FleetCor Technologies, Inc. (FLT) Expected to Announce Earnings of $2.72 Per Share

Equities analysts expect that FleetCor Technologies, Inc. (NYSE:FLT) will post earnings of $2.72 per share for the current quarter, Zacks reports. Six analysts have made estimates for FleetCor Technologies’ earnings, with estimates ranging from $2.70 to $2.74. FleetCor Technologies posted earnings per share of $2.42 in the same quarter last year, which indicates a positive year-over-year growth rate of 12.4%. The firm is expected to announce its next earnings report on Thursday, February 14th.

According to Zacks, analysts expect that FleetCor Technologies will report full year earnings of $10.46 per share for the current fiscal year, with EPS estimates ranging from $10.45 to $10.48. For the next fiscal year, analysts forecast that the firm will post earnings of $11.54 per share, with EPS estimates ranging from $9.01 to $12.28. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow FleetCor Technologies.

FleetCor Technologies (NYSE:FLT) last issued its earnings results on Tuesday, October 30th. The business services provider reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.02. The firm had revenue of $619.60 million during the quarter, compared to analyst estimates of $609.75 million. FleetCor Technologies had a net margin of 33.01% and a return on equity of 24.22%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the business earned $2.18 earnings per share.

A number of equities analysts have recently commented on FLT shares. Zacks Investment Research upgraded shares of FleetCor Technologies from a “hold” rating to a “buy” rating and set a $249.00 price objective for the company in a research report on Tuesday, September 25th. Deutsche Bank restated a “buy” rating on shares of FleetCor Technologies in a research report on Thursday, September 27th. ValuEngine lowered shares of FleetCor Technologies from a “buy” rating to a “hold” rating in a research report on Friday, November 2nd. Finally, Barclays started coverage on shares of FleetCor Technologies in a research report on Wednesday, November 14th. They issued an “overweight” rating and a $245.00 price objective for the company. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $237.11.

Shares of FLT stock traded down $2.03 during trading hours on Friday, reaching $186.93. The stock had a trading volume of 662,620 shares, compared to its average volume of 679,076. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.78. FleetCor Technologies has a 12 month low of $180.15 and a 12 month high of $230.24. The firm has a market capitalization of $22.96 billion, a P/E ratio of 23.72, a price-to-earnings-growth ratio of 1.15 and a beta of 1.49.

Several hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in FleetCor Technologies by 14.5% in the first quarter. Principal Financial Group Inc. now owns 14,700 shares of the business services provider’s stock valued at $2,976,000 after purchasing an additional 1,864 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in FleetCor Technologies in the second quarter valued at approximately $501,000. Meeder Asset Management Inc. purchased a new stake in FleetCor Technologies in the second quarter valued at approximately $150,000. Piedmont Investment Advisors LLC purchased a new stake in FleetCor Technologies in the second quarter valued at approximately $214,000. Finally, Aperio Group LLC raised its stake in FleetCor Technologies by 15.6% in the second quarter. Aperio Group LLC now owns 20,143 shares of the business services provider’s stock valued at $4,243,000 after purchasing an additional 2,724 shares in the last quarter. Institutional investors own 68.73% of the company’s stock.

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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