FleetCor Technologies (FLT) Releases FY18 Earnings Guidance

FleetCor Technologies (NYSE:FLT) issued an update on its FY18 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $10.40-10.50 for the period, compared to the Thomson Reuters consensus estimate of $10.46. The company issued revenue guidance of $2.39-2.42 billion, compared to the consensus revenue estimate of $2.40 billion.FleetCor Technologies also updated its FY 2018 guidance to $10.40-10.50 EPS.

NYSE:FLT traded up $2.02 during mid-day trading on Tuesday, reaching $185.25. The company’s stock had a trading volume of 1,434,601 shares, compared to its average volume of 737,723. FleetCor Technologies has a 1 year low of $163.39 and a 1 year high of $230.24. The firm has a market cap of $16.65 billion, a PE ratio of 23.51, a price-to-earnings-growth ratio of 1.16 and a beta of 1.46. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.88 and a quick ratio of 0.88.

FleetCor Technologies (NYSE:FLT) last released its quarterly earnings data on Thursday, August 2nd. The business services provider reported $2.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.52 by $0.05. FleetCor Technologies had a net margin of 35.50% and a return on equity of 23.23%. The company had revenue of $585.00 million during the quarter, compared to analyst estimates of $596.27 million. During the same period in the prior year, the firm earned $1.99 earnings per share. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. Sell-side analysts anticipate that FleetCor Technologies will post 9.85 EPS for the current fiscal year.

A number of brokerages have commented on FLT. Zacks Investment Research upgraded shares of FleetCor Technologies from a sell rating to a buy rating and set a $230.00 target price for the company in a report on Thursday, October 11th. 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 report on Friday, August 3rd. Wolfe Research began coverage on shares of FleetCor Technologies in a report on Tuesday, July 17th. They issued an outperform rating for the company. Deutsche Bank reiterated a buy rating on shares of FleetCor Technologies in a report on Thursday, September 27th. Finally, 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 report on Friday, July 20th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. FleetCor Technologies has an average rating of Buy and an average target price of $231.40.

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: What are retained earnings?

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

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