Corpay (NYSE:CPAY) Issues 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.

Analyst Ratings Changes

CPAY has been the subject of several recent analyst reports. Wells Fargo & Company increased their price objective on shares of Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Raymond James cut their price objective on Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Bank of America lifted their target price on Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $310.00 price objective on shares of Corpay in a research report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $356.79.

Corpay Stock Up 5.6 %

Shares of CPAY stock traded up $19.51 on Friday, hitting $366.01. The company’s stock had a trading volume of 1,210,700 shares, compared to its average volume of 486,981. 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 $25.41 billion, a price-to-earnings ratio of 26.11, a P/E/G ratio of 1.38 and a beta of 1.21. Corpay has a fifty-two week low of $221.37 and a fifty-two week high of $375.35. The firm’s fifty day moving average price is $325.93 and its 200-day moving average price is $296.43.

Corpay (NYSE:CPAY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.04. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The business had revenue of $975.70 million for the quarter, compared to analyst estimates of $973.84 million. During the same quarter in the prior year, the firm posted $3.85 EPS. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. Research analysts anticipate that Corpay will post 17.96 EPS 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.