Zacks: Brokerages Expect FleetCor Technologies, Inc. (NYSE:FLT) to Post $2.79 Earnings Per Share

Wall Street analysts expect FleetCor Technologies, Inc. (NYSE:FLT) to report earnings per share (EPS) of $2.79 for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for FleetCor Technologies’ earnings, with estimates ranging from $2.76 to $2.80. FleetCor Technologies posted earnings per share of $2.68 in the same quarter last year, which would indicate a positive year over year growth rate of 4.1%. The company is scheduled to report its next earnings results on Tuesday, October 29th.

On average, analysts expect that FleetCor Technologies will report full-year earnings of $11.72 per share for the current year, with EPS estimates ranging from $11.66 to $11.82. For the next financial year, analysts forecast that the firm will report earnings of $13.49 per share, with EPS estimates ranging from $13.24 to $13.74. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for FleetCor Technologies.

FleetCor Technologies (NYSE:FLT) last posted its quarterly earnings results on Tuesday, August 6th. The business services provider reported $2.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.64 by $0.05. The firm had revenue of $647.09 million for the quarter, compared to analyst estimates of $633.95 million. FleetCor Technologies had a return on equity of 26.37% and a net margin of 35.29%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.57 EPS.

Several brokerages have recently commented on FLT. Bank of America began coverage on FleetCor Technologies in a research note on Monday, June 3rd. They set a “neutral” rating and a $275.00 target price for the company. Morgan Stanley downgraded FleetCor Technologies from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $240.00 to $284.00 in a research note on Thursday, July 11th. Goldman Sachs Group upgraded FleetCor Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $243.00 to $305.00 in a research note on Wednesday, June 5th. GMP Securities reiterated an “average” rating and set a $4.00 target price on shares of FleetCor Technologies in a research note on Wednesday, June 5th. Finally, Deutsche Bank lifted their target price on FleetCor Technologies from $265.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $275.87.

Several institutional investors have recently bought and sold shares of FLT. Highstreet Asset Management Inc. bought a new stake in shares of FleetCor Technologies in the 2nd quarter valued at about $786,000. BB&T Securities LLC grew its position in shares of FleetCor Technologies by 34.7% in the 2nd quarter. BB&T Securities LLC now owns 5,113 shares of the business services provider’s stock valued at $1,435,000 after buying an additional 1,316 shares during the last quarter. Impala Asset Management LLC bought a new stake in shares of FleetCor Technologies in the 2nd quarter valued at about $2,120,000. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of FleetCor Technologies by 38.8% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,073 shares of the business services provider’s stock valued at $301,000 after buying an additional 300 shares during the last quarter. Finally, Strs Ohio grew its position in shares of FleetCor Technologies by 118.9% in the 2nd quarter. Strs Ohio now owns 2,515 shares of the business services provider’s stock valued at $706,000 after buying an additional 1,366 shares during the last quarter. 93.54% of the stock is owned by institutional investors.

Shares of NYSE:FLT traded down $0.29 during trading on Wednesday, hitting $287.71. 151,183 shares of the company were exchanged, compared to its average volume of 534,864. The stock has a market cap of $25.34 billion, a price-to-earnings ratio of 28.97, a P/E/G ratio of 1.68 and a beta of 1.13. FleetCor Technologies has a fifty-two week low of $172.18 and a fifty-two week high of $304.65. The firm has a fifty day moving average price of $293.92 and a two-hundred day moving average price of $272.30. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.70.

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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