FleetCor Technologies, Inc. (FLT) Scheduled to Post Earnings on Monday
FleetCor Technologies, Inc. (NYSE:FLT) will be posting its quarterly earnings results after the market closes on Monday, October 30th. Analysts expect FleetCor Technologies to post earnings of $2.14 per share for the quarter. FleetCor Technologies has set its FY17 guidance at $8.24-8.44 EPS.
FleetCor Technologies (NYSE:FLT) last posted its earnings results on Thursday, August 3rd. The business services provider reported $1.83 EPS for the quarter, hitting the consensus estimate of $1.83. The company had revenue of $541.24 million during the quarter, compared to the consensus estimate of $528.33 million. FleetCor Technologies had a net margin of 23.28% and a return on equity of 20.87%. The firm’s revenue for the quarter was up 29.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.56 earnings per share. On average, analysts expect FleetCor Technologies to post $8.38 EPS for the current fiscal year and $9.56 EPS for the next fiscal year.
FleetCor Technologies, Inc. (NYSE FLT) traded down 0.06% during midday trading on Monday, hitting $164.58. 128,464 shares of the stock traded hands. The stock’s 50-day moving average price is $153.75 and its 200-day moving average price is $146.47. The stock has a market capitalization of $15.12 billion, a P/E ratio of 32.54 and a beta of 1.44. FleetCor Technologies, Inc. has a 52 week low of $121.52 and a 52 week high of $176.42.
FleetCor Technologies declared that its Board of Directors has initiated a share repurchase plan on Thursday, August 3rd that allows the company to buyback $250.00 million in shares. This buyback authorization allows the business services provider to repurchase up to 1.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
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In other FleetCor Technologies news, CEO Andrew Blazye sold 8,353 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $144.00, for a total transaction of $1,202,832.00. Following the completion of the sale, the chief executive officer now directly owns 24,766 shares in the company, valued at approximately $3,566,304. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 15,758 shares of company stock valued at $2,274,115. 4.30% of the stock is owned by company insiders.
A number of brokerages recently issued reports on FLT. William Blair reissued an “outperform” rating on shares of FleetCor Technologies in a research report on Wednesday, July 12th. BidaskClub cut shares of FleetCor Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Keefe, Bruyette & Woods set a $202.00 price target on shares of FleetCor Technologies and gave the company a “buy” rating in a research report on Monday, August 7th. Jefferies Group LLC reissued a “buy” rating and set a $197.00 price target on shares of FleetCor Technologies in a research report on Saturday, September 16th. Finally, Zacks Investment Research raised shares of FleetCor Technologies from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a research report on Monday, October 9th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $181.75.
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.
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