Q1 2018 EPS Estimates for FleetCor Technologies, Inc. Increased by William Blair (FLT)
FleetCor Technologies, Inc. (NYSE:FLT) – Research analysts at William Blair increased their Q1 2018 EPS estimates for shares of FleetCor Technologies in a research note issued on Friday. William Blair analyst R. Napoli now anticipates that the business services provider will earn $2.09 per share for the quarter, up from their previous estimate of $2.08. William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for FleetCor Technologies’ Q2 2018 earnings at $2.19 EPS, Q3 2018 earnings at $2.35 EPS, Q4 2018 earnings at $2.38 EPS, FY2018 earnings at $9.03 EPS and FY2019 earnings at $10.38 EPS.
FleetCor Technologies (NYSE:FLT) last announced its earnings results on Thursday, August 3rd. The business services provider reported $1.83 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.83. FleetCor Technologies had a return on equity of 20.87% and a net margin of 23.28%. The business had revenue of $541.24 million for the quarter, compared to analyst estimates of $528.33 million. During the same quarter last year, the firm earned $1.56 EPS. FleetCor Technologies’s revenue for the quarter was up 29.5% compared to the same quarter last year. ILLEGAL ACTIVITY NOTICE: “Q1 2018 EPS Estimates for FleetCor Technologies, Inc. Increased by William Blair (FLT)” was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright law. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2017/10/23/q1-2018-eps-estimates-for-fleetcor-technologies-inc-increased-by-william-blair-flt.html.
Several other research analysts have also issued reports on FLT. Citigroup Inc. reiterated a “buy” rating and issued a $180.00 price target (up previously from $165.00) on shares of FleetCor Technologies in a report on Thursday, July 13th. Keefe, Bruyette & Woods set a $202.00 price target on FleetCor Technologies and gave the stock a “buy” rating in a report on Monday, August 7th. Zacks Investment Research upgraded FleetCor Technologies from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a report on Tuesday, August 8th. BidaskClub lowered FleetCor Technologies from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Finally, Credit Suisse Group reiterated an “outperform” rating on shares of FleetCor Technologies in a report on Tuesday, September 5th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $181.75.
Shares of FleetCor Technologies (FLT) opened at 164.68 on Monday. The firm has a market cap of $15.13 billion, a price-to-earnings ratio of 32.56 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 company has a 50-day moving average price of $153.75 and a 200-day moving average price of $146.47.
FleetCor Technologies declared that its board has authorized a share buyback plan on Thursday, August 3rd that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to reacquire up to 1.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
In other news, CEO Andrew Blazye sold 4,963 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $145.00, for a total value of $719,635.00. Following the transaction, the chief executive officer now owns 27,287 shares in the company, valued at $3,956,615. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 15,758 shares of company stock worth $2,274,115 in the last 90 days. Corporate insiders own 4.30% of the company’s stock.
Several hedge funds have recently bought and sold shares of FLT. Commonwealth Bank of Australia lifted its holdings in shares of FleetCor Technologies by 13.0% in the second quarter. Commonwealth Bank of Australia now owns 740 shares of the business services provider’s stock valued at $105,000 after purchasing an additional 85 shares in the last quarter. First Personal Financial Services lifted its holdings in shares of FleetCor Technologies by 49.9% in the second quarter. First Personal Financial Services now owns 790 shares of the business services provider’s stock valued at $114,000 after purchasing an additional 263 shares in the last quarter. Fiduciary Trust Co. bought a new position in shares of FleetCor Technologies in the second quarter valued at approximately $115,000. Tower Research Capital LLC TRC lifted its holdings in shares of FleetCor Technologies by 1.1% in the first quarter. Tower Research Capital LLC TRC now owns 1,059 shares of the business services provider’s stock valued at $160,000 after purchasing an additional 12 shares in the last quarter. Finally, Toronto Dominion Bank lifted its holdings in shares of FleetCor Technologies by 11.1% in the second quarter. Toronto Dominion Bank now owns 1,128 shares of the business services provider’s stock valued at $163,000 after purchasing an additional 113 shares in the last quarter. Institutional investors own 97.61% 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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