Somewhat Favorable Press Coverage Somewhat Unlikely to Impact FleetCor Technologies (FLT) Stock Price
Media coverage about FleetCor Technologies (NYSE:FLT) has been trending somewhat positive recently, Accern reports. Accern rates the sentiment of news coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. FleetCor Technologies earned a daily sentiment score of 0.20 on Accern’s scale. Accern also gave news coverage about the business services provider an impact score of 46.1594117826773 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Here are some of the news articles that may have impacted Accern’s analysis:
- Worth Watching Stock’s Buzzers: FleetCor Technologies, Inc., (NYSE: FLT), Ophthotech Corporation, (NASDAQ: OPHT) – Stocks In The News (press release) (tradingnewsnow.com)
- Zacks: Analysts Anticipate FleetCor Technologies, Inc. (FLT) to Announce $2.15 Earnings Per Share (americanbankingnews.com)
- Jefferies sees gas card outsourcing benefit for FLT and WEX – Seeking Alpha (seekingalpha.com)
- FleetCor Technologies, Inc. (FLT) Given Average Recommendation of “Buy” by Brokerages (americanbankingnews.com)
- FleetCor Technologies, Inc. to Post FY2018 Earnings of $8.94 Per Share, Jefferies Group Forecasts (FLT) (americanbankingnews.com)
Several research firms recently commented on FLT. Zacks Investment Research upgraded shares of FleetCor Technologies from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a research report on Monday, October 9th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $185.00 target price on shares of FleetCor Technologies in a research report on Tuesday, September 26th. Jefferies Group LLC reiterated a “buy” rating and set a $197.00 target price on shares of FleetCor Technologies in a research report on Saturday, September 16th. Credit Suisse Group reiterated an “outperform” rating on shares of FleetCor Technologies in a research report on Tuesday, September 5th. Finally, BidaskClub upgraded shares of FleetCor Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $181.33.
FleetCor Technologies (FLT) opened at 160.62 on Monday. FleetCor Technologies has a 12 month low of $121.52 and a 12 month high of $176.42. The stock has a 50 day moving average of $151.06 and a 200-day moving average of $145.92. The firm has a market cap of $14.76 billion, a P/E ratio of 31.76 and a beta of 1.44.
FleetCor Technologies (NYSE:FLT) last released its quarterly earnings data on Thursday, August 3rd. The business services provider reported $1.83 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.83. The firm had revenue of $541.24 million during the quarter, compared to analyst estimates of $528.33 million. FleetCor Technologies had a return on equity of 20.87% and a net margin of 23.28%. The business’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.56 earnings per share. Equities research analysts predict that FleetCor Technologies will post $8.38 earnings per share for the current fiscal year.
FleetCor Technologies announced that its Board of Directors has approved a share repurchase program on Thursday, August 3rd that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the business services provider to buy up to 1.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
In related news, CEO Andrew Blazye sold 8,353 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $144.00, for a total value of $1,202,832.00. Following the completion of the sale, the chief executive officer now owns 24,766 shares of the company’s stock, valued at $3,566,304. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 15,758 shares of company stock valued at $2,274,115 in the last ninety days. 4.30% of the stock is currently owned by insiders.
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About FleetCor Technologies
FleetCor Technologies, Inc is a provider of workforce payment products. The Company offers fuel card payments product solutions, corporate payments products, toll products, lodging cards and gift cards. The Company operates through two segments: North America and International. Its products are sold to businesses, retailers, oil companies and marketers and government entities.
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