WEX Inc. (WEX) Forecasted to Post Q4 2017 Earnings of $1.33 Per Share
WEX Inc. (NYSE:WEX) – William Blair lifted their Q4 2017 earnings estimates for WEX in a research report issued on Friday. William Blair analyst R. Napoli now anticipates that the business services provider will post earnings of $1.33 per share for the quarter, up from their previous forecast of $1.28. William Blair has a “Outperform” rating on the stock. William Blair also issued estimates for WEX’s Q2 2018 earnings at $1.49 EPS, Q4 2018 earnings at $1.54 EPS, FY2018 earnings at $5.91 EPS and FY2019 earnings at $6.86 EPS.
Other equities analysts have also recently issued reports about the company. Keefe, Bruyette & Woods set a $130.00 target price on WEX and gave the stock a “buy” rating in a report on Sunday, August 13th. BidaskClub raised WEX from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Mizuho initiated coverage on WEX in a report on Tuesday, June 27th. They issued a “buy” rating and a $115.00 target price on the stock. Goldman Sachs Group, Inc. (The) raised WEX from a “neutral” rating to a “buy” rating and raised their target price for the stock from $114.00 to $126.00 in a report on Monday, September 11th. Finally, Zacks Investment Research raised WEX from a “hold” rating to a “buy” rating and set a $134.00 target price on the stock in a report on Friday, October 13th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $125.17.
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Shares of WEX (NYSE WEX) opened at 122.00 on Monday. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of 73.58 and a beta of 1.79. WEX has a 1-year low of $97.26 and a 1-year high of $123.60. The company’s 50 day moving average price is $113.81 and its 200-day moving average price is $107.00.
WEX (NYSE:WEX) last released its quarterly earnings data on Thursday, July 27th. The business services provider reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. WEX had a return on equity of 13.03% and a net margin of 6.09%. The company had revenue of $303.90 million for the quarter, compared to analyst estimates of $293.91 million. During the same period in the previous year, the company posted $1.08 EPS. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year.
Several hedge funds have recently modified their holdings of WEX. FNY Partners Fund LP bought a new stake in shares of WEX in the first quarter worth about $103,000. First Bank & Trust increased its holdings in shares of WEX by 5.1% in the second quarter. First Bank & Trust now owns 1,686 shares of the business services provider’s stock worth $176,000 after purchasing an additional 82 shares during the last quarter. Fiduciary Trust Co. bought a new stake in shares of WEX in the second quarter worth about $192,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of WEX by 9.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,850 shares of the business services provider’s stock worth $193,000 after purchasing an additional 162 shares during the last quarter. Finally, Huntington National Bank increased its holdings in shares of WEX by 13.3% in the second quarter. Huntington National Bank now owns 1,908 shares of the business services provider’s stock worth $199,000 after purchasing an additional 224 shares during the last quarter.
In other news, SVP Hilary A. Rapkin sold 2,500 shares of WEX stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $115.00, for a total value of $287,500.00. Following the sale, the senior vice president now directly owns 15,224 shares of the company’s stock, valued at $1,750,760. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Melissa D. Smith sold 3,333 shares of WEX stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $115.00, for a total value of $383,295.00. Following the completion of the sale, the chief executive officer now directly owns 67,047 shares in the company, valued at $7,710,405. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,399,166 shares of company stock worth $245,448,255. Insiders own 0.86% of the company’s stock.
WEX announced that its Board of Directors has initiated a stock buyback program on Tuesday, September 26th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
WEX Company Profile
WEX Inc is a provider of corporate payment solutions. The Company operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment provides customers with payment and transaction processing services designed for the needs of commercial and government fleets.
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