Q3 2017 EPS Estimates for FleetCor Technologies, Inc. (FLT) Raised by Analyst
FleetCor Technologies, Inc. (NYSE:FLT) – Analysts at Jefferies Group boosted their Q3 2017 earnings estimates for shares of FleetCor Technologies in a research report issued on Friday. Jefferies Group analyst R. El-Assal now anticipates that the business services provider will post earnings per share of $2.01 for the quarter, up from their prior estimate of $2.00. Jefferies Group has a “Buy” rating and a $197.00 price target on the stock. Jefferies Group also issued estimates for FleetCor Technologies’ Q4 2017 earnings at $2.15 EPS, FY2017 earnings at $7.77 EPS and FY2018 earnings at $8.97 EPS.
A number of other equities research analysts also recently issued reports on the stock. Morgan Stanley upped their price objective on shares of FleetCor Technologies from $184.00 to $189.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th. Zacks Investment Research raised shares of FleetCor Technologies from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research report on Monday, October 9th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $185.00 price objective on shares of FleetCor Technologies in a research report on Tuesday, September 26th. Credit Suisse Group reissued an “outperform” rating on shares of FleetCor Technologies in a research report on Tuesday, September 5th. Finally, BidaskClub raised shares of FleetCor Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. FleetCor Technologies presently has a consensus rating of “Buy” and a consensus target price of $181.75.
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FleetCor Technologies (NYSE:FLT) opened at 164.68 on Monday. The company has a market cap of $15.13 billion, a PE ratio of 32.56 and a beta of 1.44. The company’s 50-day moving average price is $153.75 and its 200-day moving average price is $146.47. FleetCor Technologies has a 12-month low of $121.52 and a 12-month high of $176.42.
FleetCor Technologies (NYSE:FLT) last posted its quarterly earnings results on Thursday, August 3rd. The business services provider reported $1.83 EPS for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $528.33 million. During the same quarter last year, the company posted $1.56 earnings per share. FleetCor Technologies’s quarterly revenue was up 29.5% on a year-over-year basis.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its holdings in FleetCor Technologies by 1.1% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,059 shares of the business services provider’s stock worth $160,000 after buying an additional 12 shares during the period. World Asset Management Inc boosted its holdings in FleetCor Technologies by 0.9% in the 2nd quarter. World Asset Management Inc now owns 4,182 shares of the business services provider’s stock worth $603,000 after buying an additional 36 shares during the period. Advisor Group Inc. boosted its holdings in FleetCor Technologies by 1.1% in the 2nd quarter. Advisor Group Inc. now owns 3,890 shares of the business services provider’s stock worth $543,000 after buying an additional 41 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its holdings in FleetCor Technologies by 0.7% in the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 6,912 shares of the business services provider’s stock worth $996,000 after buying an additional 48 shares during the period. Finally, Commonwealth Bank of Australia boosted its holdings in FleetCor Technologies by 13.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 740 shares of the business services provider’s stock worth $105,000 after buying an additional 85 shares during the period. 97.61% of the stock is owned by institutional investors.
In related news, CEO Andrew Blazye sold 8,353 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $144.00, for a total value of $1,202,832.00. Following the completion of the transaction, the chief executive officer now directly owns 24,766 shares of the company’s stock, valued at approximately $3,566,304. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 15,758 shares of company stock valued at $2,274,115. 4.30% of the stock is owned by insiders.
FleetCor Technologies declared that its board has approved a stock buyback program on Thursday, August 3rd that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the business services provider to purchase up to 1.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
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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