Zacks Research Comments on Corpay, Inc.’s Q2 2024 Earnings (NYSE:CPAY)

Corpay, Inc. (NYSE:CPAY) – Equities research analysts at Zacks Research decreased their Q2 2024 earnings per share (EPS) estimates for Corpay in a note issued to investors on Monday, July 22nd. Zacks Research analyst R. Department now anticipates that the company will post earnings per share of $4.19 for the quarter, down from their previous forecast of $4.20. The consensus estimate for Corpay’s current full-year earnings is $17.82 per share. Zacks Research also issued estimates for Corpay’s Q3 2024 earnings at $4.82 EPS, FY2024 earnings at $17.80 EPS, Q1 2025 earnings at $4.38 EPS, FY2025 earnings at $20.45 EPS and Q1 2026 earnings at $5.19 EPS.

Several other brokerages have also issued reports on CPAY. JPMorgan Chase & Co. cut their price target on Corpay from $330.00 to $326.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Evercore ISI cut their price target on Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Citigroup increased their price target on Corpay from $325.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. BMO Capital Markets cut their price target on Corpay from $360.00 to $350.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Finally, Bank of America increased their price target on Corpay from $326.00 to $331.00 and gave the stock a “buy” rating in a report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $333.91.

Corpay Price Performance

NYSE CPAY opened at $285.56 on Wednesday. The business’s 50 day simple moving average is $270.19. Corpay has a one year low of $220.39 and a one year high of $319.94. The firm has a market capitalization of $20.07 billion, a PE ratio of 21.25, a P/E/G ratio of 1.11 and a beta of 1.20. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.48.

Corpay (NYSE:CPAY) last released its earnings results on Wednesday, May 8th. The company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.80 by $0.04. Corpay had a return on equity of 36.97% and a net margin of 26.29%. The business had revenue of $935.25 million during the quarter, compared to analysts’ expectations of $936.25 million.

Institutional Trading of Corpay

A number of hedge funds have recently bought and sold shares of CPAY. Global Retirement Partners LLC bought a new stake in Corpay during the first quarter worth $25,000. Headlands Technologies LLC bought a new stake in Corpay during the first quarter worth $31,000. Sunbelt Securities Inc. bought a new stake in Corpay during the first quarter worth $34,000. RFP Financial Group LLC purchased a new stake in Corpay in the first quarter worth $35,000. Finally, Blue Trust Inc. increased its position in Corpay by 246.2% in the second quarter. Blue Trust Inc. now owns 135 shares of the company’s stock worth $36,000 after buying an additional 96 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors.

Corpay Company Profile

Corpay, Inc operates as a payments company that helps businesses and consumers manage vehicle-related expenses, lodging expenses, and corporate payments in the United States, Brazil, the United Kingdom, and internationally. The company offers vehicle payment solutions, which include fuel, tolls, parking, fleet maintenance, and long-haul transportation services, as well as prepaid food and transportation vouchers and cards.