Brokerages expect that FleetCor Technologies, Inc. (NYSE:FLT) will post sales of $524.89 million for the current quarter, according to Zacks. Eight analysts have made estimates for FleetCor Technologies’ earnings, with estimates ranging from $478.24 million to $567.70 million. FleetCor Technologies posted sales of $647.09 million during the same quarter last year, which suggests a negative year over year growth rate of 18.9%. The business is expected to issue its next quarterly earnings results on Tuesday, August 4th.
On average, analysts expect that FleetCor Technologies will report full-year sales of $2.43 billion for the current year, with estimates ranging from $2.30 billion to $2.57 billion. For the next financial year, analysts forecast that the business will post sales of $2.75 billion, with estimates ranging from $2.56 billion to $2.93 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow FleetCor Technologies.
FleetCor Technologies (NYSE:FLT) last announced its earnings results on Thursday, May 7th. The business services provider reported $3.00 EPS for the quarter, topping the consensus estimate of $2.83 by $0.17. The company had revenue of $661.09 million during the quarter, compared to analysts’ expectations of $636.20 million. FleetCor Technologies had a net margin of 32.37% and a return on equity of 29.18%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the company posted $2.67 earnings per share.
FLT has been the topic of several research analyst reports. Credit Suisse Group lowered their price objective on shares of FleetCor Technologies from $255.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, May 8th. Oppenheimer assumed coverage on shares of FleetCor Technologies in a research note on Thursday, May 7th. They set a “buy” rating and a $335.00 price target on the stock. Cfra reiterated a “hold” rating and set a $275.00 price target (down previously from $325.00) on shares of FleetCor Technologies in a research note on Monday, May 11th. Zacks Investment Research upgraded shares of FleetCor Technologies from a “sell” rating to a “hold” rating and set a $264.00 price target on the stock in a research note on Friday, May 8th. Finally, Barclays lifted their price target on shares of FleetCor Technologies from $281.00 to $291.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $280.18.
In other FleetCor Technologies news, insider Alexey Gavrilenya sold 5,000 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $279.91, for a total value of $1,399,550.00. Following the transaction, the insider now directly owns 7,661 shares of the company’s stock, valued at approximately $2,144,390.51. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 6.60% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in FLT. Capital Research Global Investors grew its holdings in shares of FleetCor Technologies by 29.3% during the 1st quarter. Capital Research Global Investors now owns 7,118,649 shares of the business services provider’s stock worth $1,327,915,000 after purchasing an additional 1,613,909 shares in the last quarter. Norges Bank bought a new position in FleetCor Technologies in the fourth quarter valued at about $230,806,000. Wellington Management Group LLP raised its position in FleetCor Technologies by 20.0% in the first quarter. Wellington Management Group LLP now owns 4,567,056 shares of the business services provider’s stock valued at $851,939,000 after purchasing an additional 759,746 shares during the last quarter. Sustainable Growth Advisers LP raised its position in shares of FleetCor Technologies by 70.9% during the first quarter. Sustainable Growth Advisers LP now owns 1,743,968 shares of the business services provider’s stock worth $325,319,000 after acquiring an additional 723,560 shares during the last quarter. Finally, Maverick Capital Ltd. raised its position in shares of FleetCor Technologies by 119.2% during the first quarter. Maverick Capital Ltd. now owns 1,240,145 shares of the business services provider’s stock worth $231,337,000 after acquiring an additional 674,416 shares during the last quarter. 91.39% of the stock is currently owned by institutional investors.
FLT stock traded up $3.97 during midday trading on Friday, hitting $250.12. 11,512 shares of the company traded hands, compared to its average volume of 985,489. FleetCor Technologies has a twelve month low of $168.51 and a twelve month high of $329.85. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.16. The business has a 50 day simple moving average of $249.20 and a 200-day simple moving average of $261.60. The stock has a market capitalization of $21.03 billion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 1.93 and a beta of 1.48.
About FleetCor Technologies
FleetCor Technologies, Inc provides commercial payment solutions in North America, Latin America, Europe, and Australasia. The company offers fuel payment solutions to businesses and government entities that operate vehicle fleets, as well as to oil and leasing companies, and fuel marketers. Its fuel payment products are in the form of plastic cards, electronic RFID tags, and paper vouchers to purchase fuel, oil, vehicle maintenance supplies and services, and building supplies.
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