FLEETCOR Technologies (NYSE:FLT) Updates FY 2022 Earnings Guidance

FLEETCOR Technologies (NYSE:FLTGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided EPS guidance of $15.45-$15.75 for the period, compared to the consensus EPS estimate of $15.49. The company issued revenue guidance of $3.33 billion-$3.38 billion, compared to the consensus revenue estimate of $3.26 billion.FLEETCOR Technologies also updated its Q2 2022 guidance to $3.80-$3.90 EPS.

NYSE:FLT traded down $1.83 during mid-day trading on Thursday, hitting $225.36. The stock had a trading volume of 15,162 shares, compared to its average volume of 572,477. FLEETCOR Technologies has a twelve month low of $200.78 and a twelve month high of $282.02. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $17.55 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 0.97 and a beta of 1.22. The company’s 50 day simple moving average is $244.05 and its 200 day simple moving average is $236.96.

FLEETCOR Technologies (NYSE:FLTGet Rating) last released its quarterly earnings data 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 company had revenue of $789.20 million during the quarter, compared to analysts’ expectations of $756.56 million. FLEETCOR Technologies had a return on equity of 34.13% and a net margin of 28.97%. The business’s revenue was up 29.7% on a year-over-year basis. During the same period last year, the firm posted $2.66 earnings per share. As a group, equities analysts forecast that FLEETCOR Technologies will post 14.49 earnings per share for the current year.

Several equities analysts have recently weighed in on FLT shares. Morgan Stanley dropped their price objective on shares of FLEETCOR Technologies from $275.00 to $265.00 and set an equal weight rating on the stock in a research report on Wednesday, February 9th. Truist Financial increased their price target on shares of FLEETCOR Technologies from $280.00 to $290.00 in a report on Monday. Mizuho raised their price objective on shares of FLEETCOR Technologies from $255.00 to $275.00 and gave the stock a neutral rating in a research report on Wednesday, February 16th. StockNews.com started coverage on FLEETCOR Technologies in a research report on Thursday, March 31st. They issued a hold rating on the stock. Finally, Wells Fargo & Company assumed coverage on FLEETCOR Technologies in a report on Monday, April 4th. They set an overweight rating and a $294.00 price target for the company. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, FLEETCOR Technologies currently has an average rating of Hold and a consensus target price of $290.71.

Several hedge funds have recently modified their holdings of the stock. Stifel Financial Corp grew its position in FLEETCOR Technologies by 26.3% during the fourth quarter. Stifel Financial Corp now owns 3,648 shares of the business services provider’s stock worth $817,000 after buying an additional 760 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of FLEETCOR Technologies by 15.9% during the 1st quarter. American Century Companies Inc. now owns 2,798 shares of the business services provider’s stock worth $697,000 after purchasing an additional 384 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of FLEETCOR Technologies by 123.0% during the 1st quarter. Private Advisor Group LLC now owns 2,355 shares of the business services provider’s stock worth $586,000 after purchasing an additional 1,299 shares in the last quarter. MML Investors Services LLC increased its position in shares of FLEETCOR Technologies by 55.4% in the fourth quarter. MML Investors Services LLC now owns 2,105 shares of the business services provider’s stock worth $471,000 after purchasing an additional 750 shares during the period. Finally, Toroso Investments LLC acquired a new position in FLEETCOR Technologies in the fourth quarter valued at about $442,000. Institutional investors and hedge funds own 97.44% of the company’s stock.

About FLEETCOR Technologies (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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Earnings History and Estimates for FLEETCOR Technologies (NYSE:FLT)

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