Zacks: Brokerages Anticipate FleetCor Technologies, Inc. (FLT) Will Announce Quarterly Sales of $603.25 Million

Equities analysts expect that FleetCor Technologies, Inc. (NYSE:FLT) will post sales of $603.25 million for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for FleetCor Technologies’ earnings. The lowest sales estimate is $589.80 million and the highest is $632.68 million. FleetCor Technologies reported sales of $541.24 million in the same quarter last year, which indicates a positive year-over-year growth rate of 11.5%. The business is scheduled to issue its next earnings results on Thursday, August 2nd.

According to Zacks, analysts expect that FleetCor Technologies will report full year sales of $2.45 billion for the current financial year, with estimates ranging from $2.43 billion to $2.55 billion. For the next financial year, analysts anticipate that the business will post sales of $2.69 billion per share, with estimates ranging from $2.63 billion to $2.81 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover FleetCor Technologies.

FleetCor Technologies (NYSE:FLT) last released its earnings results on Thursday, May 3rd. The business services provider reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.13. FleetCor Technologies had a return on equity of 21.87% and a net margin of 34.19%. The firm had revenue of $585.50 million during the quarter, compared to analysts’ expectations of $602.46 million. During the same period in the prior year, the company earned $1.96 earnings per share. The company’s quarterly revenue was up 12.5% on a year-over-year basis.

Several brokerages have recently issued reports on FLT. ValuEngine upgraded shares of FleetCor Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Zacks Investment Research downgraded shares of FleetCor Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Oppenheimer upped their price target on shares of FleetCor Technologies from $194.00 to $247.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Morgan Stanley set a $238.00 price target on shares of FleetCor Technologies and gave the stock a “buy” rating in a report on Friday, May 4th. Finally, SunTrust Banks set a $240.00 price target on shares of FleetCor Technologies and gave the stock a “buy” rating in a report on Monday, February 5th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $222.09.

FleetCor Technologies opened at $199.35 on Friday, according to MarketBeat.com. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.91 and a quick ratio of 0.91. FleetCor Technologies has a fifty-two week low of $138.43 and a fifty-two week high of $213.74. The firm has a market cap of $17.92 billion, a price-to-earnings ratio of 25.30, a price-to-earnings-growth ratio of 1.24 and a beta of 1.46.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in FleetCor Technologies by 1.5% in the first quarter. BlackRock Inc. now owns 6,210,100 shares of the business services provider’s stock valued at $1,257,546,000 after purchasing an additional 91,045 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in FleetCor Technologies by 16.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,689,805 shares of the business services provider’s stock valued at $342,185,000 after purchasing an additional 240,357 shares during the period. TimesSquare Capital Management LLC increased its holdings in FleetCor Technologies by 13.8% in the fourth quarter. TimesSquare Capital Management LLC now owns 834,770 shares of the business services provider’s stock valued at $160,635,000 after purchasing an additional 101,130 shares during the period. Echo Street Capital Management LLC increased its holdings in FleetCor Technologies by 0.6% in the first quarter. Echo Street Capital Management LLC now owns 660,247 shares of the business services provider’s stock valued at $133,700,000 after purchasing an additional 3,638 shares during the period. Finally, American Century Companies Inc. acquired a new stake in FleetCor Technologies in the first quarter valued at $105,328,000. Institutional investors and hedge funds own 92.85% of the company’s stock.

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

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