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Reasons to Retain FLEETCOR Technologies (FLT) in Your Portfolio
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FLEETCOR Technologies, Inc. has an expected long-term (three to five years) earnings per share growth rate of 16%. The company’s earnings are expected to register 12.3% growth in 2021 and 17.4% growth in 2022.
Factors That Auger Well
The recent acquisition of Associated Foreign Exchange (“AFEX”) is expected to be immediately accretive to FLEETCOR’s 2021 adjusted EPS, as well as boost revenues in its corporate payments business. FLEETCOR’s EPS guidance, which has been raised on completion of the AFEX acquisition, is now anticipated between $12.32 and $12.88 compared with the prior guidance of $12.14-$12.70. The company expects organic revenues to be in good shape, with growth in the range of 9-13% in 2021. Acquisitions, over time, have helped the company expand its customer base, headcount and operations.
FLEETCOR’s debt level has declined quarter over quarter. Total debt at the end of first-quarter 2021 was $3.53 billion, down from the $3.63 billion recorded at the end of the prior quarter. Further, cash and cash equivalent balance of $1.43 billion was significantly higher than the short-term debt level of $449 million.
Some Risks
FLEETCOR’s global presence makes it vulnerable to the risks associated with foreign currency exchange rate fluctuations. Notably, foreign exchange rates had unfavorably impacted the company’s revenues by $112 million in 2020, $61 million in 2019 and $49 million in 2018.
Zacks Rank and Stocks to Consider
FLEETCOR currently carries a Zacks Rank #3 (Hold).
The long-term expected earnings per share (three to five years) growth rate for Accenture, Gartner and CRA International is pegged at 10%, 13.5% and 15.5%, respectively.
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Reasons to Retain FLEETCOR Technologies (FLT) in Your Portfolio
FLEETCOR Technologies, Inc. has an expected long-term (three to five years) earnings per share growth rate of 16%. The company’s earnings are expected to register 12.3% growth in 2021 and 17.4% growth in 2022.
Factors That Auger Well
The recent acquisition of Associated Foreign Exchange (“AFEX”) is expected to be immediately accretive to FLEETCOR’s 2021 adjusted EPS, as well as boost revenues in its corporate payments business. FLEETCOR’s EPS guidance, which has been raised on completion of the AFEX acquisition, is now anticipated between $12.32 and $12.88 compared with the prior guidance of $12.14-$12.70. The company expects organic revenues to be in good shape, with growth in the range of 9-13% in 2021. Acquisitions, over time, have helped the company expand its customer base, headcount and operations.
FLEETCOR’s debt level has declined quarter over quarter. Total debt at the end of first-quarter 2021 was $3.53 billion, down from the $3.63 billion recorded at the end of the prior quarter. Further, cash and cash equivalent balance of $1.43 billion was significantly higher than the short-term debt level of $449 million.
Some Risks
FLEETCOR’s global presence makes it vulnerable to the risks associated with foreign currency exchange rate fluctuations. Notably, foreign exchange rates had unfavorably impacted the company’s revenues by $112 million in 2020, $61 million in 2019 and $49 million in 2018.
Zacks Rank and Stocks to Consider
FLEETCOR currently carries a Zacks Rank #3 (Hold).
Some top-ranked Business Services stocks are Accenture (ACN - Free Report) , Gartner (IT - Free Report) and CRA International (CRAI - Free Report) , each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The long-term expected earnings per share (three to five years) growth rate for Accenture, Gartner and CRA International is pegged at 10%, 13.5% and 15.5%, respectively.
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If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%.
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