FleetCor Technologies (NYSE:FLT) announced its quarterly earnings data on Tuesday. The business services provider reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.02, MarketWatch Earnings reports. The company had revenue of $619.60 million for the quarter, compared to analysts’ expectations of $609.75 million. FleetCor Technologies had a net margin of 35.50% and a return on equity of 23.23%. FleetCor Technologies’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.18 EPS. FleetCor Technologies updated its FY 2018 guidance to $10.40-10.50 EPS and its FY18 guidance to $10.40-10.50 EPS.
Shares of FleetCor Technologies stock traded up $17.65 on Wednesday, hitting $202.90. The company’s stock had a trading volume of 69,977 shares, compared to its average volume of 632,177. FleetCor Technologies has a 52-week low of $163.39 and a 52-week high of $230.24. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $16.65 billion, a PE ratio of 25.51, a P/E/G ratio of 1.13 and a beta of 1.46.
Several brokerages have commented on FLT. Deutsche Bank restated a “buy” rating on shares of FleetCor Technologies in a research report on Thursday, September 27th. Zacks Investment Research lowered shares of FleetCor Technologies from a “buy” rating to a “sell” rating in a research report on Wednesday, October 3rd. Morgan Stanley boosted their target price on shares of FleetCor Technologies from $238.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, August 3rd. Citigroup boosted their target price on shares of FleetCor Technologies from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, July 20th. Finally, Wolfe Research began coverage on shares of FleetCor Technologies in a research report on Tuesday, July 17th. They set an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. FleetCor Technologies has an average rating of “Buy” and a consensus target price of $231.40.
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.
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