Somewhat Positive Media Coverage Somewhat Unlikely to Impact FleetCor Technologies (NYSE:FLT) Share Price
Media coverage about FleetCor Technologies (NYSE:FLT) has been trending somewhat positive this week, according to Accern. Accern rates the sentiment of press coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. FleetCor Technologies earned a news sentiment score of 0.14 on Accern’s scale. Accern also gave news headlines about the business services provider an impact score of 45.7969439935092 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
Here are some of the news headlines that may have effected Accern’s rankings:
- Norges Bank Adjusts Its Ownership in FleetCor Technologies, Inc. (FLT) Stock Last Quarter – Modern Readers (modernreaders.com)
- FleetCor Technologies, Inc. (NYSE:FLT) Cut to “Hold” at Zacks Investment Research (americanbankingnews.com)
- FLEETCOR Completes Acquisition of Cambridge Global Payments, a Leading B2B International Payments Provider – Business Wire (press release) (businesswire.com)
- Traders Keeping Fleetcor Technologies Inc (FLT) on Close Watch As Shares Move – Evergreen Caller (evergreencaller.com)
A number of analysts have issued reports on FLT shares. Deutsche Bank AG reiterated a “buy” rating and issued a $185.00 target price on shares of FleetCor Technologies in a research note on Monday, April 24th. Zacks Investment Research cut shares of FleetCor Technologies from a “hold” rating to a “sell” rating in a research note on Friday, April 28th. Citigroup Inc. upgraded shares of FleetCor Technologies from an “outperform” rating to a “strong-buy” rating and set a $180.00 target price for the company in a research note on Tuesday, May 2nd. Raymond James Financial, Inc. upgraded shares of FleetCor Technologies from an “outperform” rating to a “strong-buy” rating and set a $180.00 target price for the company in a research note on Tuesday, May 2nd. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $197.00 target price on shares of FleetCor Technologies in a research note on Tuesday, May 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $180.86.
Shares of FleetCor Technologies (NYSE FLT) traded down 1.06% during mid-day trading on Thursday, hitting $138.74. 1,055,728 shares of the stock were exchanged. FleetCor Technologies has a 12-month low of $121.52 and a 12-month high of $176.42. The company has a market capitalization of $12.75 billion, a PE ratio of 27.43 and a beta of 1.45. The firm has a 50-day moving average price of $147.11 and a 200 day moving average price of $149.43.
FleetCor Technologies (NYSE:FLT) last announced its quarterly earnings results on Thursday, August 3rd. The business services provider reported $1.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.83. FleetCor Technologies had a return on equity of 21.20% and a net margin of 23.28%. The business had revenue of $541.24 million during the quarter, compared to the consensus estimate of $528.33 million. During the same quarter last year, the firm posted $1.56 EPS. The company’s quarterly revenue was up 29.5% on a year-over-year basis. On average, equities research analysts expect that FleetCor Technologies will post $8.37 earnings per share for the current year.
FleetCor Technologies announced that its board has authorized a share buyback program on Thursday, August 3rd that permits the company to buyback $250.00 million in shares. This buyback authorization permits the business services provider to reacquire up to 1.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.
About FleetCor Technologies
FleetCor Technologies, Inc is a provider of workforce payment products. The Company offers fuel card payments product solutions, corporate payments products, toll products, lodging cards and gift cards. The Company operates through two segments: North America and International. Its products are sold to businesses, retailers, oil companies and marketers and government entities.
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