Q2 2018 EPS Estimates for FleetCor Technologies, Inc. Cut by Analyst (NYSE:FLT)
FleetCor Technologies, Inc. (NYSE:FLT) – Research analysts at William Blair lowered their Q2 2018 EPS estimates for FleetCor Technologies in a research report issued to clients and investors on Wednesday. William Blair analyst R. Napoli now forecasts that the business services provider will post earnings per share of $2.11 for the quarter, down from their previous estimate of $2.12. William Blair has a “Outperform” rating on the stock.
FLT has been the subject of a number of other research reports. Wells Fargo & Company set a $175.00 target price on shares of FleetCor Technologies and gave the stock a “buy” rating in a research report on Wednesday, April 5th. Jefferies Group LLC restated a “buy” rating and issued a $197.00 target price on shares of FleetCor Technologies in a report on Wednesday, May 24th. SunTrust Banks, Inc. restated a “buy” rating on shares of FleetCor Technologies in a report on Wednesday, May 3rd. Compass Point upgraded shares of FleetCor Technologies from a “neutral” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Wednesday, May 3rd. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $185.00 price target on shares of FleetCor Technologies in a research report on Monday, April 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $178.07.
Shares of FleetCor Technologies (NYSE:FLT) traded up 0.050% during mid-day trading on Friday, reaching $149.575. 205,624 shares of the company’s stock traded hands. The stock has a market cap of $13.80 billion, a PE ratio of 30.594 and a beta of 1.44. FleetCor Technologies has a 12 month low of $121.52 and a 12 month high of $176.42. The firm has a 50 day moving average price of $142.63 and a 200-day moving average price of $149.31.
FleetCor Technologies (NYSE:FLT) last announced its quarterly earnings data on Monday, May 1st. The business services provider reported $1.96 EPS for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.09. The business had revenue of $520.43 million during the quarter, compared to analyst estimates of $514.56 million. FleetCor Technologies had a net margin of 23.89% and a return on equity of 20.20%. The firm’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.53 earnings per share.
Large investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in FleetCor Technologies by 2,721.2% in the first quarter. BlackRock Inc. now owns 5,251,662 shares of the business services provider’s stock worth $795,260,000 after buying an additional 5,065,513 shares in the last quarter. Egerton Capital UK LLP purchased a new position in FleetCor Technologies during the first quarter worth $155,014,000. FMR LLC raised its position in FleetCor Technologies by 32.2% in the first quarter. FMR LLC now owns 2,645,484 shares of the business services provider’s stock worth $400,606,000 after buying an additional 645,085 shares in the last quarter. Renaissance Technologies LLC purchased a new position in FleetCor Technologies during the first quarter worth $80,379,000. Finally, Morgan Stanley raised its position in FleetCor Technologies by 522.4% in the first quarter. Morgan Stanley now owns 517,598 shares of the business services provider’s stock worth $78,381,000 after buying an additional 434,443 shares in the last quarter. 95.28% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Mark A. Johnson bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 5th. The shares were purchased at an average price of $134.15 per share, with a total value of $134,150.00. Following the completion of the acquisition, the director now directly owns 102,491 shares in the company, valued at $13,749,167.65. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey Steven Sloan bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The shares were purchased at an average cost of $134.43 per share, for a total transaction of $268,860.00. Following the acquisition, the director now owns 9,991 shares of the company’s stock, valued at $1,343,090.13. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 8,850 shares of company stock worth $1,208,985. Corporate insiders own 4.30% 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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