Brokerages forecast that FleetCor Technologies, Inc. (NYSE:FLT) will report $602.85 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for FleetCor Technologies’ earnings, with the highest sales estimate coming in at $609.50 million and the lowest estimate coming in at $587.28 million. FleetCor Technologies reported sales of $585.50 million in the same quarter last year, which would suggest a positive year over year growth rate of 3%. The company is scheduled to report its next earnings results on Thursday, May 2nd.
According to Zacks, analysts expect that FleetCor Technologies will report full-year sales of $2.59 billion for the current year, with estimates ranging from $2.58 billion to $2.61 billion. For the next year, analysts expect that the company will post sales of $2.85 billion, with estimates ranging from $2.76 billion to $2.95 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow FleetCor Technologies.
Get FleetCor Technologies alerts:FleetCor Technologies (NYSE:FLT) last issued its quarterly earnings data on Wednesday, February 6th. The business services provider reported $2.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.08). The business had revenue of $643.40 million for the quarter, compared to analyst estimates of $620.45 million. FleetCor Technologies had a net margin of 33.35% and a return on equity of 25.73%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.42 earnings per share.
A number of research analysts have recently issued reports on FLT shares. Zacks Investment Research cut shares of FleetCor Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, October 30th. ValuEngine cut shares of FleetCor Technologies from a “buy” rating to a “hold” rating in a report on Friday, November 2nd. Barclays assumed coverage on shares of FleetCor Technologies in a report on Wednesday, November 14th. They set an “overweight” rating and a $245.00 price objective for the company. Goldman Sachs Group cut shares of FleetCor Technologies from a “buy” rating to a “neutral” rating and cut their price target for the stock from $245.00 to $215.00 in a report on Tuesday, December 11th. Finally, Deutsche Bank cut their price target on shares of FleetCor Technologies to $212.00 and set a “buy” rating on the stock in a report on Tuesday, December 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $231.00.
A number of institutional investors have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co. NY boosted its holdings in FleetCor Technologies by 0.3% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 17,315 shares of the business services provider’s stock worth $3,216,000 after purchasing an additional 54 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in FleetCor Technologies by 1.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 2,977 shares of the business services provider’s stock worth $552,000 after purchasing an additional 56 shares during the last quarter. Captrust Financial Advisors boosted its holdings in FleetCor Technologies by 8.5% during the fourth quarter. Captrust Financial Advisors now owns 830 shares of the business services provider’s stock worth $154,000 after purchasing an additional 65 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in FleetCor Technologies by 1.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 3,909 shares of the business services provider’s stock worth $726,000 after purchasing an additional 68 shares during the last quarter. Finally, BB&T Securities LLC boosted its holdings in FleetCor Technologies by 1.8% during the fourth quarter. BB&T Securities LLC now owns 4,063 shares of the business services provider’s stock worth $754,000 after purchasing an additional 71 shares during the last quarter. Institutional investors and hedge funds own 70.10% of the company’s stock.
Shares of NYSE FLT traded up $3.55 during mid-day trading on Monday, reaching $224.05. 618,552 shares of the company’s stock traded hands, compared to its average volume of 622,811. The stock has a market capitalization of $27.52 billion, a P/E ratio of 22.56, a P/E/G ratio of 1.25 and a beta of 1.29. FleetCor Technologies has a 1-year low of $172.18 and a 1-year high of $230.24. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.86 and a quick ratio of 0.92.
FleetCor Technologies Company Profile
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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