Corpay (NYSE:CPAY) Issues Q3 2024 Earnings Guidance

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

Corpay Stock Down 2.0 %

CPAY stock opened at $332.02 on Wednesday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $23.33 billion, a P/E ratio of 24.70, a P/E/G ratio of 1.39 and a beta of 1.22. The business has a 50-day moving average of $320.15 and a 200-day moving average of $294.12. Corpay has a fifty-two week low of $220.39 and a fifty-two week high of $355.47.

Corpay (NYSE:CPAY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 earnings per share for the quarter, topping 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 revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.85 earnings per share. On average, sell-side analysts anticipate that Corpay will post 17.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CPAY has been the subject of several recent research reports. BMO Capital Markets upped their price objective on Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Morgan Stanley increased their price target on Corpay from $275.00 to $325.00 and gave the company an “equal weight” rating in a research report on Tuesday. Jefferies Financial Group increased their price target on Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price target on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $310.00 price target on shares of Corpay in a research report on Thursday, August 8th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $353.46.

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.