Wall Street analysts predict that FLEETCOR Technologies, Inc. (NYSE: FLT) will report sales of $ 632.82 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts provided earnings estimates for FLEETCOR Technologies. The lowest sales estimate is $ 621.00 million and the highest is $ 648.10 million. FLEETCOR Technologies recorded sales of $ 525.15 million in the same quarter last year, suggesting a positive year-over-year growth rate of 20.5%. The company is expected to release its next earnings report on Thursday, August 5.
On average, analysts expect FLEETCOR Technologies to report annual revenue of $ 2.65 billion for the current fiscal year, with estimates ranging from $ 2.61 billion to $ 2.67 billion. of dollars. For next year, analysts predict the company will post sales of $ 2.97 billion, with estimates ranging from $ 2.86 billion to $ 3.13 billion. Zacks Investment Research sales calculations are an average based on a survey of analysts who cover FLEETCOR Technologies.
FLEETCOR Technologies (NYSE: FLT) last released its quarterly results on Wednesday, May 5. The business services provider reported earnings per share (EPS) of $ 2.66 for the quarter, beating Thomson Reuters consensus estimate of $ 2.56 by $ 0.10. The company posted revenue of $ 608.62 million for the quarter, compared to analysts’ expectations of $ 605.61 million. FLEETCOR Technologies posted a return on equity of 28.76% and a net margin of 31.73%.
Several brokerages have recently published reports on the FLT. Barclays raised its price target for FLEETCOR Technologies from $ 310.00 to $ 321.00 and rated the stock “overweight” in a report released on Monday May 10th. Wells Fargo & Company increased its price target on FLEETCOR Technologies from $ 290.00 to $ 320.00 and rated the company as “overweight” in a report released Thursday, May 6. Citigroup Inc. A Russell-based capital protected 3% minimum coupon increased its price target on FLEETCOR Technologies from $ 310.00 to $ 335.00 in a report released on Friday, May 7. Mizuho raised its price target on FLEETCOR Technologies from $ 245.00 to $ 280.00 and gave the company a “neutral” rating in a report released on Monday, May 10. Finally, Citigroup increased its price target on FLEETCOR Technologies from $ 310.00 to $ 335.00 in a report released on Friday, May 7. Four equity research analysts rated the stock with a conservation rating and twelve issued a buy rating for the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $ 308.07.
A number of institutional investors have recently changed their positions in the company. Price T Rowe Associates Inc. MD increased its position in FLEETCOR Technologies shares by 72.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,991,968 shares of the business service provider valued at $ 1,878,252,000 after purchasing an additional 2,947,296 shares in the last quarter. Viking Global Investors LP increased its position in FLEETCOR Technologies shares by 383.1% during the 4th quarter. Viking Global Investors LP now owns 2,269,747 shares of the business services provider valued at $ 619,255,000 after purchasing an additional 1,799,953 shares in the last quarter. Norges Bank bought a new position in FLEETCOR Technologies shares during the 4th quarter valued at $ 191,887,000. Capital International Investors increased its position in FLEETCOR Technologies shares by 5.6% during the first quarter. Capital International Investors now owns 6,540,794 shares of the business services provider valued at $ 1,757,240,000 after purchasing an additional 349,651 shares in the last quarter. Finally, Sustainable Growth Advisers LP increased its position in FLEETCOR Technologies shares by 10.4% during the first quarter. Sustainable Growth Advisers LP now owns 2,806,810 shares of the business services provider valued at $ 753,993,000 after purchasing an additional 265,546 shares in the last quarter. 90.59% of the shares are currently held by institutional investors.
FLT shares opened at $ 259.50 on Tuesday. The stock has a market cap of $ 21.63 billion, a PE ratio of 30.14, a price / earnings-growth ratio of 1.38, and a beta of 1.44. FLEETCOR Technologies has a 1 year low of $ 214.88 and a 1 year high of $ 295.36. The company’s 50-day moving average price is $ 272.33. The company has a rapid ratio of 0.99, a current ratio of 0.99, and a debt ratio of 0.93.
Company profile FLEETCOR Technologies
FLEETCOR Technologies, Inc provides digital payment solutions for businesses to control purchases and make payments. It offers business payment solutions, such as accounts payable automation; Virtual card, which provides a single-use card number for a specific amount usable within a defined time frame; Cross-border used by its clients to pay international suppliers, overseas office and personnel expenses, capital expenses, repatriation of profits and dividends; and acquisition cards and travel and entertainment cards for its customers to analyze and manage their business expenses.
Further reading: Arbitration
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