FleetCor Technologies (NYSE:FLT) Issues Earnings Results

FleetCor Technologies (NYSE:FLT) announced its quarterly earnings results on Tuesday, May 7th. The business services provider reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.10, Morningstar.com reports. FleetCor Technologies had a return on equity of 26.56% and a net margin of 32.74%. The firm had revenue of $621.80 million for the quarter, compared to analysts’ expectations of $608.40 million. During the same period in the prior year, the business posted $2.50 earnings per share. The business’s revenue was up 6.2% compared to the same quarter last year.

Shares of FLT opened at $257.78 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.77. FleetCor Technologies has a 12-month low of $172.18 and a 12-month high of $276.89. The firm has a market cap of $22.41 billion, a PE ratio of 25.96, a PEG ratio of 1.46 and a beta of 1.24.

Institutional investors and hedge funds have recently modified their holdings of the company. Quantamental Technologies LLC acquired a new position in shares of FleetCor Technologies during the first quarter valued at $25,000. Capital Investment Advisory Services LLC acquired a new position in shares of FleetCor Technologies during the fourth quarter valued at $25,000. Lindbrook Capital LLC acquired a new position in shares of FleetCor Technologies during the fourth quarter valued at $28,000. Bronfman E.L. Rothschild L.P. lifted its stake in shares of FleetCor Technologies by 254.3% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 163 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 117 shares during the period. Finally, Executive Wealth Management LLC acquired a new position in shares of FleetCor Technologies during the fourth quarter valued at $33,000. 93.77% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have weighed in on FLT shares. Mizuho reiterated a “neutral” rating and issued a $230.00 price target on shares of FleetCor Technologies in a research report on Wednesday, February 20th. Zacks Investment Research upgraded FleetCor Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, March 5th. BTIG Research boosted their price objective on FleetCor Technologies from $253.00 to $288.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Oppenheimer boosted their price objective on FleetCor Technologies from $265.00 to $270.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. Finally, Jefferies Financial Group set a $250.00 price objective on FleetCor Technologies and gave the stock a “hold” rating in a research note on Tuesday, April 23rd. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. FleetCor Technologies presently has a consensus rating of “Buy” and a consensus price target of $255.33.

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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 for FleetCor Technologies (NYSE:FLT)

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