Analysts Set Expectations for FLEETCOR Technologies, Inc.’s Q1 2023 Earnings (NYSE:FLT)

FLEETCOR Technologies, Inc. (NYSE:FLTGet Rating) – Research analysts at Jefferies Financial Group lifted their Q1 2023 earnings per share (EPS) estimates for FLEETCOR Technologies in a report issued on Tuesday, April 19th. Jefferies Financial Group analyst T. Williams now anticipates that the business services provider will post earnings per share of $3.90 for the quarter, up from their previous forecast of $3.88. Jefferies Financial Group also issued estimates for FLEETCOR Technologies’ Q2 2023 earnings at $3.98 EPS, Q3 2023 earnings at $4.13 EPS, Q4 2023 earnings at $4.33 EPS and FY2023 earnings at $16.33 EPS.

FLEETCOR Technologies (NYSE:FLTGet Rating) last posted its quarterly earnings results on Tuesday, February 8th. The business services provider reported $3.47 EPS for the quarter, topping analysts’ consensus estimates of $3.33 by $0.14. FLEETCOR Technologies had a return on equity of 32.65% and a net margin of 29.63%. The business had revenue of $802.26 million during the quarter, compared to analysts’ expectations of $768.85 million. During the same quarter last year, the company posted $2.92 earnings per share. FLEETCOR Technologies’s quarterly revenue was up 30.0% on a year-over-year basis.

A number of other equities analysts have also recently commented on FLT. Mizuho lifted their price target on FLEETCOR Technologies from $255.00 to $275.00 and gave the stock a “neutral” rating in a report on Wednesday, February 16th. Morgan Stanley reduced their price objective on FLEETCOR Technologies from $275.00 to $265.00 and set an “equal weight” rating for the company in a report on Wednesday, February 9th. StockNews.com began coverage on FLEETCOR Technologies in a report on Thursday, March 31st. They set a “hold” rating for the company. Wells Fargo & Company began coverage on FLEETCOR Technologies in a report on Monday, April 4th. They set an “overweight” rating and a $294.00 price objective for the company. Finally, Barclays boosted their price objective on FLEETCOR Technologies from $306.00 to $312.00 and gave the stock an “overweight” rating in a report on Thursday, April 14th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $301.88.

FLEETCOR Technologies stock opened at $261.11 on Wednesday. FLEETCOR Technologies has a 52 week low of $200.78 and a 52 week high of $295.36. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $20.34 billion, a P/E ratio of 26.14, a PEG ratio of 1.12 and a beta of 1.31. The stock has a 50-day simple moving average of $241.78 and a 200 day simple moving average of $239.08.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLT. KB Financial Partners LLC acquired a new stake in shares of FLEETCOR Technologies in the fourth quarter valued at approximately $26,000. MUFG Americas Holdings Corp raised its position in FLEETCOR Technologies by 628.6% during the third quarter. MUFG Americas Holdings Corp now owns 102 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 88 shares in the last quarter. Consolidated Planning Corp acquired a new position in FLEETCOR Technologies during the third quarter valued at approximately $28,000. Lindbrook Capital LLC raised its position in FLEETCOR Technologies by 73.5% during the fourth quarter. Lindbrook Capital LLC now owns 144 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 61 shares in the last quarter. Finally, TCTC Holdings LLC acquired a new position in FLEETCOR Technologies during the third quarter valued at approximately $39,000. Institutional investors own 91.91% of the company’s stock.

About FLEETCOR Technologies (Get Rating)

FLEETCOR Technologies, Inc provides digital payment solutions for businesses to control purchases and make payments. It offers corporate payments solutions, such as accounts payable automation; Virtual Card, which provides a single-use card number for a specific amount usable within a defined timeframe; Cross-Border that is used by its customers to pay international vendors, foreign office and personnel expenses, capital expenditures, and profit repatriation and dividends; and purchasing cards and travel and entertainment cards for its customers to analyze and manage their corporate spending.

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

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