FleetCor Technologies (NYSE:FLT) Updates Q3 2019 Earnings Guidance

FleetCor Technologies (NYSE:FLT) updated its third quarter 2019 earnings guidance on Tuesday. The company provided earnings per share guidance of $3.00-3.10 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.05. FleetCor Technologies also updated its FY 2019 guidance to $11.53-11.83 EPS.

FLT traded down $0.45 during midday trading on Friday, reaching $295.92. The company had a trading volume of 229,388 shares, compared to its average volume of 494,908. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $23.21 billion, a PE ratio of 29.80, a PEG ratio of 1.56 and a beta of 1.16. FleetCor Technologies has a 12-month low of $172.18 and a 12-month high of $296.92. The business’s 50-day moving average price is $285.79.

FleetCor Technologies (NYSE:FLT) last released its earnings results on Tuesday, August 6th. The business services provider reported $2.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.64 by $0.05. The firm had revenue of $647.09 million for the quarter, compared to analysts’ expectations of $633.95 million. FleetCor Technologies had a net margin of 35.29% and a return on equity of 27.06%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.57 earnings per share. Analysts anticipate that FleetCor Technologies will post 11.13 EPS for the current year.

A number of research analysts have weighed in on FLT shares. Jefferies Financial Group set a $250.00 target price on shares of FleetCor Technologies and gave the company a hold rating in a research note on Tuesday, April 23rd. BTIG Research reiterated a buy rating and issued a $340.00 target price on shares of FleetCor Technologies in a research note on Monday, July 8th. GMP Securities reiterated an average rating and issued a $4.00 target price on shares of FleetCor Technologies in a research note on Wednesday, June 5th. Morgan Stanley cut shares of FleetCor Technologies from an overweight rating to an equal weight rating and boosted their target price for the company from $240.00 to $284.00 in a research note on Thursday, July 11th. Finally, Oppenheimer boosted their target price on shares of FleetCor Technologies from $265.00 to $270.00 and gave the company an outperform rating in a research note on Wednesday, May 8th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. FleetCor Technologies has an average rating of Buy and an average target price of $262.93.

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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