Corpay (NYSE:CPAY) Releases FY 2024 Earnings Guidance

Corpay (NYSE:CPAYGet Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 18.900-19.100 for the period, compared to the consensus EPS estimate of 18.960. The company issued revenue guidance of $4.0 billion-$4.0 billion, compared to the consensus revenue estimate of $4.0 billion. Corpay also updated its FY24 guidance to $18.90-19.10 EPS.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. BMO Capital Markets raised 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. Keefe, Bruyette & Woods lifted their price target on shares of Corpay from $380.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday. Raymond James cut their price objective on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Corpay currently has an average rating of “Moderate Buy” and a consensus price target of $356.79.

Get Our Latest Report on Corpay

Corpay Stock Up 5.6 %

NYSE CPAY traded up $19.51 on Friday, hitting $366.01. 1,210,700 shares of the company were exchanged, compared to its average volume of 486,981. The company has a market cap of $25.41 billion, a PE 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. The stock has a fifty day moving average of $325.93 and a 200-day moving average of $296.43. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74.

Corpay (NYSE:CPAYGet Free Report) last released its quarterly earnings data 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. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The firm had revenue of $975.70 million for the quarter, compared to analyst estimates of $973.84 million. During the same period last year, the firm earned $3.85 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, analysts forecast that Corpay will post 17.96 earnings per share for the current year.

Corpay Company Profile

(Get Free Report)

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.

Recommended Stories

Earnings History and Estimates for Corpay (NYSE:CPAY)

Receive News & Ratings for Corpay Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corpay and related companies with MarketBeat.com's FREE daily email newsletter.