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Reasons to Retain FLEETCOR Technologies (FLT) in Your Portfolio

By Zacks Investment ResearchStock MarketsJul 04, 2021 10:48PM ET
Reasons to Retain FLEETCOR Technologies (FLT) in Your Portfolio
By Zacks Investment Research   |  Jul 04, 2021 10:48PM ET
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FLEETCOR Technologies, Inc. FLT 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 (NYSE:ACN) ACN, Gartner (NYSE:IT) IT and CRA International CRAI, 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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FleetCor Technologies, Inc. (FLT): Free Stock Analysis Report

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Zacks Investment Research
Reasons to Retain FLEETCOR Technologies (FLT) in Your Portfolio

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Reasons to Retain FLEETCOR Technologies (FLT) in Your Portfolio

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