Brokerages expect FleetCor Technologies, Inc. (NYSE:FLT) to post $616.14 million in sales for the current quarter, according to Zacks. Six analysts have provided estimates for FleetCor Technologies’ earnings. The highest sales estimate is $630.90 million and the lowest is $602.00 million. FleetCor Technologies posted sales of $577.88 million in the same quarter last year, which suggests a positive year over year growth rate of 6.6%. The firm is scheduled to report its next earnings results on Wednesday, November 7th.
According to Zacks, analysts expect that FleetCor Technologies will report full year sales of $2.41 billion for the current year, with estimates ranging from $2.39 billion to $2.41 billion. For the next year, analysts anticipate that the business will report sales of $2.63 billion per share, with estimates ranging from $2.58 billion to $2.71 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover FleetCor Technologies.
FleetCor Technologies (NYSE:FLT) last issued its earnings results on Thursday, August 2nd. The business services provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.05. FleetCor Technologies had a net margin of 35.50% and a return on equity of 23.23%. The business had revenue of $585.00 million for the quarter, compared to analyst estimates of $596.27 million. During the same period in the previous year, the business earned $1.99 EPS. The firm’s revenue was up 8.1% on a year-over-year basis.
FLT has been the subject of several analyst reports. ValuEngine raised shares of FleetCor Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Morgan Stanley set a $238.00 price target on shares of FleetCor Technologies and gave the company a “buy” rating in a report on Friday, May 4th. Zacks Investment Research downgraded shares of FleetCor Technologies from a “buy” rating to a “sell” rating in a report on Tuesday, July 10th. Wolfe Research initiated coverage on shares of FleetCor Technologies in a report on Tuesday, July 17th. They set an “outperform” rating for the company. Finally, Citigroup lifted their price target on shares of FleetCor Technologies from $240.00 to $260.00 and gave the company a “buy” rating in a report on Friday, July 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $227.73.
A number of hedge funds have recently made changes to their positions in the stock. Fort L.P. bought a new position in shares of FleetCor Technologies in the second quarter worth about $122,000. Meeder Asset Management Inc. bought a new position in shares of FleetCor Technologies in the second quarter worth about $150,000. Captrust Financial Advisors raised its stake in shares of FleetCor Technologies by 262.0% in the second quarter. Captrust Financial Advisors now owns 782 shares of the business services provider’s stock worth $165,000 after acquiring an additional 566 shares during the last quarter. NuWave Investment Management LLC bought a new position in shares of FleetCor Technologies in the second quarter worth about $180,000. Finally, Peregrine Capital Management LLC bought a new position in shares of FleetCor Technologies in the second quarter worth about $190,000. 98.16% of the stock is owned by hedge funds and other institutional investors.
Shares of FleetCor Technologies stock traded down $1.59 during trading on Monday, hitting $214.94. 14,343 shares of the company’s stock traded hands, compared to its average volume of 560,899. FleetCor Technologies has a twelve month low of $139.47 and a twelve month high of $225.92. The firm has a market cap of $19.39 billion, a P/E ratio of 27.41, a price-to-earnings-growth ratio of 1.35 and a beta of 1.35. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.88 and a current ratio of 0.88.
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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