Zacks: Brokerages Expect Wageworks Inc (WAGE) to Post $0.46 EPS

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Analysts expect that Wageworks Inc (NYSE:WAGE) will post $0.46 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Wageworks’ earnings, with the highest EPS estimate coming in at $0.49 and the lowest estimate coming in at $0.43. The firm is scheduled to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Wageworks will report full-year earnings of $1.95 per share for the current fiscal year, with EPS estimates ranging from $1.79 to $2.21. For the next financial year, analysts expect that the company will post earnings of $1.98 per share, with EPS estimates ranging from $1.62 to $2.18. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Wageworks.

Several equities analysts recently issued reports on WAGE shares. Zacks Investment Research raised Wageworks from a “sell” rating to a “hold” rating in a research report on Saturday, November 17th. JMP Securities raised Wageworks from a “market perform” rating to an “outperform” rating and set a $29.48 price objective on the stock in a research report on Monday, December 10th. SunTrust Banks lowered their price objective on Wageworks to $50.00 and set a “buy” rating on the stock in a research report on Monday, January 28th. Finally, Wells Fargo & Co raised Wageworks from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $45.00 to $65.00 in a research report on Friday, March 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $52.12.

A number of hedge funds have recently added to or reduced their stakes in WAGE. Royce & Associates LP lifted its position in Wageworks by 51.2% in the 4th quarter. Royce & Associates LP now owns 992 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 336 shares in the last quarter. Paradigm Asset Management Co. LLC purchased a new position in Wageworks in the third quarter worth $36,000. Pearl River Capital LLC purchased a new position in Wageworks in the fourth quarter worth $46,000. We Are One Seven LLC purchased a new position in Wageworks in the fourth quarter worth $55,000. Finally, Quantamental Technologies LLC purchased a new position in Wageworks in the fourth quarter worth $59,000.

Shares of Wageworks stock traded up $9.12 during midday trading on Friday, hitting $38.99. The company had a trading volume of 4,451,968 shares, compared to its average volume of 645,773. Wageworks has a 52-week low of $25.15 and a 52-week high of $56.80.

About Wageworks

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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