Analysts forecast that FleetCor Technologies, Inc. (NYSE:FLT) will announce sales of $598.57 million for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for FleetCor Technologies’ earnings, with the highest sales estimate coming in at $608.50 million and the lowest estimate coming in at $575.60 million. FleetCor Technologies posted sales of $514.95 million during the same quarter last year, which would indicate a positive year over year growth rate of 16.2%. The business is expected to announce its next quarterly earnings results on Wednesday, February 14th.

On average, analysts expect that FleetCor Technologies will report full-year sales of $598.57 million for the current financial year, with estimates ranging from $2.13 billion to $2.25 billion. For the next year, analysts anticipate that the firm will report sales of $2.50 billion per share, with estimates ranging from $2.37 billion to $2.57 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover FleetCor Technologies.

FleetCor Technologies (NYSE:FLT) last announced its earnings results on Wednesday, November 1st. The business services provider reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.04. FleetCor Technologies had a net margin of 25.66% and a return on equity of 20.99%. The business had revenue of $577.90 million during the quarter, compared to analyst estimates of $576.78 million. During the same period in the previous year, the business posted $1.92 earnings per share. FleetCor Technologies’s revenue for the quarter was up 19.3% on a year-over-year basis.

Several equities research analysts have issued reports on FLT shares. Morgan Stanley lifted their target price on shares of FleetCor Technologies from $184.00 to $189.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. Zacks Investment Research lowered shares of FleetCor Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. SunTrust Banks set a $180.00 target price on shares of FleetCor Technologies and gave the company a “buy” rating in a research report on Tuesday, October 24th. Credit Suisse Group reiterated an “outperform” rating on shares of FleetCor Technologies in a research report on Tuesday, September 5th. Finally, Jefferies Group reiterated a “buy” rating and set a $197.00 target price on shares of FleetCor Technologies in a research report on Saturday, September 16th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $187.31.

In related news, insider Kurt Patrick Adams sold 7,099 shares of FleetCor Technologies stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $170.00, for a total value of $1,206,830.00. Following the transaction, the insider now directly owns 9,246 shares of the company’s stock, valued at $1,571,820. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.60% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the business. IFM Investors Pty Ltd purchased a new position in FleetCor Technologies during the 3rd quarter valued at $409,000. California Public Employees Retirement System increased its position in FleetCor Technologies by 4.5% during the 3rd quarter. California Public Employees Retirement System now owns 170,177 shares of the business services provider’s stock valued at $26,338,000 after purchasing an additional 7,377 shares during the period. Davidson Kempner Capital Management LP purchased a new position in FleetCor Technologies during the 3rd quarter valued at $11,608,000. Highbridge Capital Management LLC purchased a new position in FleetCor Technologies during the 3rd quarter valued at $558,000. Finally, Kensico Capital Management Corp boosted its holdings in shares of FleetCor Technologies by 52.5% during the 3rd quarter. Kensico Capital Management Corp now owns 450,000 shares of the business services provider’s stock valued at $69,647,000 after buying an additional 155,000 shares in the last quarter. 95.76% of the stock is currently owned by institutional investors and hedge funds.

Shares of FleetCor Technologies (FLT) traded up $0.16 during trading on Wednesday, reaching $189.29. 648,800 shares of the company’s stock traded hands, compared to its average volume of 1,136,307. FleetCor Technologies has a twelve month low of $121.52 and a twelve month high of $191.00. The company has a market capitalization of $16,938.63, a price-to-earnings ratio of 25.59, a PEG ratio of 1.38 and a beta of 1.53. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.86.

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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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Earnings History and Estimates for FleetCor Technologies (NYSE:FLT)

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