Corpay (NYSE:CPAY) Updates Q3 2024 Earnings Guidance

Corpay (NYSE:CPAY) issued an update on its third quarter 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 5.000-5.000 for the period, compared to the consensus 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.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. BMO Capital Markets boosted their price objective on shares of Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Jefferies Financial Group boosted their price target on Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley raised their price objective on Corpay from $275.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Raymond James cut their target price on Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Wells Fargo & Company raised their price target 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 equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given 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 $353.46.

Corpay Price Performance

Shares of CPAY stock traded down $1.83 on Thursday, reaching $330.05. The company had a trading volume of 175,946 shares, compared to its average volume of 466,421. The business’s 50-day moving average is $320.90 and its 200 day moving average is $294.39. Corpay has a one year low of $221.37 and a one year high of $355.47. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $23.19 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22.

Corpay (NYSE:CPAY) last issued its earnings results on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.04. The firm had revenue of $975.70 million for 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 company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $3.85 earnings per share. Equities research analysts forecast that Corpay will post 17.83 EPS for the current fiscal year.

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.