Corpay (NYSE:CPAY) Releases Q4 Earnings Guidance

Corpay (NYSE:CPAY) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $5.25-5.45 for the period, compared to the consensus estimate of $5.36. The company issued revenue guidance of $1.04-1.07 billion, compared to the consensus revenue estimate of $1.05 billion. Corpay also updated its FY 2024 guidance to 18.900-19.100 EPS.

Wall Street Analyst Weigh In

CPAY has been the topic of a number of recent research reports. BMO Capital Markets raised their target price on Corpay from $350.00 to $390.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $310.00 price objective on shares of Corpay in a report on Thursday, August 8th. Wells Fargo & Company upped their target price on shares of Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. boosted their price target on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Finally, Raymond James reduced their price objective on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Four research 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $353.46.

Corpay Stock Performance

NYSE CPAY traded down $2.47 on Thursday, hitting $346.50. 587,498 shares of the stock traded hands, compared to its average volume of 469,033. The firm has a market capitalization of $24.06 billion, a price-to-earnings ratio of 25.26, a PEG ratio of 1.30 and a beta of 1.21. The business’s fifty day moving average is $324.21 and its two-hundred day moving average is $295.70. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. Corpay has a 12 month low of $221.37 and a 12 month high of $355.47.

Corpay (NYSE:CPAY) last announced 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 analyst estimates of $973.84 million. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.85 EPS. As a group, equities analysts anticipate 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.