Corpay (NYSE:CPAY) Updates Q4 2024 Earnings Guidance

Corpay (NYSE:CPAY) updated its fourth quarter 2024 earnings guidance on Thursday. 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.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CPAY shares. Morgan Stanley raised their price objective on shares of Corpay from $275.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Barclays raised their price objective 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. Wells Fargo & Company raised their target price on shares of Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. BMO Capital Markets raised their target price on shares of Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Finally, Jefferies Financial Group raised their target price on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $356.79.

Corpay Price Performance

NYSE:CPAY traded up $19.51 during mid-day trading on Friday, reaching $366.01. The stock had a trading volume of 1,210,700 shares, compared to its average volume of 486,981. The stock has a 50-day simple moving average of $325.93 and a two-hundred day simple moving average of $296.43. The stock has a market capitalization of $25.41 billion, a PE ratio of 26.11, a P/E/G ratio of 1.38 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02. Corpay has a 12 month low of $221.37 and a 12 month high of $375.35.

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