FLEETCOR Technologies (NYSE:FLT) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

FLEETCOR Technologies (NYSE:FLTGet Free Report) posted its earnings results on Wednesday. The business services provider reported $4.44 EPS for the quarter, missing the consensus estimate of $4.48 by ($0.04), Briefing.com reports. FLEETCOR Technologies had a net margin of 26.13% and a return on equity of 37.56%. The firm had revenue of $937.32 million during the quarter, compared to the consensus estimate of $967.01 million. During the same quarter in the prior year, the business posted $3.83 earnings per share. FLEETCOR Technologies’s revenue for the quarter was up 6.1% compared to the same quarter last year.

FLEETCOR Technologies Stock Up 3.1 %

Shares of FLT stock traded up $8.28 on Friday, hitting $273.40. The stock had a trading volume of 917,883 shares, compared to its average volume of 417,091. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.04 and a quick ratio of 1.02. The stock has a market cap of $19.74 billion, a price-to-earnings ratio of 20.70, a price-to-earnings-growth ratio of 1.22 and a beta of 1.26. The business has a 50 day moving average of $278.89 and a 200 day moving average of $261.29. FLEETCOR Technologies has a 12-month low of $185.04 and a 12-month high of $298.48.

Institutional Investors Weigh In On FLEETCOR Technologies

Several large investors have recently made changes to their positions in FLT. Toroso Investments LLC grew its position in shares of FLEETCOR Technologies by 1.6% during the 3rd quarter. Toroso Investments LLC now owns 2,774 shares of the business services provider’s stock valued at $708,000 after acquiring an additional 43 shares during the period. Ossiam increased its position in FLEETCOR Technologies by 7.9% in the first quarter. Ossiam now owns 682 shares of the business services provider’s stock worth $144,000 after buying an additional 50 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of FLEETCOR Technologies by 13.5% in the first quarter. Steward Partners Investment Advisory LLC now owns 421 shares of the business services provider’s stock valued at $89,000 after buying an additional 50 shares during the period. Cetera Investment Advisers lifted its position in shares of FLEETCOR Technologies by 3.1% during the 1st quarter. Cetera Investment Advisers now owns 1,832 shares of the business services provider’s stock valued at $456,000 after buying an additional 55 shares during the last quarter. Finally, NewEdge Advisors LLC grew its stake in shares of FLEETCOR Technologies by 1.8% during the 1st quarter. NewEdge Advisors LLC now owns 3,530 shares of the business services provider’s stock worth $744,000 after acquiring an additional 64 shares during the period. 94.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FLT has been the subject of several analyst reports. Citigroup raised their price target on shares of FLEETCOR Technologies from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, January 12th. Royal Bank of Canada upped their target price on FLEETCOR Technologies from $270.00 to $302.00 and gave the company a “sector perform” rating in a report on Thursday. StockNews.com upgraded shares of FLEETCOR Technologies from a “hold” rating to a “buy” rating in a research report on Friday. Morgan Stanley decreased their price objective on shares of FLEETCOR Technologies from $244.00 to $240.00 and set an “equal weight” rating for the company in a research report on Thursday, November 9th. Finally, UBS Group restated a “neutral” rating and issued a $280.00 target price on shares of FLEETCOR Technologies in a report on Friday, October 20th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $292.19.

Check Out Our Latest Stock Analysis on FLEETCOR Technologies

FLEETCOR Technologies Company Profile

(Get Free Report)

FLEETCOR Technologies, Inc, a business payments company that helps businesses spend less by enabling them to manage their expense-related purchasing and vendor payments processes. It offers corporate payments solutions, such as accounts payable automation; Virtual Card, which provides a single-use card number for a specific amount usable within a defined timeframe; Cross-Border that is used by its customers to pay international vendors, foreign office and personnel expenses, capital expenditures, and profit repatriation and dividends; and purchasing cards and travel and entertainment cards for its customers to analyze and manage their corporate spending.

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Earnings History for FLEETCOR Technologies (NYSE:FLT)

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