$604.76 Million in Sales Expected for FleetCor Technologies, Inc. (FLT) This Quarter

Equities research analysts expect that FleetCor Technologies, Inc. (NYSE:FLT) will post $604.76 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for FleetCor Technologies’ earnings. The lowest sales estimate is $572.99 million and the highest is $656.30 million. FleetCor Technologies reported sales of $520.43 million in the same quarter last year, which indicates a positive year over year growth rate of 16.2%. The firm is scheduled to announce its next quarterly earnings results on Monday, May 7th.

According to Zacks, analysts expect that FleetCor Technologies will report full year sales of $604.76 million for the current financial year, with estimates ranging from $2.52 billion to $2.81 billion. For the next fiscal year, analysts expect that the business will report sales of $2.78 billion per share, with estimates ranging from $2.75 billion to $2.81 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow FleetCor Technologies.

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

A number of analysts recently weighed in on FLT shares. Credit Suisse Group raised their target price on shares of FleetCor Technologies from $209.00 to $211.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Oppenheimer raised their target price on shares of FleetCor Technologies from $185.00 to $194.00 and gave the stock an “outperform” rating in a report on Thursday, November 2nd. Citigroup raised their target price on shares of FleetCor Technologies from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. Zacks Investment Research cut shares of FleetCor Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Finally, Wells Fargo & Co set a $225.00 target price on shares of FleetCor Technologies and gave the stock a “buy” rating in a report on Wednesday, January 10th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $209.21.

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in FleetCor Technologies by 42.2% in the 4th quarter. BlackRock Inc. now owns 6,119,055 shares of the business services provider’s stock worth $1,177,491,000 after purchasing an additional 1,816,729 shares during the period. Ameriprise Financial Inc. boosted its stake in FleetCor Technologies by 31.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,701,521 shares of the business services provider’s stock worth $263,344,000 after purchasing an additional 404,670 shares during the period. TimesSquare Capital Management LLC boosted its stake in FleetCor Technologies by 13.8% in the 4th quarter. TimesSquare Capital Management LLC now owns 834,770 shares of the business services provider’s stock worth $160,635,000 after purchasing an additional 101,130 shares during the period. Wells Fargo & Company MN boosted its stake in FleetCor Technologies by 128.8% in the 3rd quarter. Wells Fargo & Company MN now owns 598,702 shares of the business services provider’s stock worth $92,661,000 after purchasing an additional 337,073 shares during the period. Finally, Kensico Capital Management Corp boosted its stake in FleetCor Technologies by 52.5% in the 3rd quarter. Kensico Capital Management Corp now owns 450,000 shares of the business services provider’s stock worth $69,647,000 after purchasing an additional 155,000 shares during the period. 99.13% of the stock is owned by hedge funds and other institutional investors.

Shares of FleetCor Technologies (NYSE:FLT) traded up $0.43 during trading hours on Monday, reaching $204.07. 492,409 shares of the company were exchanged, compared to its average volume of 628,222. The company has a market capitalization of $17,911.40, a PE ratio of 25.73, a price-to-earnings-growth ratio of 1.26 and a beta of 1.52. FleetCor Technologies has a 1 year low of $121.52 and a 1 year high of $213.74. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.86.

COPYRIGHT VIOLATION NOTICE: “$604.76 Million in Sales Expected for FleetCor Technologies, Inc. (FLT) This Quarter” was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this piece of content on another site, it was stolen and republished in violation of international copyright and trademark law. The legal version of this piece of content can be accessed at https://www.dispatchtribunal.com/2018/02/22/604-76-million-in-sales-expected-for-fleetcor-technologies-inc-flt-this-quarter.html.

FleetCor Technologies Company Profile

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.

Get a free copy of the Zacks research report on FleetCor Technologies (FLT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for FleetCor Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FleetCor Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply