SunTrust Banks Comments on FleetCor Technologies, Inc.’s FY2017 Earnings (NYSE:FLT)

FleetCor Technologies, Inc. (NYSE:FLT) – Equities researchers at SunTrust Banks boosted their FY2017 earnings per share (EPS) estimates for shares of FleetCor Technologies in a report issued on Monday, Zacks Investment Research reports. SunTrust Banks analyst O. Turner now expects that the business services provider will post earnings per share of $7.77 for the year, up from their previous forecast of $7.74. SunTrust Banks has a “Buy” rating and a $240.00 price objective on the stock. SunTrust Banks also issued estimates for FleetCor Technologies’ Q2 2018 earnings at $2.30 EPS, Q3 2018 earnings at $2.44 EPS, Q4 2018 earnings at $2.43 EPS and FY2018 earnings at $9.29 EPS.

FleetCor Technologies (NYSE:FLT) last posted its quarterly earnings results on Thursday, February 8th. The business services provider reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.09. The company had revenue of $610.00 million during the quarter, compared to the consensus estimate of $605.87 million. FleetCor Technologies had a return on equity of 21.59% and a net margin of 32.90%. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.90 EPS.

Several other research firms also recently weighed in on FLT. Zacks Investment Research downgraded FleetCor Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 30th. Morgan Stanley increased their price objective on FleetCor Technologies from $194.00 to $232.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. Credit Suisse Group increased their price objective on FleetCor Technologies from $186.00 to $206.00 and gave the stock a “neutral” rating in a report on Wednesday, January 17th. Oppenheimer increased their price objective on FleetCor Technologies from $194.00 to $247.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Finally, Wells Fargo & Co set a $225.00 price objective on FleetCor Technologies and gave the stock a “buy” rating in a report on Wednesday, January 10th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $209.21.

FleetCor Technologies (NYSE FLT) opened at $192.69 on Tuesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market capitalization of $17,055.57, a price-to-earnings ratio of 24.25, a PEG ratio of 1.23 and a beta of 1.52. FleetCor Technologies has a 12 month low of $121.52 and a 12 month high of $213.74.

Large investors have recently added to or reduced their stakes in the business. FNY Partners Fund LP purchased a new position in shares of FleetCor Technologies during the 3rd quarter valued at about $125,000. Toronto Dominion Bank raised its holdings in shares of FleetCor Technologies by 11.1% during the 2nd quarter. Toronto Dominion Bank now owns 1,128 shares of the business services provider’s stock valued at $163,000 after buying an additional 113 shares in the last quarter. First Personal Financial Services raised its holdings in shares of FleetCor Technologies by 31.4% during the 4th quarter. First Personal Financial Services now owns 1,020 shares of the business services provider’s stock valued at $196,000 after buying an additional 244 shares in the last quarter. IBM Retirement Fund purchased a new position in shares of FleetCor Technologies during the 3rd quarter valued at about $211,000. Finally, SG Americas Securities LLC purchased a new position in shares of FleetCor Technologies during the 4th quarter valued at about $216,000. 95.38% of the stock is currently owned by hedge funds and other institutional investors.

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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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