Here's Why WEX Hit A New 52-Week Low On Monday

Shaers of

, a provider of corporate payment solutions, tumbled more than 15 percent on Monday and hit a new 52-week low of $54.42 after the company reported its

and disappointing 2016 guidance. Wex said that it earned $1.15 per share in the fourth quarter on revenue of $212.6 million. Wall Street analysts were expecting the company to earn $1.05 per share on revenue of $202.6 million. Net earnings attributable to common shareholders on a GAAP basis were $20.9 million in the fourth quarter, or $0.54 per diluted share, compared with $47.9 million, or $1.23 per diluted share a year ago. For the full fiscal year, revenue rose 5 percent from 2014's level to $854.6 million but net earnings attributable to shareholders fell to $2.62 per share from $5.18 per share a year ago. Melissa Smith, WEX's president and chief executive officer said: "We exit 2015 with solid fundamentals, a strong underlying growth engine and a portfolio of high-performing products that are both diverse and global. Though we anticipate that the headwinds of 2015 will continue, we are confident in our ability to achieve organic growth in the coming year. We believe the combination of this growth, coupled with our strategic investments, including recently announced acquisitions, position us well in the marketplace." Looking forward to the first quarter of 2016, Wex is guiding its revenue to a range of $190 million to $204.4 million. For the full fiscal year, the company expects its revenue to be in a range of $860 million to $890 million. Wall Street analysts were already estimating Wex's first quarter revenue to be $204.4 million and $907.2 million for the full fiscal year.