FleetCor Technologies, Inc. (NYSE:FLT) – Research analysts at William Blair lifted their FY2018 EPS estimates for shares of FleetCor Technologies in a report issued on Wednesday, October 31st. William Blair analyst R. Napoli now forecasts that the business services provider will earn $9.83 per share for the year, up from their prior estimate of $9.81. William Blair also issued estimates for FleetCor Technologies’ Q2 2019 earnings at $2.64 EPS, Q4 2019 earnings at $3.01 EPS, FY2019 earnings at $11.09 EPS and FY2020 earnings at $12.73 EPS.
FLT has been the subject of a number of other research reports. Deutsche Bank reiterated a “buy” rating on shares of FleetCor Technologies in a research note on Thursday, September 27th. Zacks Investment Research downgraded FleetCor Technologies from a “buy” rating to a “sell” rating in a research note on Wednesday, October 3rd. Morgan Stanley lifted their price target on FleetCor Technologies from $238.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, August 3rd. Citigroup lifted their price target on FleetCor Technologies from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, July 20th. Finally, Wolfe Research began coverage on FleetCor Technologies in a research note on Tuesday, July 17th. They set an “outperform” rating for the company. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $234.89.
Shares of FleetCor Technologies stock opened at $197.60 on Monday. FleetCor Technologies has a one year low of $174.31 and a one year high of $230.24. The stock has a market capitalization of $17.44 billion, a P/E ratio of 25.08, a PEG ratio of 1.21 and a beta of 1.51. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.92 and a quick ratio of 0.88.
FleetCor Technologies (NYSE:FLT) last issued its earnings results on Tuesday, October 30th. The business services provider reported $2.68 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.02. FleetCor Technologies had a return on equity of 24.22% and a net margin of 33.01%. The business had revenue of $619.60 million during the quarter, compared to analyst estimates of $609.75 million. During the same period in the previous year, the company posted $2.18 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year.
A number of hedge funds have recently added to or reduced their stakes in FLT. Korea Investment CORP boosted its stake in shares of FleetCor Technologies by 23.7% in the 2nd quarter. Korea Investment CORP now owns 30,292 shares of the business services provider’s stock worth $6,381,000 after buying an additional 5,800 shares during the last quarter. Bank of Nova Scotia purchased a new position in shares of FleetCor Technologies in the 2nd quarter worth approximately $2,065,000. MetLife Investment Advisors LLC purchased a new position in shares of FleetCor Technologies in the 2nd quarter worth approximately $5,558,000. Highland Capital Management LP purchased a new position in shares of FleetCor Technologies in the 2nd quarter worth approximately $421,000. Finally, Legal & General Group Plc boosted its stake in shares of FleetCor Technologies by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 377,429 shares of the business services provider’s stock worth $79,505,000 after buying an additional 7,303 shares during the last quarter. Institutional investors and hedge funds own 98.08% of the company’s stock.
About FleetCor Technologies
FleetCor Technologies, Inc provides commercial payment solutions in North America, Latin America, Europe, and Australasia. The company offers fuel payment solutions to businesses and government entities that operate vehicle fleets, as well as to oil and leasing companies, and fuel marketers. Its fuel payment products are in the form of plastic cards, electronic RFID tags, and paper vouchers to purchase fuel, oil, vehicle maintenance supplies and services, and building supplies.
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