WEX (NYSE:WEX) Getting Somewhat Positive Media Coverage, Study Shows
News stories about WEX (NYSE:WEX) have been trending somewhat positive on Saturday, according to Accern. The research firm identifies positive and negative news coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. WEX earned a daily sentiment score of 0.07 on Accern’s scale. Accern also assigned media coverage about the business services provider an impact score of 45.1350209625791 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Here are some of the news headlines that may have impacted Accern Sentiment Analysis’s rankings:
- Oppenheimer Holdings, Inc. Reiterates Outperform Rating for WEX Inc. (WEX) (americanbankingnews.com)
- ACOM Solutions, WEX partner on integrated platform (greensheet.com)
- ACOM and WEX, Inc Announce New Strategic FINTECH Partnership (erpsoftwareblog.com)
- WEX Launches New Buyer/Supplier Integrated Payables Solution on a Single Platform (finance.yahoo.com)
- ACOM Solutions and WEX Inc. Partner to Offer Clients a Complete Buyer/Supplier Payables Solution on a Single Platform (finance.yahoo.com)
Shares of WEX (NYSE:WEX) opened at 103.39 on Friday. The firm has a 50-day moving average of $107.66 and a 200 day moving average of $106.47. WEX has a 52-week low of $93.89 and a 52-week high of $122.91. The company has a market capitalization of $4.44 billion, a P/E ratio of 62.36 and a beta of 1.80.
WEX (NYSE:WEX) last released its quarterly earnings data on Thursday, July 27th. The business services provider reported $1.26 EPS for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.11. WEX had a net margin of 6.09% and a return on equity of 13.03%. The firm had revenue of $303.90 million during the quarter, compared to analysts’ expectations of $293.91 million. During the same period in the previous year, the business posted $1.08 earnings per share. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. On average, analysts anticipate that WEX will post $5.27 EPS for the current year.
WEX has been the subject of several recent research reports. Zacks Investment Research raised shares of WEX from a “sell” rating to a “hold” rating and set a $124.00 target price for the company in a research report on Friday, July 14th. Barclays PLC reissued a “hold” rating and issued a $118.00 target price on shares of WEX in a research report on Wednesday, August 2nd. BidaskClub raised shares of WEX from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Jefferies Group LLC reissued a “buy” rating and issued a $135.00 target price on shares of WEX in a research report on Friday, May 5th. Finally, Deutsche Bank AG raised shares of WEX from a “hold” rating to a “buy” rating and boosted their target price for the stock from $116.00 to $125.00 in a research report on Monday, June 5th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $120.56.
In other WEX news, SVP George W. Hogan sold 4,500 shares of WEX stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $110.00, for a total transaction of $495,000.00. Following the completion of the transaction, the senior vice president now directly owns 15,615 shares of the company’s stock, valued at $1,717,650. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Hilary A. Rapkin sold 2,000 shares of WEX stock in a transaction on Monday, June 26th. The stock was sold at an average price of $105.00, for a total transaction of $210,000.00. Following the transaction, the senior vice president now directly owns 15,424 shares of the company’s stock, valued at $1,619,520. The disclosure for this sale can be found here. Insiders own 0.86% of the company’s stock.
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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