FleetCor Technologies, Inc. (NYSE:FLT)’s share price hit a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The company traded as high as $268.35 and last traded at $263.79, with a volume of 582435 shares traded. The stock had previously closed at $248.66.
The business services provider reported $2.56 EPS for the quarter, topping the Zacks’ consensus estimate of $2.46 by $0.10. The company had revenue of $621.80 million for the quarter, compared to analyst estimates of $608.40 million. FleetCor Technologies had a return on equity of 25.73% and a net margin of 33.35%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.50 earnings per share.
A number of equities analysts recently commented on the company. Zacks Investment Research lowered FleetCor Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. Mizuho lifted their price objective on FleetCor Technologies from $245.00 to $247.00 and gave the stock a “neutral” rating in a research note on Wednesday. Oppenheimer lifted their price objective on FleetCor Technologies from $265.00 to $270.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, SunTrust Banks lifted their price objective on FleetCor Technologies to $300.00 and gave the stock a “buy” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. FleetCor Technologies has a consensus rating of “Buy” and a consensus target price of $255.33.
The company has a debt-to-equity ratio of 0.82, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market cap of $22.22 billion, a PE ratio of 26.81, a P/E/G ratio of 1.42 and a beta of 1.24.
About FleetCor Technologies (NYSE:FLT)
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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