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Reasons to Add FLEETCOR Technologies (FLT) to Your Portfolio
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FLEETCOR Technologies, Inc. stock has performed impressively over the past six months and has the potential to increase momentum in the near term. If you haven’t taken advantage of its share price appreciation yet, it’s time you add the stock to your portfolio.
What Makes it an Attractive Pick?
An Outperformer: A glimpse at the company’s price trend reveals that the stock has gained 24.3% over the past six months, outperforming 20.9% rally of the industry it belongs to.
Solid Rank: FLEETCOR currently carries a Zacks Rank #2 (Buy) and has a Value Growth Momentum Score (VGM Score) of B. Our research shows that stocks with a VGM Score of A or B, when combined with a Zacks Rank #1 (Strong Buy) or 2, offer the best investment opportunities. Thus, the company is a compelling investment proposition at the moment. You can see the complete list of today’s Zacks #1 Rank stocks here.
Northward Estimate Revisions: Five estimates for FLEETCOR’s 2023 earnings moved north in the past 60 days versus three downward revisions. Over the same period, the Zacks Consensus Estimate for 2023 has inched up 0.5%.
Positive Earnings Surprise History: FLEETCOR has an impressive earnings surprise history. The company outpaced the Zacks Consensus Estimate in the trailing four quarters, delivering an average earnings surprise of 3.8%.
Strong Growth Prospects: The Zacks Consensus Estimate for 2023 earnings is currently pegged at $17 per share, indicating year-over-year growth of 5.6%. Earnings are expected to register 16.2% growth in 2024. The stock has long-term expected earnings per share growth rate of 12.1%.
Growth Drivers: FLEETCOR’s presence in multiple continents lets it tap various new customer markets. It provides the company with cost economies and lets it acquire assets to leverage cost synergies, use new practices and launch new products. Revenues from the international business accounted for 38.9% of the total revenues generated in 2022.
Fleetcor’s business is currently banking on organic growth, revenue retention, client acquisition and selling value-added products through the company’s various payment solutions. Organic growth during 2022 was 13% due to the positive impacts of growing transaction volume and a beneficial macroeconomic environment.
FLEETCOR has a consistent track record of share repurchases. In 2022, 2021, 2020 and 2019, the company repurchased shares worth $1.41 billion, $1.36 billion, $849.9 million and $694.9 million, respectively. Such moves instill investors’ confidence and positively impact earnings per share.
For first-quarter 2023, ICF International’s earnings are expected to increase 7.6% year over year to $1.41 per share. In 2023, the company’s bottom line is expected to increase 9.2% on a year-over-year basis. The company currently sports a Zacks Rank #1.
The Zacks Consensus Estimate for Gartner’s first-quarter 2023 earnings is pegged at $2.04 per share. The bottom line has been revised 3% upward in the past 60 days. The consensus estimate for full-year 2023 is pegged at $9.49 per share, which has been revised 1% upward in the past 60 days. The company currently carries a Zacks Rank of 1.
The Zacks Consensus Estimate for Maximus’s first-quarter 2023 and full-year earnings is pegged at 78 cents per share and $4.16, respectively. The first-quarter consensus mark has been revised 15% downward in the past 60 days. The consensus estimate for full-year 2023 has been revised 7.5% upward in the past 60 days. The company currently carries a Zacks Rank of 2.
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Reasons to Add FLEETCOR Technologies (FLT) to Your Portfolio
FLEETCOR Technologies, Inc. stock has performed impressively over the past six months and has the potential to increase momentum in the near term. If you haven’t taken advantage of its share price appreciation yet, it’s time you add the stock to your portfolio.
What Makes it an Attractive Pick?
An Outperformer: A glimpse at the company’s price trend reveals that the stock has gained 24.3% over the past six months, outperforming 20.9% rally of the industry it belongs to.
FleetCor Technologies, Inc. Price
FleetCor Technologies, Inc. price | FleetCor Technologies, Inc. Quote
Solid Rank: FLEETCOR currently carries a Zacks Rank #2 (Buy) and has a Value Growth Momentum Score (VGM Score) of B. Our research shows that stocks with a VGM Score of A or B, when combined with a Zacks Rank #1 (Strong Buy) or 2, offer the best investment opportunities. Thus, the company is a compelling investment proposition at the moment. You can see the complete list of today’s Zacks #1 Rank stocks here.
Northward Estimate Revisions: Five estimates for FLEETCOR’s 2023 earnings moved north in the past 60 days versus three downward revisions. Over the same period, the Zacks Consensus Estimate for 2023 has inched up 0.5%.
Positive Earnings Surprise History: FLEETCOR has an impressive earnings surprise history. The company outpaced the Zacks Consensus Estimate in the trailing four quarters, delivering an average earnings surprise of 3.8%.
Strong Growth Prospects: The Zacks Consensus Estimate for 2023 earnings is currently pegged at $17 per share, indicating year-over-year growth of 5.6%. Earnings are expected to register 16.2% growth in 2024. The stock has long-term expected earnings per share growth rate of 12.1%.
Growth Drivers: FLEETCOR’s presence in multiple continents lets it tap various new customer markets. It provides the company with cost economies and lets it acquire assets to leverage cost synergies, use new practices and launch new products. Revenues from the international business accounted for 38.9% of the total revenues generated in 2022.
Fleetcor’s business is currently banking on organic growth, revenue retention, client acquisition and selling value-added products through the company’s various payment solutions. Organic growth during 2022 was 13% due to the positive impacts of growing transaction volume and a beneficial macroeconomic environment.
FLEETCOR has a consistent track record of share repurchases. In 2022, 2021, 2020 and 2019, the company repurchased shares worth $1.41 billion, $1.36 billion, $849.9 million and $694.9 million, respectively. Such moves instill investors’ confidence and positively impact earnings per share.
Other Stocks to Consider
Some other top-ranked stocks in the Zacks Business Services sector are ICF International (ICFI - Free Report) , Maximus (MMS - Free Report) and Gartner, Inc. (IT - Free Report) .
For first-quarter 2023, ICF International’s earnings are expected to increase 7.6% year over year to $1.41 per share. In 2023, the company’s bottom line is expected to increase 9.2% on a year-over-year basis. The company currently sports a Zacks Rank #1.
The Zacks Consensus Estimate for Gartner’s first-quarter 2023 earnings is pegged at $2.04 per share. The bottom line has been revised 3% upward in the past 60 days. The consensus estimate for full-year 2023 is pegged at $9.49 per share, which has been revised 1% upward in the past 60 days. The company currently carries a Zacks Rank of 1.
The Zacks Consensus Estimate for Maximus’s first-quarter 2023 and full-year earnings is pegged at 78 cents per share and $4.16, respectively. The first-quarter consensus mark has been revised 15% downward in the past 60 days. The consensus estimate for full-year 2023 has been revised 7.5% upward in the past 60 days. The company currently carries a Zacks Rank of 2.