FleetCor Technologies, Inc. to Post FY2017 Earnings of $7.77 Per Share, SunTrust Banks Forecasts (FLT)

FleetCor Technologies, Inc. (NYSE:FLT) – Research analysts at SunTrust Banks increased their FY2017 EPS estimates for FleetCor Technologies in a note issued to investors on Monday, Zacks Investment Research reports. SunTrust Banks analyst O. Turner now anticipates that the business services provider will earn $7.77 per share for the year, up from their prior forecast of $7.74. SunTrust Banks has a “Buy” rating and a $240.00 price target on the stock. SunTrust Banks also issued estimates for FleetCor Technologies’ Q2 2018 earnings at $2.30 EPS, Q3 2018 earnings at $2.44 EPS, Q4 2018 earnings at $2.43 EPS and FY2018 earnings at $9.29 EPS.

FleetCor Technologies (NYSE:FLT) last announced its quarterly earnings data on Thursday, February 8th. The business services provider reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.09. FleetCor Technologies had a return on equity of 21.59% and a net margin of 32.90%. The business had revenue of $610.00 million during the quarter, compared to analysts’ expectations of $605.87 million. During the same period in the previous year, the firm earned $1.90 earnings per share. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year.

FLT has been the subject of a number of other reports. Zacks Investment Research raised FleetCor Technologies from a “hold” rating to a “buy” rating and set a $228.00 target price for the company in a research note on Wednesday, January 17th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $236.00 target price on shares of FleetCor Technologies in a research note on Thursday, February 8th. Oppenheimer boosted their price target on FleetCor Technologies from $194.00 to $247.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Barclays boosted their price target on FleetCor Technologies from $180.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, November 2nd. Finally, Morgan Stanley upped their target price on FleetCor Technologies from $189.00 to $194.00 and gave the stock an “overweight” rating in a report on Thursday, November 2nd. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $209.21.

FleetCor Technologies (NYSE:FLT) opened at $194.77 on Tuesday. FleetCor Technologies has a 52 week low of $121.52 and a 52 week high of $213.74. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $17,439.93, a PE ratio of 24.56, a price-to-earnings-growth ratio of 1.23 and a beta of 1.52.

A number of large investors have recently added to or reduced their stakes in the business. Toronto Dominion Bank grew its position in shares of FleetCor Technologies by 11.1% in the second quarter. Toronto Dominion Bank now owns 1,128 shares of the business services provider’s stock valued at $163,000 after purchasing an additional 113 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of FleetCor Technologies by 4.3% in the 2nd quarter. Nordea Investment Management AB now owns 2,859 shares of the business services provider’s stock valued at $412,000 after purchasing an additional 119 shares in the last quarter. First Personal Financial Services boosted its holdings in shares of FleetCor Technologies by 31.4% in the 4th quarter. First Personal Financial Services now owns 1,020 shares of the business services provider’s stock valued at $196,000 after purchasing an additional 244 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of FleetCor Technologies by 2.0% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 15,400 shares of the business services provider’s stock valued at $2,393,000 after purchasing an additional 300 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of FleetCor Technologies by 0.6% in the 4th quarter. Alliancebernstein L.P. now owns 61,216 shares of the business services provider’s stock valued at $11,780,000 after purchasing an additional 381 shares in the last quarter. Hedge funds and other institutional investors own 95.38% of the company’s stock.

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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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