FleetCor Technologies (NYSE:FLT) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

FleetCor Technologies (NYSE:FLT) issued its quarterly earnings data on Tuesday. The business services provider reported $2.69 EPS for the quarter, topping the consensus estimate of $2.64 by $0.05, Morningstar.com reports. The firm had revenue of $647.09 million during the quarter, compared to the consensus estimate of $633.95 million. FleetCor Technologies had a return on equity of 26.56% and a net margin of 32.74%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.57 earnings per share.

Shares of NYSE FLT opened at $269.24 on Wednesday. The firm’s fifty day moving average price is $285.07. FleetCor Technologies has a 1-year low of $172.18 and a 1-year high of $296.79. The company has a market capitalization of $23.97 billion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 1.61 and a beta of 1.16. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.77.

A number of analysts recently commented on the company. Oppenheimer increased their price target on FleetCor Technologies from $265.00 to $270.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. Bank of America assumed coverage on FleetCor Technologies in a research report on Monday, June 3rd. They set a “neutral” rating and a $275.00 price target for the company. Robert W. Baird assumed coverage on FleetCor Technologies in a research report on Wednesday, July 24th. They set a “neutral” rating and a $302.00 price target for the company. Goldman Sachs Group raised FleetCor Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $243.00 to $305.00 in a research report on Wednesday, June 5th. Finally, SunTrust Banks increased their price target on FleetCor Technologies to $320.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $262.93.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quantamental Technologies LLC bought a new position in shares of FleetCor Technologies in the first quarter worth $25,000. Bray Capital Advisors bought a new stake in FleetCor Technologies during the second quarter valued at $25,000. Meeder Asset Management Inc. bought a new stake in FleetCor Technologies during the second quarter valued at $30,000. Advisory Services Network LLC boosted its stake in FleetCor Technologies by 94.2% during the second quarter. Advisory Services Network LLC now owns 134 shares of the business services provider’s stock valued at $38,000 after buying an additional 65 shares during the period. Finally, Steward Partners Investment Advisory LLC bought a new stake in FleetCor Technologies during the second quarter valued at $56,000. 94.18% of the stock is owned by institutional investors and hedge funds.

FleetCor Technologies Company Profile

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 for FleetCor Technologies (NYSE:FLT)

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