FleetCor Technologies Inc. (FLT) Expected to Post Q1 2017 Earnings of $1.78 Per Share
FleetCor Technologies Inc. (NYSE:FLT) – Jefferies Group issued their Q1 2017 EPS estimates for shares of FleetCor Technologies in a research report issued on Monday. Jefferies Group analyst R. El-Assal forecasts that the firm will post earnings of $1.78 per share for the quarter. Jefferies Group currently has a “Buy” rating and a $197.00 target price on the stock. Jefferies Group also issued estimates for FleetCor Technologies’ Q2 2017 earnings at $1.87 EPS and Q3 2017 earnings at $2.15 EPS.
FleetCor Technologies (NYSE:FLT) last posted its quarterly earnings data on Tuesday, November 1st. The company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.06. The company had revenue of $484.40 million for the quarter, compared to analyst estimates of $491.45 million. FleetCor Technologies had a return on equity of 18.53% and a net margin of 23.27%. The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.67 earnings per share.
A number of other equities analysts have also weighed in on FLT. Morgan Stanley set a $170.00 target price on FleetCor Technologies and gave the stock a “buy” rating in a research note on Friday, August 5th. Barclays PLC increased their target price on FleetCor Technologies from $160.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, August 5th. Credit Suisse Group AG reiterated a “hold” rating and set a $150.00 target price on shares of FleetCor Technologies in a research note on Friday, August 5th. JPMorgan Chase & Co. increased their target price on FleetCor Technologies from $159.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, August 5th. Finally, Oppenheimer Holdings Inc. upgraded FleetCor Technologies from a “market perform” rating to an “outperform” rating and set a $180.00 target price on the stock in a research note on Friday, August 5th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. FleetCor Technologies currently has an average rating of “Buy” and a consensus target price of $175.21.
FleetCor Technologies (NYSE:FLT) opened at 153.25 on Thursday. FleetCor Technologies has a 1-year low of $107.56 and a 1-year high of $176.42. The firm has a market cap of $14.22 billion, a price-to-earnings ratio of 35.51 and a beta of 1.40. The firm has a 50-day moving average price of $162.26 and a 200-day moving average price of $157.36.
In related news, CEO Ronald Clarke sold 243,617 shares of the firm’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $167.37, for a total transaction of $40,774,177.29. Following the sale, the chief executive officer now owns 349,283 shares of the company’s stock, valued at approximately $58,459,495.71. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph W. Farrelly sold 1,200 shares of the firm’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $168.73, for a total value of $202,476.00. Following the sale, the director now directly owns 3,224 shares in the company, valued at approximately $543,985.52. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.
Several large investors have recently added to or reduced their stakes in FLT. Winslow Capital Management LLC increased its stake in FleetCor Technologies by 39.0% in the second quarter. Winslow Capital Management LLC now owns 2,582,730 shares of the company’s stock valued at $369,666,000 after buying an additional 724,391 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in shares of FleetCor Technologies by 31.5% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,741,551 shares of the company’s stock valued at $476,290,000 after buying an additional 657,442 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in shares of FleetCor Technologies during the second quarter valued at approximately $81,598,000. TimesSquare Capital Management LLC bought a new position in shares of FleetCor Technologies during the second quarter valued at approximately $75,659,000. Finally, Marshall Wace LLP increased its position in shares of FleetCor Technologies by 2,325.2% in the second quarter. Marshall Wace LLP now owns 492,202 shares of the company’s stock valued at $70,449,000 after buying an additional 471,907 shares during the last quarter. 93.86% of the stock is currently owned by institutional investors.
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FleetCor Technologies Company Profile
FleetCor Technologies, Inc is an independent global provider of fuel cards, commercial payment and data solutions, stored value solutions, and workforce payment products and services to businesses, retailers, commercial fleets, oil companies, petroleum marketers and government entities in countries throughout North America, Latin America, Europe, Australia and New Zealand.
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