Q1 2023 EPS Estimates for FLEETCOR Technologies, Inc. (NYSE:FLT) Cut by William Blair – MarketBeat
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FLEETCOR Technologies, Inc. (NYSE:FLT – Get Rating) – Investment analysts at William Blair decreased their Q1 2023 earnings per share estimates for shares of FLEETCOR Technologies in a research report issued on Wednesday, November 2nd. William Blair analyst R. Napoli now forecasts that the business services provider will post earnings per share of $3.58 for the quarter, down from their previous forecast of $3.66. The consensus estimate for FLEETCOR Technologies’ current full-year earnings is $14.70 per share. William Blair also issued estimates for FLEETCOR Technologies’ Q2 2023 earnings at $4.03 EPS, Q3 2023 earnings at $4.20 EPS and Q4 2023 earnings at $4.12 EPS.
FLT has been the subject of several other reports. Wells Fargo & Company reduced their target price on FLEETCOR Technologies from $298.00 to $274.00 and set an “overweight” rating for the company in a research note on Thursday, September 8th. Bank of America cut shares of FLEETCOR Technologies from a “buy” rating to a “neutral” rating and dropped their price target for the company from $278.00 to $203.00 in a research report on Thursday, October 20th. Morgan Stanley dropped their price target on shares of FLEETCOR Technologies from $196.00 to $188.00 and set an “equal weight” rating on the stock in a research report on Thursday. StockNews.com initiated coverage on shares of FLEETCOR Technologies in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Robert W. Baird dropped their price target on shares of FLEETCOR Technologies from $250.00 to $220.00 and set a “neutral” rating on the stock in a research report on Monday, September 26th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $246.08.
FLEETCOR Technologies Stock Performance
Shares of FLT opened at $177.17 on Monday. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.99 and a quick ratio of 1.06. The stock has a 50-day moving average of $189.50 and a 200-day moving average of $214.67. The company has a market cap of $13.29 billion, a PE ratio of 14.61, a P/E/G ratio of 0.84 and a beta of 1.22. FLEETCOR Technologies has a one year low of $161.69 and a one year high of $265.30.
Insider Buying and Selling
In related news, insider Alan King sold 1,379 shares of FLEETCOR Technologies stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $223.38, for a total value of $308,041.02. Following the sale, the insider now owns 9,250 shares of the company’s stock, valued at approximately $2,066,265. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.60% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the business. Deseret Mutual Benefit Administrators purchased a new position in FLEETCOR Technologies in the 2nd quarter valued at approximately $26,000. Covestor Ltd grew its stake in FLEETCOR Technologies by 253.1% in the 1st quarter. Covestor Ltd now owns 113 shares of the business services provider’s stock valued at $28,000 after buying an additional 81 shares in the last quarter. Allworth Financial LP purchased a new position in FLEETCOR Technologies in the 1st quarter valued at approximately $29,000. Clear Street Markets LLC grew its stake in FLEETCOR Technologies by 393.9% in the 2nd quarter. Clear Street Markets LLC now owns 163 shares of the business services provider’s stock valued at $34,000 after buying an additional 130 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new position in FLEETCOR Technologies in the 1st quarter valued at approximately $35,000. 91.52% of the stock is currently owned by hedge funds and other institutional investors.
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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