Wall Street brokerages predict that FleetCor Technologies, Inc. (NYSE:FLT) will announce $622.03 million in sales for the current quarter, Zacks reports. Six analysts have provided estimates for FleetCor Technologies’ earnings. The highest sales estimate is $627.20 million and the lowest is $616.10 million. FleetCor Technologies reported sales of $609.99 million during the same quarter last year, which indicates a positive year over year growth rate of 2%. The company is expected to issue its next quarterly earnings results on Thursday, February 14th.

On average, analysts expect that FleetCor Technologies will report full-year sales of $2.41 billion for the current financial year, with estimates ranging from $2.41 billion to $2.42 billion. For the next financial year, analysts expect that the business will report sales of $2.60 billion, with estimates ranging from $2.57 billion to $2.66 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover FleetCor Technologies.

FleetCor Technologies (NYSE:FLT) last posted its earnings results on Tuesday, October 30th. The business services provider reported $2.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.66 by $0.02. FleetCor Technologies had a net margin of 33.01% and a return on equity of 24.22%. The business had revenue of $619.60 million for the quarter, compared to analysts’ expectations of $609.75 million. During the same period in the prior year, the company posted $2.18 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year.

FLT has been the topic of a number of research analyst reports. Wolfe Research initiated coverage on shares of FleetCor Technologies in a report on Tuesday, July 17th. They issued an “outperform” rating on the stock. Citigroup increased their price target 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. Morgan Stanley increased their price target 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. Zacks Investment Research raised shares of FleetCor Technologies from a “hold” rating to a “buy” rating and set a $249.00 price target on the stock in a report on Tuesday, September 25th. Finally, Deutsche Bank reissued a “buy” rating on shares of FleetCor Technologies in a report on Thursday, September 27th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $234.89.

Large investors have recently modified their holdings of the company. Korea Investment CORP grew its holdings in shares of FleetCor Technologies by 23.7% during the 2nd quarter. Korea Investment CORP now owns 30,292 shares of the business services provider’s stock valued at $6,381,000 after purchasing an additional 5,800 shares during the last quarter. Bank of Nova Scotia bought a new position in shares of FleetCor Technologies during the 2nd quarter valued at $2,065,000. MetLife Investment Advisors LLC bought a new position in shares of FleetCor Technologies during the 2nd quarter valued at $5,558,000. Legal & General Group Plc grew its holdings in shares of FleetCor Technologies by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 377,429 shares of the business services provider’s stock valued at $79,505,000 after purchasing an additional 7,303 shares during the last quarter. Finally, Highland Capital Management LP bought a new position in shares of FleetCor Technologies during the 2nd quarter valued at $421,000. 98.08% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:FLT opened at $199.82 on Friday. The firm has a market capitalization of $18.08 billion, a PE ratio of 21.51, a P/E/G ratio of 1.26 and a beta of 1.51. FleetCor Technologies has a one year low of $174.31 and a one year high of $230.24. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.88 and a current ratio of 0.92.

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.

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