WEX (NYSE:WEX) Issues Quarterly Earnings Results

WEX (NYSE:WEX) issued its quarterly earnings results on Thursday. The business services provider reported $2.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.39 by $0.22, Briefing.com reports. WEX had a return on equity of 18.86% and a net margin of 3.95%. The company had revenue of $440.05 million for the quarter, compared to the consensus estimate of $455.69 million. During the same period in the previous year, the business posted $2.02 EPS. The company’s revenue for the quarter was up 15.4% on a year-over-year basis.

WEX traded up $8.90 during trading on Thursday, reaching $228.62. 977,879 shares of the company’s stock were exchanged, compared to its average volume of 377,348. WEX has a fifty-two week low of $169.48 and a fifty-two week high of $234.95. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.46. The business has a 50 day moving average price of $218.46 and a 200 day moving average price of $206.15. The company has a market capitalization of $9.29 billion, a P/E ratio of 151.40, a PEG ratio of 1.53 and a beta of 1.51.

Several equities research analysts have recently issued reports on WEX shares. Cowen began coverage on shares of WEX in a research note on Friday, January 31st. They issued a “market perform” rating and a $249.00 price objective on the stock. Deutsche Bank upped their target price on shares of WEX from $226.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Citigroup increased their price target on shares of WEX from $220.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. ValuEngine downgraded shares of WEX from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Finally, Wolfe Research set a $240.00 price target on shares of WEX and gave the stock a “buy” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $237.38.

In other WEX news, CFO Roberto Simon sold 7,651 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $200.03, for a total transaction of $1,530,429.53. Following the completion of the transaction, the chief financial officer now owns 16,902 shares in the company, valued at $3,380,907.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Melissa D. Smith sold 13,736 shares of WEX stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $214.99, for a total value of $2,953,102.64. Following the sale, the chief executive officer now directly owns 71,339 shares in the company, valued at $15,337,171.61. The disclosure for this sale can be found here. Insiders own 1.12% of the company’s stock.

About WEX

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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Earnings History for WEX (NYSE:WEX)

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