FleetCor Technologies (FLT) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $1.56 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $1.54. The company posted revenue of $417.90 million in the period, compared to analysts expectations of $415.87 million. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.48 EPS.
Many Wall Street Analysts have commented on FleetCor Technologies. JP Morgan Upgraded FleetCor Technologies on Jul 12, 2016 to ” Overweight”, Price Target of the shares are set at $159.FleetCor Technologies was Initiated by SunTrust to “Buy” on Jun 24, 2016.
FleetCor Technologies closed down -1.72 points or -1.13% at $150.59 with 6,84,549 shares getting traded on Tusday. Post opening the session at $152.32, the shares hit an intraday low of $148.2 and an intraday high of $152.32 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on Jul 19, 2016, Todd House (President NA Card Products) sold 4,347 shares at $151.99 per share price. According to the SEC, on Jul 14, 2016, Charles Richard Freund (EVP Global Sales) sold 21,969 shares at $149.00 per share price. On Jun 8, 2016, Armando Lins Netto (CEO Brazil) sold 6,200 shares at $151.89 per share price, according to the Form-4 filing with the securities and exchange commission.
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. The Company operates in two segments: North America and International. In North America the Company sells a fuel card product commercial payment and data solutions as well as a fleet telematics offering which allows customers to track the location of mobile workers in field-based businesses as well as over-the-road trucking fleets. In its International segment the Company provides small and mid-sized fleets with fuel cards to control and manage spending. Additionally the Company provides a similar fuel product in its International segment to over-the-road trucking fleets shipping fleets and other operators of heavily industrialized equipment.