Analysts expect Wageworks Inc (NYSE:WAGE) to report sales of $117.81 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Wageworks’ earnings, with the highest sales estimate coming in at $119.07 million and the lowest estimate coming in at $115.75 million. Wageworks reported sales of $115.75 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 1.8%. The firm is expected to report its next quarterly earnings report on Wednesday, December 12th.
According to Zacks, analysts expect that Wageworks will report full year sales of $486.64 million for the current fiscal year, with estimates ranging from $479.90 million to $492.20 million. For the next financial year, analysts expect that the company will post sales of $508.02 million, with estimates ranging from $490.58 million to $529.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Wageworks.
A number of analysts have recently issued reports on WAGE shares. Zacks Investment Research raised shares of Wageworks from a “sell” rating to a “hold” rating in a report on Friday, August 10th. JMP Securities cut shares of Wageworks from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 13th. Wells Fargo & Co set a $45.00 target price on shares of Wageworks and gave the company a “hold” rating in a report on Tuesday, October 16th. Finally, SunTrust Banks dropped their price objective on shares of Wageworks to $56.00 and set a “buy” rating for the company in a research note on Thursday, September 13th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $58.00.
Shares of Wageworks stock opened at $29.48 on Friday. The stock has a market capitalization of $1.23 billion, a P/E ratio of 24.88 and a beta of 1.21. Wageworks has a 1 year low of $29.18 and a 1 year high of $63.45.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. River Road Asset Management LLC acquired a new stake in Wageworks during the third quarter worth about $4,099,000. Schwab Charles Investment Management Inc. raised its stake in Wageworks by 5.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 208,058 shares of the business services provider’s stock valued at $10,403,000 after buying an additional 10,371 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Wageworks during the 2nd quarter worth approximately $1,560,000. Bank of America Corp DE raised its position in shares of Wageworks by 20.9% during the 2nd quarter. Bank of America Corp DE now owns 506,605 shares of the business services provider’s stock worth $25,330,000 after purchasing an additional 87,676 shares during the period. Finally, BlackRock Inc. increased its position in Wageworks by 7.9% in the 2nd quarter. BlackRock Inc. now owns 5,548,500 shares of the business services provider’s stock valued at $277,424,000 after acquiring an additional 406,916 shares during the period.
WageWorks, Inc is a leader in administering Consumer-Directed Benefits (CDBs). WageWorks is solely dedicated to administering CDBs, including pre-tax spending accounts, such as Health Savings Accounts (HSAs), health and dependent care Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), as well as Commuter Benefit Services, including transit and parking programs, wellness programs, COBRA, and other employee benefits.
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