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Wex (WEX) Moves 3.4% Higher: Will This Strength Last?
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Wex (WEX - Free Report) shares ended the last trading session 3.4% higher at $156.89. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 2% loss over the past four weeks.
The stock recorded this price as the company benefits from a combination of operational discipline, with an AI-first approach to product development that enhanced the rate of product innovation.
This provider of fuel payment processing for fleet vehicles is expected to post quarterly earnings of $3.92 per share in its upcoming reprt, which represents a year-over-year change of +11.7%. Revenues are expected to be $661.09 million, up 3.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Wex, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on WEX going forward to see if this recent jump can turn into more strength down the road.
Wex is a member of the Zacks Financial Transaction Services industry. One other stock in the same industry, Euronet Worldwide (EEFT - Free Report) , finished the last trading session 1.1% lower at $66.53. EEFT has returned -5.3% over the past month.
Euronet Worldwide's consensus EPS estimate for the upcoming report has changed -0.3% over the past month to $1.42. Compared to the company's year-ago EPS, this represents a change of +25.7%. Euronet Worldwide currently boasts a Zacks Rank of #4 (Sell).
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Wex (WEX) Moves 3.4% Higher: Will This Strength Last?
Wex (WEX - Free Report) shares ended the last trading session 3.4% higher at $156.89. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 2% loss over the past four weeks.
The stock recorded this price as the company benefits from a combination of operational discipline, with an AI-first approach to product development that enhanced the rate of product innovation.
This provider of fuel payment processing for fleet vehicles is expected to post quarterly earnings of $3.92 per share in its upcoming reprt, which represents a year-over-year change of +11.7%. Revenues are expected to be $661.09 million, up 3.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Wex, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on WEX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Wex is a member of the Zacks Financial Transaction Services industry. One other stock in the same industry, Euronet Worldwide (EEFT - Free Report) , finished the last trading session 1.1% lower at $66.53. EEFT has returned -5.3% over the past month.
Euronet Worldwide's consensus EPS estimate for the upcoming report has changed -0.3% over the past month to $1.42. Compared to the company's year-ago EPS, this represents a change of +25.7%. Euronet Worldwide currently boasts a Zacks Rank of #4 (Sell).