WageWorks, Inc. (WAGE) Expected to Post Earnings of $0.27 Per Share
Wall Street brokerages forecast that WageWorks, Inc. (NYSE:WAGE) will announce earnings of $0.27 per share for the current quarter, according to Zacks. Three analysts have provided estimates for WageWorks’ earnings, with the highest EPS estimate coming in at $0.29 and the lowest estimate coming in at $0.26. WageWorks reported earnings per share of $0.21 during the same quarter last year, which suggests a positive year-over-year growth rate of 28.6%. The company is expected to report its next earnings results on Wednesday, November 8th.
On average, analysts expect that WageWorks will report full-year earnings of $1.19 per share for the current year, with EPS estimates ranging from $1.17 to $1.23. For the next year, analysts expect that the firm 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 research firms that that provide coverage for WageWorks.
WageWorks (NYSE:WAGE) last posted its earnings results on Tuesday, August 1st. The business services provider reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by $0.11. WageWorks had a return on equity of 9.52% and a net margin of 9.60%. The firm had revenue of $119.90 million for the quarter, compared to analyst estimates of $119.18 million. During the same period in the previous year, the company posted $0.36 EPS. WageWorks’s revenue was up 36.7% on a year-over-year basis.
WAGE has been the subject of a number of research reports. Zacks Investment Research raised WageWorks from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a research report on Wednesday, May 10th. TheStreet raised WageWorks from a “c+” rating to a “b” rating in a research report on Friday, May 5th. BidaskClub downgraded 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 equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $78.37.
WageWorks (WAGE) opened at 59.15 on Monday. WageWorks has a 1-year low of $55.65 and a 1-year high of $80.50. The company’s 50-day moving average price is $66.86 and its 200 day moving average price is $71.48. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of 54.02 and a beta of 0.86.
In other news, CEO Joseph L. Jackson sold 495,148 shares of the company’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 $34,288,999.00. Following the completion of the sale, the chief executive officer now owns 103,363 shares of the company’s stock, valued at $7,157,887.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Edgar O. Montes sold 50,000 shares of the company’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 completion of the sale, 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 owned by corporate insiders.
Large investors have recently modified their holdings of the company. Victory Capital Management Inc. increased its stake in shares of 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 during the last quarter. First Mercantile Trust Co. increased its stake in shares of WageWorks by 20.7% in the second quarter. First Mercantile Trust Co. now owns 1,925 shares of the business services provider’s stock valued at $129,000 after buying an additional 330 shares during the last quarter. LS Investment Advisors LLC increased its stake in shares of 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 during the last quarter. BlueCrest Capital Management Ltd bought a new stake in shares of WageWorks during the first quarter valued at $200,000. Finally, Nomura Holdings Inc. bought a new stake in shares of WageWorks during the first quarter valued at $213,000. 96.28% of the stock is owned by institutional investors.
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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