Corpay (NYSE:CPAY) Issues Q4 2024 Earnings Guidance

Corpay (NYSE:CPAY) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 5.250-5.450 for the period, compared to the consensus earnings per share estimate of 5.360. The company issued revenue guidance of $1.0 billion-$1.1 billion, compared to the consensus revenue estimate of $1.1 billion. Corpay also updated its FY 2024 guidance to 18.900-19.100 EPS.

Wall Street Analyst Weigh In

Several research firms have commented on CPAY. BMO Capital Markets increased their price objective on shares of Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Bank of America increased their price target on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Royal Bank of Canada restated a “sector perform” rating and issued a $310.00 price objective on shares of Corpay in a research note on Thursday, August 8th. Morgan Stanley lifted their price objective on Corpay from $275.00 to $325.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Finally, Barclays increased their target price on shares of Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $356.79.

Corpay Price Performance

Shares of NYSE CPAY traded up $19.51 during midday trading on Friday, hitting $366.01. 1,210,700 shares of the company’s stock were exchanged, compared to its average volume of 486,981. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. The business’s fifty day moving average price is $325.93 and its two-hundred day moving average price is $296.43. The company has a market cap of $25.41 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 1.38 and a beta of 1.21. Corpay has a 12-month low of $221.37 and a 12-month high of $375.35.

Corpay (NYSE:CPAY) last issued its 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. The company had revenue of $975.70 million during the quarter, compared to analysts’ expectations of $973.84 million. Corpay had a return on equity of 38.93% and a net margin of 26.41%. Corpay’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $3.85 EPS. As a group, research analysts forecast that Corpay will post 17.96 EPS for the current fiscal 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.