FleetCor Technologies, Inc. (NYSE:FLT) – Analysts at SunTrust Banks boosted their FY2019 EPS estimates for shares of FleetCor Technologies in a research report issued on Tuesday, May 7th, Zacks Investment Research reports. SunTrust Banks analyst O. Turner now expects that the business services provider will post earnings of $11.10 per share for the year, up from their prior forecast of $11.05. SunTrust Banks currently has a “Buy” rating and a $300.00 target price on the stock.
FleetCor Technologies (NYSE:FLT) last issued its earnings results on Tuesday, May 7th. The business services provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.46 by $0.10. The business had revenue of $621.80 million during the quarter, compared to analyst estimates of $608.40 million. FleetCor Technologies had a return on equity of 26.56% and a net margin of 32.74%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.50 EPS.
FLT has been the subject of a number of other research reports. Mizuho reaffirmed a “neutral” rating and set a $230.00 target price on shares of FleetCor Technologies in a research note on Wednesday, February 20th. Zacks Investment Research upgraded shares of FleetCor Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, March 5th. BTIG Research boosted their price objective on shares of FleetCor Technologies from $253.00 to $288.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Oppenheimer increased their target price on shares of FleetCor Technologies from $265.00 to $270.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. Finally, Jefferies Financial Group set a $250.00 price target on shares of FleetCor Technologies and gave the company a “hold” rating in a research report on Tuesday, April 23rd. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $256.85.
Shares of FleetCor Technologies stock traded down $7.94 during trading on Friday, hitting $250.27. The stock had a trading volume of 980,256 shares, compared to its average volume of 582,339. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $22.26 billion, a P/E ratio of 25.20, a PEG ratio of 1.45 and a beta of 1.15. FleetCor Technologies has a 12 month low of $172.18 and a 12 month high of $276.89.
Institutional investors and hedge funds have recently modified their holdings of the stock. Sustainable Growth Advisers LP lifted its holdings in shares of FleetCor Technologies by 1.3% during the 4th quarter. Sustainable Growth Advisers LP now owns 1,843,688 shares of the business services provider’s stock valued at $342,409,000 after buying an additional 22,910 shares during the last quarter. Geode Capital Management LLC grew its position in FleetCor Technologies by 3.8% in the first quarter. Geode Capital Management LLC now owns 1,141,321 shares of the business services provider’s stock valued at $280,917,000 after acquiring an additional 42,169 shares during the period. Northern Trust Corp grew its position in FleetCor Technologies by 5.2% in the fourth quarter. Northern Trust Corp now owns 961,363 shares of the business services provider’s stock valued at $178,545,000 after acquiring an additional 47,704 shares during the period. Norges Bank acquired a new position in FleetCor Technologies in the fourth quarter worth $146,695,000. Finally, Bank of America Corp DE lifted its stake in shares of FleetCor Technologies by 2.5% during the fourth quarter. Bank of America Corp DE now owns 668,431 shares of the business services provider’s stock valued at $124,142,000 after acquiring an additional 16,394 shares during the period. 93.69% of the stock is currently owned by hedge funds and other institutional investors.
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.