Brokerages Expect FleetCor Technologies, Inc. (FLT) Will Announce Earnings of $2.32 Per Share
Equities research analysts predict that FleetCor Technologies, Inc. (NYSE:FLT) will report earnings per share of $2.32 for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for FleetCor Technologies’ earnings, with the highest EPS estimate coming in at $2.37 and the lowest estimate coming in at $2.29. FleetCor Technologies posted earnings of $1.90 per share during the same quarter last year, which would indicate a positive year over year growth rate of 22.1%. The business is scheduled to announce its next earnings report on Wednesday, February 14th.
On average, analysts expect that FleetCor Technologies will report full-year earnings of $8.44 per share for the current financial year, with EPS estimates ranging from $8.41 to $8.49. For the next year, analysts forecast that the firm will post earnings of $9.67 per share, with EPS estimates ranging from $9.52 to $9.77. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for FleetCor Technologies.
FleetCor Technologies (NYSE:FLT) last issued its earnings results on Wednesday, November 1st. The business services provider reported $2.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.14 by $0.04. The business had revenue of $577.90 million for the quarter, compared to the consensus estimate of $576.78 million. FleetCor Technologies had a net margin of 25.66% and a return on equity of 20.99%. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.92 earnings per share.
FLT has been the topic of several analyst reports. Keefe, Bruyette & Woods set a $202.00 target price on shares of FleetCor Technologies and gave the company a “buy” rating in a report on Monday, August 7th. Zacks Investment Research raised shares of FleetCor Technologies from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a report on Tuesday, August 8th. BidaskClub downgraded shares of FleetCor Technologies from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Credit Suisse Group reaffirmed an “outperform” rating on shares of FleetCor Technologies in a report on Tuesday, September 5th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $197.00 target price on shares of FleetCor Technologies in a report on Saturday, September 16th. Two investment analysts have 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 $184.23.
In other FleetCor Technologies news, CEO Andrew Blazye sold 2,442 shares of FleetCor Technologies stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $144.00, for a total transaction of $351,648.00. Following the completion of the transaction, the chief executive officer now owns 24,766 shares in the company, valued at $3,566,304. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kurt Patrick Adams sold 7,099 shares of FleetCor Technologies stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $170.00, for a total transaction of $1,206,830.00. Following the transaction, the insider now owns 9,246 shares of the company’s stock, valued at approximately $1,571,820. The disclosure for this sale can be found here. Insiders sold 17,894 shares of company stock valued at $2,761,310 in the last quarter. Company insiders own 4.60% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in FLT. Commonwealth Bank of Australia raised its position in FleetCor Technologies by 13.0% during the second quarter. Commonwealth Bank of Australia now owns 740 shares of the business services provider’s stock worth $105,000 after acquiring an additional 85 shares during the last quarter. First Personal Financial Services raised its position in FleetCor Technologies by 49.9% during the second quarter. First Personal Financial Services now owns 790 shares of the business services provider’s stock worth $114,000 after acquiring an additional 263 shares during the last quarter. Fiduciary Trust Co. acquired a new position in FleetCor Technologies during the second quarter worth about $115,000. FNY Partners Fund LP acquired a new position in FleetCor Technologies during the third quarter worth about $125,000. Finally, Toronto Dominion Bank raised its position in FleetCor Technologies by 11.1% during the second quarter. Toronto Dominion Bank now owns 1,128 shares of the business services provider’s stock worth $163,000 after acquiring an additional 113 shares during the last quarter. Institutional investors own 99.44% of the company’s stock.
Shares of FleetCor Technologies (NYSE FLT) opened at $178.64 on Thursday. The firm has a market cap of $16,000.00, a PE ratio of 24.18, a PEG ratio of 1.30 and a beta of 1.50. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.86. FleetCor Technologies has a fifty-two week low of $121.52 and a fifty-two week high of $183.61.
FleetCor Technologies announced that its Board of Directors has approved a stock 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 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.
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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