Brokerages Anticipate WageWorks, Inc. (WAGE) Will Announce Quarterly Sales of $119.05 Million
Wall Street analysts forecast that WageWorks, Inc. (NYSE:WAGE) will announce sales of $119.05 million for the current quarter, Zacks reports. Four analysts have provided estimates for WageWorks’ earnings, with the highest sales estimate coming in at $120.00 million and the lowest estimate coming in at $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 35.7%. The company is expected to report its next quarterly earnings results after the market closes on Tuesday, August 1st.
According to Zacks, analysts expect that WageWorks will report full-year sales of $119.05 million for the current financial year, with estimates ranging from $480.82 million to $485.03 million. For the next year, analysts forecast that the firm will post sales of $528.71 million per share, with estimates ranging from $521.11 million to $531.40 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover WageWorks.
WageWorks (NYSE:WAGE) last released its quarterly earnings data on Thursday, May 4th. The business services provider reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.04. The business had revenue of $125 million for the quarter, compared to analyst estimates of $122.08 million. WageWorks had a return on equity of 9.85% and a net margin of 6.33%. The company’s revenue was up 43.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.33 EPS.
A number of research analysts have commented on WAGE shares. Zacks Investment Research upgraded WageWorks from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research note on Wednesday, May 10th. Wells Fargo & Company downgraded WageWorks from an “outperform” rating to a “market perform” rating in a research note on Monday, March 27th. TheStreet upgraded WageWorks from a “c+” rating to a “b” rating in a research note on Friday, May 5th. BidaskClub downgraded WageWorks from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 14th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $85.00 target price on shares of WageWorks in a research note on Monday. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $78.37.
WageWorks (NYSE WAGE) traded down 0.98% during trading on Thursday, hitting $65.35. The stock had a trading volume of 132,827 shares. The company has a 50 day moving average of $68.41 and a 200-day moving average of $71.87. WageWorks has a 12-month low of $55.65 and a 12-month high of $80.50. The company has a market cap of $2.43 billion, a P/E ratio of 96.96 and a beta of 0.87.
In related news, CEO Joseph L. Jackson sold 495,148 shares of the business’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $69.25, for a total transaction of $34,288,999.00. Following the completion of the transaction, the chief executive officer now owns 103,363 shares of the company’s stock, valued at approximately $7,157,887.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Edgar O. Montes sold 50,000 shares of the business’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $69.25, for a total value of $3,462,500.00. Following the transaction, the chief operating officer now directly owns 71,895 shares of the company’s stock, valued at approximately $4,978,728.75. The disclosure for this sale can be found here. 3.54% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. boosted its position in WageWorks by 8.0% in the first quarter. Victory Capital Management Inc. now owns 1,819 shares of the business services provider’s stock valued at $132,000 after buying an additional 134 shares in the last quarter. LS Investment Advisors LLC boosted its position in WageWorks by 86.1% in the first quarter. LS Investment Advisors LLC now owns 2,637 shares of the business services provider’s stock valued at $191,000 after buying an additional 1,220 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new position in WageWorks during the first quarter valued at $200,000. Nomura Holdings Inc. acquired a new position in WageWorks during the first quarter valued at $213,000. Finally, Teacher Retirement System of Texas boosted its position in WageWorks by 2.5% in the first quarter. Teacher Retirement System of Texas now owns 2,969 shares of the business services provider’s stock valued at $215,000 after buying an additional 73 shares in the last quarter. 96.47% of the stock is owned by institutional investors and hedge funds.
WageWorks Company Profile
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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