Corpay (NYSE:CPAY) Issues Q3 2024 Earnings Guidance

Corpay (NYSE:CPAY) updated its third quarter 2024 earnings guidance on Monday. The company provided earnings per share guidance of 5.000-5.000 for the period, compared to the consensus earnings per share estimate of 4.960. The company issued revenue guidance of $1.0 billion-$1.0 billion, compared to the consensus revenue estimate of $1.0 billion.

Corpay Price Performance

Shares of CPAY stock opened at $338.92 on Tuesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. Corpay has a fifty-two week low of $220.39 and a fifty-two week high of $355.47. The firm has a market cap of $23.82 billion, a P/E ratio of 25.22, a P/E/G ratio of 1.39 and a beta of 1.22. The business’s 50 day moving average price is $319.30 and its 200-day moving average price is $293.90.

Corpay (NYSE:CPAY) last released its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.04. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The business had revenue of $975.70 million for the quarter, compared to analysts’ expectations of $973.84 million. During the same quarter in the previous year, the business posted $3.85 earnings per share. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities research analysts anticipate that Corpay will post 17.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CPAY shares. Jefferies Financial Group increased their price target on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. BMO Capital Markets raised their target price on Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Raymond James reduced their price target on Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company raised their price objective on Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Finally, Bank of America upped their target price on shares of Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Corpay has an average rating of “Moderate Buy” and a consensus price target of $355.83.

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.