$0.27 EPS Expected for WageWorks, Inc. (NYSE:WAGE) This Quarter
Brokerages forecast that WageWorks, Inc. (NYSE:WAGE) will report $0.27 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for WageWorks’ earnings, with the lowest EPS estimate coming in at $0.26 and the highest estimate coming in at $0.29. WageWorks reported earnings of $0.21 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 28.6%. The business is expected to issue its next earnings report on Wednesday, November 8th.
On average, analysts expect that WageWorks will report full year earnings of $1.19 per share for the current fiscal year, with EPS estimates ranging from $1.17 to $1.23. For the next year, analysts expect that the company will post earnings of $1.44 per share, with EPS estimates ranging from $1.43 to $1.44. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for WageWorks.
WageWorks (NYSE:WAGE) last released its earnings results on Tuesday, August 1st. The business services provider reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by $0.11. The business had revenue of $119.90 million for the quarter, compared to analyst estimates of $119.18 million. WageWorks had a return on equity of 9.52% and a net margin of 9.60%. WageWorks’s revenue was up 36.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 EPS.
WAGE has been the topic of a number of recent research reports. TheStreet raised shares of WageWorks from a “c+” rating to a “b” rating in a research note on Friday, May 5th. Zacks Investment Research raised shares of WageWorks from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a research note on Wednesday, May 10th. BidaskClub lowered shares of WageWorks from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 14th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $85.00 price target on shares of WageWorks in a research report on Monday, July 17th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $78.37.
WageWorks (NYSE:WAGE) opened at 59.15 on Monday. The stock’s 50 day moving average is $66.86 and its 200-day moving average is $71.48. WageWorks has a 12 month low of $55.65 and a 12 month high of $80.50. The company has a market capitalization of $2.35 billion, a PE ratio of 54.02 and a beta of 0.86.
In related news, CEO Joseph L. Jackson sold 495,148 shares of the firm’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $69.25, for a total transaction of $34,288,999.00. Following the completion of the sale, the chief executive officer now owns 103,363 shares in the company, valued at $7,157,887.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Edgar O. Montes sold 50,000 shares of the firm’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 $3,462,500.00. Following the sale, the chief operating officer now 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 owned by company insiders.
Hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in WageWorks by 144,950.2% in the first quarter. BlackRock Inc. now owns 4,392,119 shares of the business services provider’s stock worth $317,551,000 after buying an additional 4,389,091 shares during the period. Marshall Wace North America L.P. increased its stake in WageWorks by 3,456.3% in the second quarter. Marshall Wace North America L.P. now owns 456,954 shares of the business services provider’s stock worth $30,616,000 after buying an additional 444,105 shares during the period. Principal Financial Group Inc. increased its stake in WageWorks by 124.3% in the first quarter. Principal Financial Group Inc. now owns 647,285 shares of the business services provider’s stock worth $46,799,000 after buying an additional 358,667 shares during the period. Norges Bank bought a new stake in WageWorks during the fourth quarter worth about $22,315,000. Finally, Riverbridge Partners LLC increased its stake in WageWorks by 60.5% in the second quarter. Riverbridge Partners LLC now owns 694,024 shares of the business services provider’s stock worth $46,638,000 after buying an additional 261,667 shares during the period. Institutional investors and hedge funds own 96.28% of the company’s stock.
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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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