$1.83 Earnings Per Share Expected for FleetCor Technologies, Inc. (FLT) This Quarter
Analysts expect FleetCor Technologies, Inc. (NYSE:FLT) to report $1.83 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for FleetCor Technologies’ earnings, with the highest EPS estimate coming in at $1.85 and the lowest estimate coming in at $1.81. FleetCor Technologies posted earnings of $1.42 per share during the same quarter last year, which suggests a positive year over year growth rate of 28.9%. The firm is expected to report its next quarterly earnings results on Thursday, August 3rd.
On average, analysts expect that FleetCor Technologies will report full-year earnings of $7.72 per share for the current year, with EPS estimates ranging from $7.70 to $7.76. For the next financial year, analysts anticipate that the firm will report earnings of $8.77 per share, with EPS estimates ranging from $8.65 to $8.88. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover FleetCor Technologies.
FleetCor Technologies (NYSE:FLT) last announced its quarterly earnings results on Monday, May 1st. The business services provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.09. FleetCor Technologies had a return on equity of 20.20% and a net margin of 23.89%. The company had revenue of $520.43 million during the quarter, compared to the consensus estimate of $514.56 million. During the same period in the prior year, the company earned $1.53 earnings per share. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year.
A number of research analysts have recently issued reports on the company. BidaskClub downgraded FleetCor Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday. Jefferies Group LLC reissued a “buy” rating and issued a $197.00 price objective on shares of FleetCor Technologies in a research note on Wednesday, May 24th. Zacks Investment Research raised FleetCor Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, May 4th. Citigroup Inc. set a $165.00 target price on FleetCor Technologies and gave the company a “buy” rating in a research report on Thursday, May 4th. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $138.00 target price on shares of FleetCor Technologies in a research report on Thursday, May 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $177.07.
Shares of FleetCor Technologies (NYSE FLT) traded down 0.46% during midday trading on Wednesday, hitting $146.56. The company’s stock had a trading volume of 587,821 shares. The company has a 50-day moving average price of $141.22 and a 200 day moving average price of $149.82. The company has a market cap of $13.52 billion, a P/E ratio of 29.98 and a beta of 1.35. FleetCor Technologies has a 1-year low of $121.52 and a 1-year high of $176.42.
In other news, CEO Armando Lins Netto acquired 750 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The shares were acquired at an average price of $133.44 per share, for a total transaction of $100,080.00. Following the completion of the purchase, the chief executive officer now owns 4,710 shares in the company, valued at $628,502.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexey Gavrilenya acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The stock was purchased at an average price of $138.50 per share, for a total transaction of $692,500.00. Following the purchase, the insider now owns 5,000 shares of the company’s stock, valued at approximately $692,500. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 8,850 shares of company stock valued at $1,208,985. 4.60% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of FLT. CWM LLC bought a new stake in FleetCor Technologies during the first quarter valued at about $4,155,000. Russell Investments Group Ltd. increased its stake in FleetCor Technologies by 5.9% in the first quarter. Russell Investments Group Ltd. now owns 390,775 shares of the business services provider’s stock valued at $59,173,000 after buying an additional 21,727 shares in the last quarter. Comerica Bank increased its stake in FleetCor Technologies by 19.0% in the fourth quarter. Comerica Bank now owns 40,547 shares of the business services provider’s stock valued at $6,110,000 after buying an additional 6,461 shares in the last quarter. Norges Bank bought a new stake in FleetCor Technologies during the fourth quarter valued at about $92,080,000. Finally, US Bancorp DE increased its stake in FleetCor Technologies by 4.6% in the first quarter. US Bancorp DE now owns 12,267 shares of the business services provider’s stock valued at $1,858,000 after buying an additional 540 shares in the last quarter. Hedge funds and other institutional investors own 95.33% of the company’s stock.
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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