Zacks: Brokerages Expect Wageworks Inc (WAGE) Will Announce Quarterly Sales of $118.67 Million
Equities research analysts expect Wageworks Inc (NYSE:WAGE) to announce sales of $118.67 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Wageworks’ earnings. The highest sales estimate is $119.01 million and the lowest is $118.48 million. Wageworks posted sales of $87.73 million in the same quarter last year, which suggests a positive year-over-year growth rate of 35.3%. The firm is scheduled to announce its next earnings results on Tuesday, August 8th.
According to Zacks, analysts expect that Wageworks will report full year sales of $118.67 million for the current fiscal year, with estimates ranging from $480.82 million to $485.03 million. For the next financial year, analysts forecast that the firm will post sales of $528.39 million per share, with estimates ranging from $521.11 million to $530.96 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Wageworks.
Wageworks (NYSE:WAGE) last issued its quarterly earnings results on Thursday, May 4th. The business services provider reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.04. Wageworks had a return on equity of 9.09% and a net margin of 5.98%. The firm had revenue of $125 million for the quarter, compared to analyst estimates of $122.08 million. During the same period in the previous year, the firm earned $0.33 earnings per share. The company’s revenue was up 43.7% compared to the same quarter last year.
Several equities research analysts have weighed in on WAGE shares. Wells Fargo & Co cut Wageworks from an “outperform” rating to a “market perform” rating in a report on Monday, March 27th. Zacks Investment Research upgraded Wageworks from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a report on Wednesday, May 10th. Needham & Company LLC increased their price objective on Wageworks from $74.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, February 24th. William Blair reiterated an “outperform” rating on shares of Wageworks in a report on Friday, February 24th. Finally, Chardan Capital increased their price objective on Wageworks from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, February 24th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $76.31.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in WAGE. BlackRock Advisors LLC boosted its position in Wageworks by 10.5% in the third quarter. BlackRock Advisors LLC now owns 19,029 shares of the business services provider’s stock worth $1,159,000 after buying an additional 1,810 shares during the last quarter. California State Teachers Retirement System boosted its position in Wageworks by 0.9% in the third quarter. California State Teachers Retirement System now owns 77,360 shares of the business services provider’s stock worth $4,712,000 after buying an additional 700 shares during the last quarter. Northern Trust Corp boosted its position in Wageworks by 7.9% in the third quarter. Northern Trust Corp now owns 675,564 shares of the business services provider’s stock worth $41,148,000 after buying an additional 49,218 shares during the last quarter. Principal Financial Group Inc. boosted its position in Wageworks by 4.5% in the third quarter. Principal Financial Group Inc. now owns 274,132 shares of the business services provider’s stock worth $16,697,000 after buying an additional 11,906 shares during the last quarter. Finally, KCG Holdings Inc. purchased a new position in Wageworks during the third quarter worth approximately $701,000.
Wageworks (NYSE:WAGE) opened at 70.35 on Friday. The firm has a 50-day moving average price of $71.87 and a 200 day moving average price of $72.97. Wageworks has a 52 week low of $55.53 and a 52 week high of $80.50. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of 104.38 and a beta of 1.04.
WageWorks, Inc is engaged in administering Consumer-Directed Benefits (CDBs). The Company administers CBDs, including pre-tax spending accounts, such as Health Savings Accounts (HSAs), health and dependent care Flexible Spending Accounts (FSAs), and Health Reimbursement Arrangements (HRAs), as well as Commuter Benefit Services, including transit and parking programs, wellness programs, Consolidated Omnibus Budget Reconciliation Act (COBRA) and other employee benefits.
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