FleetCor Technologies (NYSE:FLT) Updates Q3 2019 Earnings Guidance

FleetCor Technologies (NYSE:FLT) updated its third quarter 2019 earnings guidance on Tuesday. The company provided earnings per share guidance of $3.00-3.10 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.05. FleetCor Technologies also updated its FY 2019 guidance to $11.53-11.83 EPS.

A number of brokerages recently issued reports on FLT. BTIG Research reiterated a buy rating and issued a $340.00 target price on shares of FleetCor Technologies in a research report on Monday, July 8th. Zacks Investment Research lowered shares of FleetCor Technologies from a buy rating to a hold rating in a research report on Tuesday, April 9th. Morgan Stanley lowered shares of FleetCor Technologies from an overweight rating to an equal weight rating and increased their target price for the company from $240.00 to $284.00 in a research report on Thursday, July 11th. Mizuho increased their target price on shares of FleetCor Technologies from $245.00 to $247.00 and gave the company a neutral rating in a research report on Wednesday, May 8th. Finally, Bank of America began coverage on shares of FleetCor Technologies in a research report on Monday, June 3rd. They issued a neutral rating and a $275.00 target price for the company. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $262.93.

NYSE FLT traded up $2.50 on Tuesday, reaching $269.24. The company’s stock had a trading volume of 484,391 shares, compared to its average volume of 590,369. FleetCor Technologies has a twelve month low of $172.18 and a twelve month high of $296.79. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $23.28 billion, a PE ratio of 27.11, a PEG ratio of 1.61 and a beta of 1.16. The business has a 50 day moving average price of $285.06.

FleetCor Technologies (NYSE:FLT) last issued its quarterly earnings results on Tuesday, May 7th. The business services provider reported $2.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.46 by $0.10. FleetCor Technologies had a net margin of 32.74% and a return on equity of 26.56%. The company had revenue of $621.80 million during the quarter, compared to the consensus estimate of $608.40 million. During the same period in the prior year, the company earned $2.50 EPS. FleetCor Technologies’s revenue was up 6.2% on a year-over-year basis. As a group, sell-side analysts anticipate that FleetCor Technologies will post 11.13 EPS for the current fiscal year.

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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Earnings History and Estimates for FleetCor Technologies (NYSE:FLT)

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