Corpay (NYSE:CPAY) Releases Q4 Earnings Guidance

Corpay (NYSE:CPAY) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $5.25-5.45 for the period, compared to the consensus estimate of $5.38.

Corpay Trading Down 2.2 %

Corpay stock opened at $374.58 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.69. Corpay has a 12 month low of $247.10 and a 12 month high of $385.30. The stock’s 50 day simple moving average is $348.40 and its two-hundred day simple moving average is $306.03. The firm has a market cap of $26.11 billion, a PE ratio of 26.72, a P/E/G ratio of 1.50 and a beta of 1.24.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CPAY. Citigroup increased their target price on Corpay from $405.00 to $430.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Morgan Stanley increased their target price on Corpay from $325.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Wells Fargo & Company increased their target price on Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Finally, Keefe, Bruyette & Woods raised their price objective on Corpay from $380.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $363.93.

Insider Buying and Selling at Corpay

In other Corpay news, Director Joseph W. Farrelly sold 2,975 shares of Corpay stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total value of $1,116,160.50. Following the completion of the transaction, the director now directly owns 10,530 shares of the company’s stock, valued at $3,950,645.40. The trade was a 22.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Alissa B. Vickery sold 8,000 shares of Corpay stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total value of $2,960,320.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,797 shares of the company’s stock, valued at approximately $664,961.88. This represents a 81.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by corporate insiders.

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.