We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
FleetCor Technologies (FLT) Soars 6.4%: Is Further Upside Left in the Stock?
Read MoreHide Full Article
FleetCor Technologies shares rallied 5.8% in the last trading session to close at $210.63. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 12.4% loss over the past four weeks.
This increased investor optimism can be attributed to FLEETCOR’s cooperation agreement with long-term shareholder D.E. Shaw.
As part of the agreement, Rahul Gupta has been appointed to the company’s board directors and another mutually agreed-upon director is to be added. Additionally, the agreement includes the decision of from an ad hoc Strategic Review Committee for assessment of portfolio and business configuration. The review will consider strategic alternatives such as divestiture.
Notably, the growing popularity of electric vehicles has been keeping investors skeptical about FLEETCOR’s fuel card business.
FLEETCOR is expected to post quarterly earnings of $3.69 per share in its upcoming report, which represents a year-over-year change of +1.1%. Revenues are expected to be $881.8 million, up 11.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For FleetCor Technologies, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on FLT going forward to see if this recent jump can turn into more strength down the road.
FleetCor Technologies is part of the Zacks Financial Transaction Services industry. Shift4 Payments (FOUR - Free Report) , another stock in the same industry, closed the last trading session 0.3% lower at $66.94. FOUR has returned 16.1% in the past month.
For Shift4 Payments, the consensus EPS estimate for the upcoming report has changed +31.5% over the past month to $0.40. This represents a change of +166.7% from what the company reported a year ago. Shift4 Payments currently has a Zacks Rank of #3 (Hold).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
FleetCor Technologies (FLT) Soars 6.4%: Is Further Upside Left in the Stock?
FleetCor Technologies shares rallied 5.8% in the last trading session to close at $210.63. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 12.4% loss over the past four weeks.
This increased investor optimism can be attributed to FLEETCOR’s cooperation agreement with long-term shareholder D.E. Shaw.
As part of the agreement, Rahul Gupta has been appointed to the company’s board directors and another mutually agreed-upon director is to be added. Additionally, the agreement includes the decision of from an ad hoc Strategic Review Committee for assessment of portfolio and business configuration. The review will consider strategic alternatives such as divestiture.
Notably, the growing popularity of electric vehicles has been keeping investors skeptical about FLEETCOR’s fuel card business.
FLEETCOR is expected to post quarterly earnings of $3.69 per share in its upcoming report, which represents a year-over-year change of +1.1%. Revenues are expected to be $881.8 million, up 11.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For FleetCor Technologies, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on FLT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
FleetCor Technologies is part of the Zacks Financial Transaction Services industry. Shift4 Payments (FOUR - Free Report) , another stock in the same industry, closed the last trading session 0.3% lower at $66.94. FOUR has returned 16.1% in the past month.
For Shift4 Payments, the consensus EPS estimate for the upcoming report has changed +31.5% over the past month to $0.40. This represents a change of +166.7% from what the company reported a year ago. Shift4 Payments currently has a Zacks Rank of #3 (Hold).