$679.55 Million in Sales Expected for FleetCor Technologies, Inc. (NYSE:FLT) This Quarter

Equities analysts predict that FleetCor Technologies, Inc. (NYSE:FLT) will post sales of $679.55 million for the current quarter, according to Zacks. Seven analysts have made estimates for FleetCor Technologies’ earnings. The lowest sales estimate is $670.60 million and the highest is $684.80 million. FleetCor Technologies reported sales of $621.83 million in the same quarter last year, which indicates a positive year over year growth rate of 9.3%. The company is scheduled to announce its next quarterly earnings report on Tuesday, May 5th.

On average, analysts expect that FleetCor Technologies will report full year sales of $2.92 billion for the current year, with estimates ranging from $2.87 billion to $2.94 billion. For the next financial year, analysts forecast that the business will post sales of $3.21 billion, with estimates ranging from $3.18 billion to $3.25 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for FleetCor Technologies.

FleetCor Technologies (NYSE:FLT) last issued its earnings results on Thursday, February 6th. The business services provider reported $3.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.13 by $0.04. The firm had revenue of $698.90 million during the quarter, compared to analysts’ expectations of $705.49 million. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.78 EPS.

Several analysts have issued reports on FLT shares. Royal Bank of Canada reaffirmed a “hold” rating on shares of FleetCor Technologies in a research note on Sunday, February 9th. Oppenheimer reaffirmed a “buy” rating and issued a $335.00 target price on shares of FleetCor Technologies in a research note on Thursday, February 6th. Citigroup upped their target price on FleetCor Technologies from $340.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Cfra upped their target price on FleetCor Technologies from $310.00 to $325.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. Finally, Morgan Stanley increased their price objective on FleetCor Technologies from $316.00 to $317.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the company’s stock. FleetCor Technologies presently has an average rating of “Hold” and a consensus price target of $304.33.

Several large investors have recently added to or reduced their stakes in the company. Tradewinds Capital Management LLC purchased a new stake in FleetCor Technologies in the third quarter worth $29,000. NumerixS Investment Technologies Inc purchased a new stake in FleetCor Technologies in the fourth quarter worth $29,000. Allred Capital Management LLC purchased a new stake in FleetCor Technologies in the fourth quarter worth $30,000. Signaturefd LLC lifted its stake in FleetCor Technologies by 50.7% in the third quarter. Signaturefd LLC now owns 110 shares of the business services provider’s stock worth $32,000 after acquiring an additional 37 shares during the period. Finally, CFM Wealth Partners LLC purchased a new stake in FleetCor Technologies in the fourth quarter worth $41,000. 93.58% of the stock is owned by hedge funds and other institutional investors.

FLT traded up $0.85 during midday trading on Tuesday, hitting $318.43. The stock had a trading volume of 830,008 shares. The business has a fifty day moving average of $305.77 and a 200 day moving average of $296.85. FleetCor Technologies has a 1 year low of $221.08 and a 1 year high of $329.85.

FleetCor Technologies Company Profile

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.

See Also: What is Green Investing?

Get a free copy of the Zacks research report on FleetCor Technologies (FLT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for FleetCor Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FleetCor Technologies and related companies with MarketBeat.com's FREE daily email newsletter.