Wright Express Corp.

Company Description

Wright Express Corp, together with its subsidiaries, provides payment processing and information management services to the commercial and government vehicle fleet industry in the US, Canada, Australia and New Zealand. The company was founded in 1983 and has a market cap of $955 million.

Shares of Wright Express have been trending higher since November of 2008, helped by the company's strong first-quarter results, reported on Apr 29 that handily beat estimates.

First-Quarter Results

Earnings came in at 42 cents per share, 16 cents ahead of the consensus estimate. The company noted that the average number of vehicles it serviced was up 6% from last year while total Mastercard purchasing volume grew 23% from last year to $649 million.

Estimates Jump

Estimates spiked higher after news of the good quarter hit the Street, with the current-year climbing 30 cents to $1.68 per share. The next-year estimate is up 22 cents in the last 30 days to $1.89, a 12.5% earnings growth projection.

The Chart

Shares of WXS have been rallying since November of last year, bottoming out just above $9 and recently topping at $28. Shares have pulled back a bit lately after the nice run, but the longer term up-trend is still in play. Take a look below.

Read the full analyst report on WXS