Corpay (NYSE:CPAY – Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 18.900-19.100 for the period, compared to the consensus earnings per share estimate of 18.960. The company issued revenue guidance of $4.0 billion-$4.0 billion, compared to the consensus revenue estimate of $4.0 billion. Corpay also updated its FY24 guidance to $18.90-19.10 EPS.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on CPAY. Keefe, Bruyette & Woods upped their price target on shares of Corpay from $380.00 to $400.00 and gave the company an “outperform” rating in a report on Friday. Barclays increased their target price on shares of Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Royal Bank of Canada restated a “sector perform” rating and set a $310.00 price target on shares of Corpay in a report on Thursday, August 8th. William Blair raised Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Wells Fargo & Company lifted their price objective on Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $356.79.
Get Our Latest Stock Report on CPAY
Corpay Stock Up 5.6 %
Corpay (NYSE:CPAY – Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.04. The firm had revenue of $975.70 million during the quarter, compared to analyst estimates of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The business’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the business earned $3.85 earnings per share. Equities research analysts predict that Corpay will post 17.96 earnings per share for the current year.
About Corpay
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.
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