Oppenheimer Holdings Weighs in on FleetCor Technologies, Inc.’s Q4 2017 Earnings (FLT)

FleetCor Technologies, Inc. (NYSE:FLT) – Equities research analysts at Oppenheimer Holdings boosted their Q4 2017 earnings per share (EPS) estimates for shares of FleetCor Technologies in a research note issued to investors on Wednesday. Oppenheimer Holdings analyst G. Greene now anticipates that the firm will post earnings of $2.12 per share for the quarter, up from their previous forecast of $2.03. Oppenheimer Holdings has a “Outperform” rating on the stock. Oppenheimer Holdings also issued estimates for FleetCor Technologies’ Q1 2018 earnings at $1.99 EPS, Q2 2018 earnings at $2.08 EPS, Q3 2018 earnings at $2.27 EPS, Q4 2018 earnings at $2.39 EPS and FY2018 earnings at $8.72 EPS.

FleetCor Technologies (NYSE:FLT) last posted its earnings results on Wednesday, February 8th. The company reported $1.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.87 by $0.03. FleetCor Technologies had a net margin of 24.53% and a return on equity of 19.67%. The business had revenue of $515 million for the quarter, compared to analysts’ expectations of $502.73 million. During the same period in the prior year, the company posted $1.70 EPS. The business’s revenue for the quarter was up 21.4% compared to the same quarter last year.

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

A number of other research analysts have also recently weighed in on FLT. Jefferies Group LLC reiterated a “buy” rating and set a $200.00 price objective on shares of FleetCor Technologies in a research report on Sunday, October 23rd. Deutsche Bank AG reiterated a “buy” rating on shares of FleetCor Technologies in a research report on Wednesday, November 2nd. SunTrust Banks, Inc. set a $200.00 price objective on shares of FleetCor Technologies and gave the company a “buy” rating in a research report on Wednesday, November 2nd. Zacks Investment Research cut shares of FleetCor Technologies from a “buy” rating to a “hold” rating in a research report on Monday, November 7th. Finally, Wells Fargo & Company upgraded shares of FleetCor Technologies from a “market perform” rating to an “outperform” rating in a research report on Friday, November 18th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. FleetCor Technologies currently has an average rating of “Buy” and a consensus target price of $176.14.

FleetCor Technologies (NYSE:FLT) traded down 0.42% during mid-day trading on Monday, reaching $167.54. 270,194 shares of the company’s stock traded hands. FleetCor Technologies has a 12-month low of $112.63 and a 12-month high of $176.42. The stock has a 50 day moving average of $149.83 and a 200 day moving average of $158.31. The company has a market cap of $15.39 billion, a P/E ratio of 35.27 and a beta of 1.24.

A number of institutional investors have recently modified their holdings of FLT. Ameriprise Financial Inc. increased its position in shares of FleetCor Technologies by 15.5% in the third quarter. Ameriprise Financial Inc. now owns 516,296 shares of the company’s stock valued at $89,690,000 after buying an additional 69,180 shares during the period. Wells Fargo & Company MN boosted its stake in shares of FleetCor Technologies by 247.1% in the third quarter. Wells Fargo & Company MN now owns 639,990 shares of the company’s stock worth $111,185,000 after buying an additional 455,583 shares during the last quarter. Cornercap Investment Counsel Inc. purchased a new stake in shares of FleetCor Technologies during the fourth quarter worth approximately $2,218,000. Columbus Circle Investors boosted its stake in shares of FleetCor Technologies by 3.6% in the second quarter. Columbus Circle Investors now owns 999,168 shares of the company’s stock worth $143,011,000 after buying an additional 34,675 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of FleetCor Technologies by 1.1% in the third quarter. California Public Employees Retirement System now owns 161,400 shares of the company’s stock worth $28,040,000 after buying an additional 1,800 shares during the last quarter. Institutional investors own 93.73% of the company’s stock.

“Oppenheimer Holdings Weighs in on FleetCor Technologies, Inc.’s Q4 2017 Earnings (FLT)” was first posted by sleekmoney and is the property of of sleekmoney. If you are accessing this article on another domain, it was copied illegally and reposted in violation of U.S. & international copyright & trademark legislation. The correct version of this article can be accessed at http://sleekmoney.com/oppenheimer-holdings-weighs-in-on-fleetcor-technologies-inc-s-q4-2017-earnings-flt/1660490.html.

In related news, CEO David D. Maxsimic sold 1,270 shares of the stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $150.11, for a total value of $190,639.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.30% of the stock is currently owned by corporate insiders.

About FleetCor Technologies

FleetCor Technologies, Inc is an independent global provider of fuel cards, commercial payment and data solutions, stored value solutions, and workforce payment products and services to businesses, retailers, commercial fleets, oil companies, petroleum marketers and government entities in countries throughout North America, Latin America, Europe, Australia and New Zealand.

5 Day Chart for NYSE:FLT

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