FleetCor Technologies, Inc. (NYSE:FLT) is scheduled to be issuing its quarterly earnings data after the market closes on Monday, October 30th. Analysts expect the company to announce earnings of $2.14 per share for the quarter. FleetCor Technologies has set its FY17 guidance at $8.24-8.44 EPS.
FleetCor Technologies (NYSE:FLT) last issued its quarterly earnings results on Thursday, August 3rd. The business services provider reported $1.83 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.83. The company had revenue of $541.24 million during the quarter, compared to analyst estimates of $528.33 million. FleetCor Technologies had a net margin of 23.28% and a return on equity of 20.87%. The business’s revenue for the quarter was up 29.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.56 EPS. On average, analysts expect FleetCor Technologies to post $7.74 EPS for the current fiscal year and $8.9 EPS for the next fiscal year.
Shares of FleetCor Technologies, Inc. (NYSE:FLT) opened at 165.37 on Friday. FleetCor Technologies, Inc. has a 52 week low of $121.52 and a 52 week high of $176.42. The firm has a market capitalization of $15.19 billion, a price-to-earnings ratio of 32.69 and a beta of 1.44. The stock has a 50 day moving average of $156.56 and a 200-day moving average of $147.18.
FleetCor Technologies announced that its board has authorized a stock repurchase plan on Thursday, August 3rd that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the business services provider to reacquire up to 1.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
Several research firms have weighed in on FLT. SunTrust Banks, Inc. set a $180.00 price objective on shares of FleetCor Technologies and gave the company a “buy” rating in a research report on Tuesday, October 24th. Morgan Stanley raised their price objective on shares of FleetCor Technologies from $184.00 to $189.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. Zacks Investment Research upgraded shares of FleetCor Technologies from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research report on Monday, October 9th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $185.00 price objective on shares of FleetCor Technologies in a research report on Tuesday, September 26th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $197.00 price objective on shares of FleetCor Technologies in a research report on Saturday, September 16th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. FleetCor Technologies has a consensus rating of “Buy” and a consensus target price of $180.08.
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In other news, CEO Andrew Blazye sold 8,353 shares of FleetCor Technologies stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $144.00, for a total transaction of $1,202,832.00. Following the completion of the sale, the chief executive officer now owns 24,766 shares in the company, valued at approximately $3,566,304. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders have sold 15,758 shares of company stock valued at $2,274,115. 4.30% of the stock is owned by corporate insiders.
FleetCor Technologies Company Profile
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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