WEX Inc (NYSE:WEX) Expected to Post Quarterly Sales of $455.07 Million
Wall Street analysts expect that WEX Inc (NYSE:WEX) will report sales of $455.07 million for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for WEX’s earnings. The highest sales estimate is $458.86 million and the lowest is $452.90 million. WEX posted sales of $381.20 million during the same quarter last year, which would indicate a positive year over year growth rate of 19.4%. The company is scheduled to announce its next earnings results on Wednesday, March 18th.
According to Zacks, analysts expect that WEX will report full year sales of $1.74 billion for the current year. For the next year, analysts forecast that the firm will post sales of $1.92 billion, with estimates ranging from $1.91 billion to $1.94 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow WEX.
WEX (NYSE:WEX) last announced its earnings results on Thursday, October 31st. The business services provider reported $2.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.35 by $0.24. WEX had a net margin of 3.95% and a return on equity of 18.86%. The company had revenue of $459.96 million for the quarter, compared to analyst estimates of $460.00 million. During the same period in the prior year, the business earned $2.23 earnings per share. WEX’s quarterly revenue was up 19.0% on a year-over-year basis.
In other WEX news, CFO Roberto Simon sold 7,651 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $200.03, for a total value of $1,530,429.53. Following the completion of the sale, the chief financial officer now owns 16,902 shares of the company’s stock, valued at $3,380,907.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicola S. Morris sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $197.60, for a total transaction of $592,800.00. Following the completion of the sale, the insider now directly owns 8,383 shares of the company’s stock, valued at approximately $1,656,480.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,416 shares of company stock valued at $2,273,024. 1.12% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the business. Cullen Frost Bankers Inc. acquired a new position in shares of WEX in the third quarter valued at approximately $25,000. Atlantic Trust LLC boosted its holdings in WEX by 40.8% during the second quarter. Atlantic Trust LLC now owns 169 shares of the business services provider’s stock worth $35,000 after purchasing an additional 49 shares during the last quarter. Quest Capital Management Inc. ADV acquired a new position in WEX during the third quarter worth $76,000. Advisory Services Network LLC boosted its holdings in WEX by 30.6% during the second quarter. Advisory Services Network LLC now owns 529 shares of the business services provider’s stock worth $110,000 after purchasing an additional 124 shares during the last quarter. Finally, Nvwm LLC acquired a new position in WEX during the third quarter worth $134,000. 99.41% of the stock is owned by hedge funds and other institutional investors.
Shares of WEX stock traded up $1.80 during trading hours on Friday, reaching $203.38. 154,330 shares of the company were exchanged, compared to its average volume of 313,220. WEX has a fifty-two week low of $131.35 and a fifty-two week high of $221.66. The stock’s fifty day moving average is $198.85 and its two-hundred day moving average is $203.14. The company has a market cap of $8.53 billion, a price-to-earnings ratio of 26.62, a P/E/G ratio of 1.63 and a beta of 1.56. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.30 and a quick ratio of 1.30.
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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