) have been trending positive on Friday, Alpha One reports. The research group, a unit of Accern, scores the sentiment of press coverage by monitoring more than twenty million blog and news sources. Alpha One ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. WEX earned a news sentiment score of 0.44 on Alpha One’s scale. Alpha One also assigned news coverage about the business services provider an impact score of 100 out of 100, meaning that recent press coverage is extremely likely to have an impact on the stock’s share price in the near term.
Here are some of the news articles that may have effected AlphaOne Sentiment’s analysis:
- WEX to Offer Fuel Locations in Gas Buddy Pact (automotive-fleet.com)
- GasBuddy Partners with WEX Inc. (cstoredecisions.com)
- WEX partners with GasBuddy to target the consumer market (mainebiz.biz)
- WEX Inc. : and GasBuddy Form Strategic Alliance (4-traders.com)
- WEX Inc. and GasBuddy Form Strategic Alliance (finance.yahoo.com)
Several brokerages have weighed in on WEX. TheStreet upgraded shares of WEX from a “c” rating to a “b-” rating in a research note on Monday, June 5th. Deutsche Bank AG raised shares of WEX from a “hold” rating to a “buy” rating and raised their price target for the stock from $116.00 to $125.00 in a report on Monday, June 5th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $135.00 price target on shares of WEX in a report on Monday, May 15th. Zacks Investment Research cut shares of WEX from a “buy” rating to a “hold” rating in a report on Saturday, February 18th. Finally, Credit Suisse Group raised shares of WEX from a “neutral” rating to an “outperform” rating in a report on Thursday, April 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. WEX currently has a consensus rating of “Hold” and an average price target of $116.70.
WEX (WEX) traded down 1.01% during mid-day trading on Friday, reaching $104.98. 506,006 shares of the company traded hands. The firm has a market capitalization of $4.50 billion, a price-to-earnings ratio of 65.82 and a beta of 1.82. WEX has a 52 week low of $80.67 and a 52 week high of $122.91. The stock’s 50 day moving average price is $102.37 and its 200 day moving average price is $108.14.
WEX (NYSE:WEX) last released its quarterly earnings results on Thursday, April 27th. The business services provider reported $1.13 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.13. The business had revenue of $291.36 million during the quarter, compared to the consensus estimate of $281.68 million. WEX had a net margin of 6.07% and a return on equity of 13.31%. The business’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 earnings per share. Equities analysts forecast that WEX will post $5.31 EPS for the current year.
In other WEX news, SVP Scott Robert Phillips sold 22,135 shares of WEX stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $99.90, for a total value of $2,211,286.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.86% of the company’s stock.
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WEX Inc is a provider of corporate payment solutions. The Company operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment provides customers with payment and transaction processing services designed for the needs of commercial and government fleets.
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