Brokers Issue Forecasts for FleetCor Technologies, Inc.’s Q4 2018 Earnings (FLT)

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FleetCor Technologies, Inc. (NYSE:FLT) – Equities research analysts at Oppenheimer lowered their Q4 2018 EPS estimates for FleetCor Technologies in a research report issued to clients and investors on Wednesday, January 9th. Oppenheimer analyst G. Greene now expects that the business services provider will earn $2.55 per share for the quarter, down from their previous estimate of $2.56. Oppenheimer also issued estimates for FleetCor Technologies’ Q2 2019 earnings at $2.63 EPS and Q4 2019 earnings at $2.97 EPS.

Several other equities analysts have also recently weighed in on the stock. Goldman Sachs Group cut shares of FleetCor Technologies from a “buy” rating to a “neutral” rating and decreased their target price for the company from $245.00 to $215.00 in a research note on Tuesday, December 11th. Barclays initiated coverage on shares of FleetCor Technologies in a research note on Wednesday, November 14th. They issued an “overweight” rating and a $245.00 target price for the company. Zacks Investment Research cut shares of FleetCor Technologies from a “buy” rating to a “sell” rating in a research note on Wednesday, October 3rd. Deutsche Bank reaffirmed a “buy” rating on shares of FleetCor Technologies in a research report on Thursday, September 27th. Finally, ValuEngine cut shares of FleetCor Technologies from a “buy” rating to a “hold” rating in a research report on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $231.40.

NYSE FLT opened at $189.00 on Thursday. FleetCor Technologies has a 12-month low of $172.18 and a 12-month high of $230.24. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $23.29 billion, a PE ratio of 23.98, a price-to-earnings-growth ratio of 1.02 and a beta of 1.35.

FleetCor Technologies (NYSE:FLT) last posted its quarterly earnings data on Tuesday, October 30th. The business services provider reported $2.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.66 by $0.02. FleetCor Technologies had a net margin of 33.01% and a return on equity of 24.22%. The company had revenue of $619.60 million for the quarter, compared to the consensus estimate of $609.75 million. During the same period last year, the company earned $2.18 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year.

Hedge funds have recently bought and sold shares of the stock. Alps Advisors Inc. acquired a new position in shares of FleetCor Technologies in the second quarter valued at approximately $312,000. Dimensional Fund Advisors LP boosted its holdings in shares of FleetCor Technologies by 9.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 412,211 shares of the business services provider’s stock worth $86,834,000 after buying an additional 35,045 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of FleetCor Technologies by 14.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,406 shares of the business services provider’s stock worth $508,000 after buying an additional 307 shares in the last quarter. Federated Investors Inc. PA boosted its holdings in shares of FleetCor Technologies by 19,028.6% during the 2nd quarter. Federated Investors Inc. PA now owns 1,339 shares of the business services provider’s stock worth $282,000 after buying an additional 1,332 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of FleetCor Technologies by 60.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 18,108 shares of the business services provider’s stock worth $3,813,000 after buying an additional 6,825 shares in the last quarter. 68.53% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading: Front-End Load

Earnings History and Estimates for FleetCor Technologies (NYSE:FLT)

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