Brokerages Expect FleetCor Technologies, Inc. (FLT) Will Post Quarterly Sales of $622.03 Million

Analysts expect FleetCor Technologies, Inc. (NYSE:FLT) to report sales of $622.03 million for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for FleetCor Technologies’ earnings, with estimates ranging from $616.10 million to $627.20 million. FleetCor Technologies reported sales of $609.99 million in the same quarter last year, which indicates a positive year over year growth rate of 2%. The firm is scheduled to announce its next quarterly earnings report on Thursday, February 14th.

According to Zacks, analysts expect that FleetCor Technologies will report full year sales of $2.41 billion for the current fiscal year, with estimates ranging from $2.41 billion to $2.42 billion. For the next financial year, analysts anticipate that the business will post sales of $2.60 billion, with estimates ranging from $2.57 billion to $2.66 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for FleetCor Technologies.

FleetCor Technologies (NYSE:FLT) last issued its quarterly earnings data on Tuesday, October 30th. The business services provider reported $2.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.66 by $0.02. FleetCor Technologies had a net margin of 33.01% and a return on equity of 24.22%. The business had revenue of $619.60 million during the quarter, compared to the consensus estimate of $609.75 million. During the same period in the prior year, the firm posted $2.18 EPS. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year.

FLT has been the subject of a number of recent analyst reports. Morgan Stanley upped their price objective on shares of FleetCor Technologies from $238.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, August 3rd. Deutsche Bank reaffirmed a “buy” rating on shares of FleetCor Technologies in a research report on Thursday, September 27th. Zacks Investment Research downgraded shares of FleetCor Technologies from a “buy” rating to a “sell” rating in a research report on Wednesday, October 3rd. Wolfe Research initiated coverage on shares of FleetCor Technologies in a research report on Tuesday, July 17th. They issued an “outperform” rating for the company. Finally, Citigroup upped their price objective on shares of FleetCor Technologies from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, July 20th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. FleetCor Technologies has a consensus rating of “Buy” and a consensus price target of $234.89.

Shares of FLT stock opened at $199.82 on Friday. FleetCor Technologies has a 52-week low of $174.31 and a 52-week high of $230.24. The company has a quick ratio of 0.88, a current ratio of 0.92 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $18.08 billion, a price-to-earnings ratio of 21.51, a PEG ratio of 1.26 and a beta of 1.51.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLT. BlackRock Inc. boosted its stake in FleetCor Technologies by 20.2% in the second quarter. BlackRock Inc. now owns 7,464,198 shares of the business services provider’s stock valued at $1,572,333,000 after acquiring an additional 1,254,098 shares during the last quarter. Jennison Associates LLC boosted its stake in FleetCor Technologies by 14.4% in the second quarter. Jennison Associates LLC now owns 4,598,370 shares of the business services provider’s stock valued at $968,647,000 after acquiring an additional 577,206 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in FleetCor Technologies by 146.2% in the second quarter. Bank of New York Mellon Corp now owns 892,986 shares of the business services provider’s stock valued at $188,107,000 after acquiring an additional 530,211 shares during the last quarter. Morgan Stanley boosted its stake in FleetCor Technologies by 448.6% in the second quarter. Morgan Stanley now owns 545,098 shares of the business services provider’s stock valued at $114,824,000 after acquiring an additional 445,740 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in FleetCor Technologies by 76.7% in the second quarter. Northern Trust Corp now owns 941,094 shares of the business services provider’s stock valued at $198,242,000 after acquiring an additional 408,595 shares during the last quarter. Hedge funds and other institutional investors own 98.08% of the company’s stock.

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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