Corpay (NYSE:CPAY) Releases Q3 2024 Earnings Guidance

Corpay (NYSE:CPAY) updated its third quarter 2024 earnings guidance on Monday. The company provided earnings per share guidance of 5.000-5.000 for the period, compared to the consensus earnings per share 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.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Jefferies Financial Group lifted 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. JPMorgan Chase & Co. upped their price objective on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Barclays increased their target price on Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research note on Monday. Royal Bank of Canada restated a “sector perform” rating and set a $310.00 target price on shares of Corpay in a research report on Thursday, August 8th. Finally, Bank of America increased their price target on shares of Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Four equities 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 company’s stock. Based on data from MarketBeat.com, Corpay currently has a consensus rating of “Moderate Buy” and an average price target of $353.46.

Corpay Stock Down 0.6 %

Shares of NYSE CPAY traded down $1.83 during mid-day trading on Thursday, hitting $330.05. The company had a trading volume of 175,946 shares, compared to its average volume of 466,421. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. The firm has a 50-day simple moving average of $320.90 and a two-hundred day simple moving average of $294.39. The company has a market capitalization of $23.19 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22. Corpay has a one year low of $221.37 and a one year high of $355.47.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, beating the consensus estimate of $4.51 by $0.04. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The company had revenue of $975.70 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. On average, equities analysts expect that Corpay will post 17.83 EPS for the current year.

Corpay Company Profile

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.