Corpay (NYSE:CPAY) Releases Q2 2024 Earnings Guidance

Corpay (NYSE:CPAY) updated its second quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 4.450-4.550 for the period, compared to the consensus EPS estimate of 4.760. The company issued revenue guidance of $960.0 million-$980.0 million, compared to the consensus revenue estimate of $1.0 billion. Corpay also updated its FY 2024 guidance to 18.800-19.200 EPS.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CPAY shares. Jefferies Financial Group lifted their price target on shares of Corpay from $340.00 to $355.00 and gave the company a buy rating in a report on Friday, April 12th. Robert W. Baird lifted their price objective on shares of Corpay from $355.00 to $376.00 and gave the company an outperform rating in a research report on Thursday, April 4th. Citigroup boosted their price target on shares of Corpay from $325.00 to $355.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. Finally, Barclays lifted their target price on Corpay from $340.00 to $355.00 and gave the stock an overweight rating in a report on Tuesday, April 16th.

Corpay Stock Performance

Corpay stock traded down $0.23 during midday trading on Wednesday, reaching $304.49. The stock had a trading volume of 688,860 shares, compared to its average volume of 438,723. The firm has a market capitalization of $21.98 billion, a P/E ratio of 23.07, a price-to-earnings-growth ratio of 1.14 and a beta of 1.21. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.04 and a quick ratio of 1.04. Corpay has a 52-week low of $220.39 and a 52-week high of $319.94.

Corpay (NYSE:CPAY) last issued its earnings results on Wednesday, February 7th. The company reported $4.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.16 by $0.01. Corpay had a net margin of 26.13% and a return on equity of 37.56%. The firm had revenue of $937.32 million during the quarter, compared to analyst estimates of $968.39 million. Research analysts forecast that Corpay will post 18.16 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.