Fleetcor (FLT) Expected to Announce Earnings of $2.53 Per Share

Equities research analysts expect that Fleetcor (NYSE:FLT) will post earnings of $2.53 per share for the current quarter, according to Zacks. Seven analysts have issued estimates for Fleetcor’s earnings. The highest EPS estimate is $2.55 and the lowest is $2.50. Fleetcor posted earnings of $1.99 per share during the same quarter last year, which would indicate a positive year over year growth rate of 27.1%. The firm is scheduled to report its next earnings results on Thursday, August 2nd.

On average, analysts expect that Fleetcor will report full-year earnings of $10.43 per share for the current fiscal year, with EPS estimates ranging from $10.33 to $10.50. For the next year, analysts expect that the company will report earnings of $11.92 per share, with EPS estimates ranging from $11.70 to $12.14. Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow Fleetcor.

Fleetcor (NYSE:FLT) last announced its quarterly earnings data on Thursday, May 3rd. The business services provider reported $2.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.37 by $0.13. The firm had revenue of $585.50 million during the quarter, compared to analysts’ expectations of $602.46 million. Fleetcor had a return on equity of 21.87% and a net margin of 34.19%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.96 EPS.

Several equities analysts have weighed in on FLT shares. ValuEngine raised Fleetcor from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Zacks Investment Research cut Fleetcor from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Morgan Stanley lifted their price objective on Fleetcor from $194.00 to $232.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Oppenheimer lifted their price objective on Fleetcor from $194.00 to $247.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Finally, SunTrust Banks set a $240.00 price objective on Fleetcor and gave the company a “buy” rating in a report on Monday, February 5th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $222.09.

Several institutional investors have recently bought and sold shares of the company. Xact Kapitalforvaltning AB raised its holdings in shares of Fleetcor by 3.1% during the 1st quarter. Xact Kapitalforvaltning AB now owns 20,002 shares of the business services provider’s stock worth $4,050,000 after buying an additional 607 shares in the last quarter. Verition Fund Management LLC acquired a new position in shares of Fleetcor during the 1st quarter worth $796,000. Amundi Pioneer Asset Management Inc. raised its holdings in shares of Fleetcor by 161.0% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 93,681 shares of the business services provider’s stock worth $18,970,000 after buying an additional 57,790 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of Fleetcor by 33.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 1,575 shares of the business services provider’s stock worth $319,000 after buying an additional 391 shares in the last quarter. Finally, ETF Managers Group LLC raised its holdings in shares of Fleetcor by 12.8% during the 1st quarter. ETF Managers Group LLC now owns 51,900 shares of the business services provider’s stock worth $10,285,000 after buying an additional 5,890 shares in the last quarter. 94.26% of the stock is owned by institutional investors.

NYSE FLT traded down $1.03 during midday trading on Friday, hitting $204.47. The company had a trading volume of 12,113 shares, compared to its average volume of 562,367. The stock has a market capitalization of $18.23 billion, a PE ratio of 25.94, a P/E/G ratio of 1.26 and a beta of 1.46. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.91 and a quick ratio of 0.91. Fleetcor has a twelve month low of $202.18 and a twelve month high of $202.92.

About Fleetcor

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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Earnings History and Estimates for Fleetcor (NYSE:FLT)

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