Equities research analysts expect that FleetCor Technologies, Inc. (NYSE:FLT) will post earnings per share of $1.83 for the current quarter, Zacks reports. Eight analysts have issued estimates for FleetCor Technologies’ earnings. The highest EPS estimate is $1.85 and the lowest is $1.81. FleetCor Technologies posted earnings of $1.42 per share in the same quarter last year, which suggests a positive year over year growth rate of 28.9%. The firm is expected to announce its next quarterly earnings results on Thursday, August 3rd.
According to Zacks, analysts expect that FleetCor Technologies will report full year earnings of $7.72 per share for the current financial year, with EPS estimates ranging from $7.70 to $7.76. For the next financial year, analysts forecast that the firm will post earnings of $8.77 per share, with EPS estimates ranging from $8.65 to $8.88. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for FleetCor Technologies.
FleetCor Technologies (NYSE:FLT) last posted its quarterly earnings results on Monday, May 1st. The business services provider reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.09. The firm had revenue of $520.43 million for the quarter, compared to analyst estimates of $514.56 million. FleetCor Technologies had a net margin of 23.89% and a return on equity of 20.20%. FleetCor Technologies’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.53 earnings per share.
FLT has been the subject of a number of recent research reports. SunTrust Banks, Inc. reiterated a “buy” rating on shares of FleetCor Technologies in a report on Wednesday, May 3rd. Compass Point upgraded shares of FleetCor Technologies from a “neutral” rating to a “buy” rating and set a $170.00 price target for the company in a report on Wednesday, May 3rd. Jefferies Group LLC reiterated a “buy” rating and set a $197.00 price target on shares of FleetCor Technologies in a report on Tuesday, May 2nd. Deutsche Bank AG reiterated a “buy” rating and set a $185.00 price target on shares of FleetCor Technologies in a report on Monday, April 24th. Finally, Wells Fargo & Company set a $175.00 price target on shares of FleetCor Technologies and gave the stock a “buy” rating in a report on Wednesday, April 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $177.07.
In related news, Director Jeffrey Steven Sloan bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The shares were acquired at an average cost of $134.43 per share, with a total value of $268,860.00. Following the completion of the transaction, the director now owns 9,991 shares of the company’s stock, valued at $1,343,090.13. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alexey Gavrilenya purchased 5,000 shares of FleetCor Technologies stock in a transaction on Thursday, May 11th. The shares were acquired at an average cost of $138.50 per share, for a total transaction of $692,500.00. Following the completion of the transaction, the insider now owns 5,000 shares of the company’s stock, valued at $692,500. The disclosure for this purchase can be found here. Insiders purchased 8,850 shares of company stock worth $1,208,985 over the last three months. Corporate insiders own 4.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue acquired a new position in shares of FleetCor Technologies during the first quarter worth $104,000. Ropes Wealth Advisors LLC boosted its position in shares of FleetCor Technologies by 112.9% in the first quarter. Ropes Wealth Advisors LLC now owns 745 shares of the business services provider’s stock worth $113,000 after buying an additional 395 shares during the period. Toronto Dominion Bank boosted its position in shares of FleetCor Technologies by 26.6% in the first quarter. Toronto Dominion Bank now owns 1,015 shares of the business services provider’s stock worth $154,000 after buying an additional 213 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of FleetCor Technologies by 1.1% in the first quarter. Tower Research Capital LLC TRC now owns 1,059 shares of the business services provider’s stock worth $160,000 after buying an additional 12 shares during the period. Finally, Commerce Bank acquired a new position in shares of FleetCor Technologies during the first quarter worth $215,000. 95.33% of the stock is currently owned by hedge funds and other institutional investors.
FleetCor Technologies (NYSE FLT) traded down 0.07% during trading on Wednesday, reaching $144.41. 1,057,492 shares of the company’s stock traded hands. The firm has a 50 day moving average of $140.99 and a 200 day moving average of $149.74. FleetCor Technologies has a 1-year low of $121.52 and a 1-year high of $176.42. The firm has a market capitalization of $13.32 billion, a PE ratio of 29.54 and a beta of 1.35.
About FleetCor Technologies
FleetCor Technologies, Inc is a provider of workforce payment products. The Company offers fuel card payments product solutions, corporate payments products, toll products, lodging cards and gift cards. The Company operates through two segments: North America and International. Its products are sold to businesses, retailers, oil companies and marketers and government entities.
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