Equities analysts expect FleetCor Technologies, Inc. (NYSE:FLT) to announce $2.32 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for FleetCor Technologies’ earnings, with the highest EPS estimate coming in at $2.37 and the lowest estimate coming in at $2.30. FleetCor Technologies posted earnings of $1.90 per share during the same quarter last year, which indicates a positive year over year growth rate of 22.1%. The business is expected to announce its next earnings report on Wednesday, February 14th.
According to Zacks, analysts expect that FleetCor Technologies will report full-year earnings of $8.44 per share for the current year, with EPS estimates ranging from $8.42 to $8.49. For the next year, analysts anticipate that the business will report earnings of $9.75 per share, with EPS estimates ranging from $9.52 to $10.34. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover FleetCor Technologies.
FleetCor Technologies (NYSE:FLT) last issued its quarterly earnings results on Wednesday, November 1st. The business services provider reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.04. The business had revenue of $577.90 million during the quarter, compared to the consensus estimate of $576.78 million. FleetCor Technologies had a return on equity of 20.99% and a net margin of 25.66%. The company’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the company earned $1.92 earnings per share.
Several equities research analysts have weighed in on the company. Wells Fargo & Co set a $225.00 price target on FleetCor Technologies and gave the stock a “buy” rating in a report on Wednesday. Zacks Investment Research upgraded FleetCor Technologies from a “hold” rating to a “buy” rating and set a $221.00 price objective for the company in a research note on Wednesday. Barclays raised their price objective on FleetCor Technologies from $180.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, November 2nd. Jefferies Group restated a “buy” rating and issued a $197.00 price objective on shares of FleetCor Technologies in a research note on Saturday, September 16th. Finally, Deutsche Bank raised their price objective on FleetCor Technologies from $185.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, December 5th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $194.31.
Shares of FleetCor Technologies (FLT) opened at $203.27 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $18,244.29, a PE ratio of 27.51, a price-to-earnings-growth ratio of 1.27 and a beta of 1.53. FleetCor Technologies has a twelve month low of $121.52 and a twelve month high of $203.85.
In related news, insider Kurt Patrick Adams sold 7,099 shares of FleetCor Technologies stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $170.00, for a total transaction of $1,206,830.00. Following the completion of the transaction, the insider now directly owns 9,246 shares in the company, valued at $1,571,820. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.60% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in FleetCor Technologies by 6.7% during the second quarter. Vanguard Group Inc. now owns 7,565,263 shares of the business services provider’s stock valued at $1,090,988,000 after acquiring an additional 474,254 shares in the last quarter. Capital Research Global Investors raised its position in FleetCor Technologies by 156.8% during the second quarter. Capital Research Global Investors now owns 5,377,010 shares of the business services provider’s stock valued at $775,419,000 after acquiring an additional 3,283,010 shares in the last quarter. FMR LLC raised its position in FleetCor Technologies by 50.4% during the second quarter. FMR LLC now owns 3,979,648 shares of the business services provider’s stock valued at $573,905,000 after acquiring an additional 1,334,164 shares in the last quarter. Tiger Global Management LLC raised its position in FleetCor Technologies by 62.8% during the second quarter. Tiger Global Management LLC now owns 2,278,774 shares of the business services provider’s stock valued at $328,622,000 after acquiring an additional 879,049 shares in the last quarter. Finally, Steadfast Capital Management LP raised its position in FleetCor Technologies by 251.4% during the second quarter. Steadfast Capital Management LP now owns 2,049,719 shares of the business services provider’s stock valued at $295,590,000 after acquiring an additional 1,466,464 shares in the last quarter. Institutional investors own 95.20% of the company’s stock.
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About FleetCor Technologies
FleetCor Technologies, Inc is a provider of workforce payment products. The Company offers fuel card payments product solutions, corporate payments products, toll products, lodging cards and gift cards. The Company operates through two segments: North America and International. Its products are sold to businesses, retailers, oil companies and marketers and government entities.
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