$2.29 EPS Expected for FleetCor Technologies, Inc. (FLT) This Quarter
Wall Street brokerages expect FleetCor Technologies, Inc. (NYSE:FLT) to post $2.29 earnings per share for the current quarter, according to Zacks. Eight analysts have issued estimates for FleetCor Technologies’ earnings, with estimates ranging from $2.25 to $2.33. FleetCor Technologies reported earnings per share of $1.90 in the same quarter last year, which suggests a positive year over year growth rate of 20.5%. The company is expected to announce its next earnings report on Wednesday, February 14th.
On average, analysts expect that FleetCor Technologies will report full year earnings of $8.38 per share for the current financial year, with EPS estimates ranging from $8.34 to $8.50. For the next financial year, analysts expect that the company will post earnings of $9.56 per share, with EPS estimates ranging from $9.32 to $9.72. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover FleetCor Technologies.
FleetCor Technologies (NYSE:FLT) last released its quarterly earnings results on Wednesday, November 1st. The business services provider reported $2.18 EPS for the quarter, topping the consensus estimate of $2.14 by $0.04. FleetCor Technologies had a return on equity of 21.23% and a net margin of 25.66%. The business had revenue of $577.90 million during the quarter, compared to analyst estimates of $576.78 million. During the same period last year, the business posted $1.92 earnings per share. The company’s quarterly revenue was up 19.3% on a year-over-year basis.
Several research analysts have recently commented on the company. BidaskClub lowered FleetCor Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Oppenheimer Holdings, Inc. raised their price target on FleetCor Technologies from $185.00 to $194.00 and gave the stock an “outperform” rating in a research report on Thursday. Morgan Stanley raised their price target on FleetCor Technologies from $189.00 to $194.00 and gave the stock an “overweight” rating in a research report on Thursday. Keefe, Bruyette & Woods set a $202.00 price target on FleetCor Technologies and gave the stock a “buy” rating in a research report on Monday, August 7th. Finally, Citigroup Inc raised their price target on FleetCor Technologies from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $184.23.
FleetCor Technologies (NYSE FLT) opened at $178.80 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $16.33 billion, a P/E ratio of 24.67, a price-to-earnings-growth ratio of 1.33 and a beta of 1.50.
FleetCor Technologies declared that its board has initiated a share buyback plan on Thursday, August 3rd that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the business services provider to repurchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
In other FleetCor Technologies news, CEO Andrew Blazye sold 4,963 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 27,287 shares in the company, valued at $3,956,615. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders sold 15,758 shares of company stock valued at $2,274,115. 4.30% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Commonwealth Bank of Australia raised its stake in 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 buying an additional 85 shares in the last quarter. First Personal Financial Services raised its stake in 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 buying an additional 263 shares in the last quarter. Fiduciary Trust Co. acquired a new stake in FleetCor Technologies in the second quarter valued at $115,000. Toronto Dominion Bank raised its stake in 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 buying an additional 113 shares in the last quarter. Finally, Fulton Bank N.A. raised its stake in FleetCor Technologies by 7.9% in the second quarter. Fulton Bank N.A. now owns 1,426 shares of the business services provider’s stock valued at $206,000 after buying an additional 105 shares in the last quarter. Institutional investors own 97.64% of the company’s stock.
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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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