FLEETCOR Technologies, Inc. (NYSE:FLT) Expected to Announce Quarterly Sales of $816.99 Million

Analysts expect FLEETCOR Technologies, Inc. (NYSE:FLTGet Rating) to announce sales of $816.99 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for FLEETCOR Technologies’ earnings. The highest sales estimate is $821.22 million and the lowest is $810.57 million. FLEETCOR Technologies posted sales of $667.38 million during the same quarter last year, which would indicate a positive year over year growth rate of 22.4%. The firm is scheduled to issue its next earnings results on Monday, January 1st.

On average, analysts expect that FLEETCOR Technologies will report full year sales of $3.36 billion for the current financial year, with estimates ranging from $3.34 billion to $3.37 billion. For the next year, analysts expect that the company will report sales of $3.68 billion, with estimates ranging from $3.62 billion to $3.75 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for FLEETCOR Technologies.

FLEETCOR Technologies (NYSE:FLTGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The business services provider reported $3.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.53 by $0.12. The firm had revenue of $789.20 million during the quarter, compared to the consensus estimate of $756.56 million. FLEETCOR Technologies had a return on equity of 34.88% and a net margin of 28.97%. The company’s revenue for the quarter was up 29.7% on a year-over-year basis. During the same quarter last year, the company posted $2.66 EPS.

A number of analysts recently weighed in on FLT shares. Truist Financial boosted their target price on FLEETCOR Technologies from $280.00 to $290.00 in a research report on Monday, May 9th. StockNews.com started coverage on FLEETCOR Technologies in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Barclays lifted their price target on FLEETCOR Technologies from $306.00 to $312.00 and gave the stock an “overweight” rating in a research note on Thursday, April 14th. Wells Fargo & Company assumed coverage on FLEETCOR Technologies in a research note on Monday, April 4th. They issued an “overweight” rating and a $294.00 price target on the stock. Finally, Morgan Stanley reduced their target price on FLEETCOR Technologies from $275.00 to $265.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 9th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $290.71.

NYSE:FLT opened at $231.08 on Monday. The business has a 50 day moving average of $244.10 and a 200 day moving average of $235.35. The company has a market capitalization of $17.87 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 0.99 and a beta of 1.22. FLEETCOR Technologies has a 1-year low of $200.78 and a 1-year high of $282.02. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.01 and a quick ratio of 1.01.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley boosted its holdings in FLEETCOR Technologies by 55.3% in the second quarter. Morgan Stanley now owns 314,539 shares of the business services provider’s stock worth $80,542,000 after acquiring an additional 111,943 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in FLEETCOR Technologies by 42.0% in the third quarter. Goldman Sachs Group Inc. now owns 265,515 shares of the business services provider’s stock worth $69,371,000 after acquiring an additional 78,535 shares in the last quarter. US Bancorp DE boosted its holdings in FLEETCOR Technologies by 82.8% in the third quarter. US Bancorp DE now owns 5,401 shares of the business services provider’s stock worth $1,412,000 after acquiring an additional 2,447 shares in the last quarter. American Century Companies Inc. boosted its holdings in FLEETCOR Technologies by 9.7% in the third quarter. American Century Companies Inc. now owns 2,005 shares of the business services provider’s stock worth $524,000 after acquiring an additional 178 shares in the last quarter. Finally, Achmea Investment Management B.V. lifted its holdings in shares of FLEETCOR Technologies by 3.1% during the third quarter. Achmea Investment Management B.V. now owns 3,763 shares of the business services provider’s stock valued at $983,000 after purchasing an additional 113 shares in the last quarter. Institutional investors own 97.44% of the company’s stock.

FLEETCOR Technologies Company Profile (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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