Corpay (NYSE:CPAY) Issues FY24 Earnings Guidance

Corpay (NYSE:CPAY) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $18.90-19.10 for the period, compared to the consensus EPS estimate of $18.96. The company issued revenue guidance of $3.98-4.01 billion, compared to the consensus revenue estimate of $3.99 billion. Corpay also updated its FY 2024 guidance to 18.900-19.100 EPS.

Analyst Ratings Changes

Several brokerages recently commented on CPAY. Wolfe Research raised Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $310.00 price objective on shares of Corpay in a research note on Thursday, August 8th. Barclays lifted their target price on shares of Corpay from $385.00 to $415.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Morgan Stanley increased their price target on Corpay from $275.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Finally, Raymond James reduced their price objective on Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Corpay has an average rating of “Moderate Buy” and an average price target of $356.79.

Corpay Stock Performance

Shares of CPAY traded up $19.51 during mid-day trading on Friday, reaching $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 current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.74. The stock has a market cap of $25.41 billion, a P/E ratio of 26.11, a PEG ratio of 1.38 and a beta of 1.21. Corpay has a 1-year low of $221.37 and a 1-year high of $375.35. The business has a 50-day simple moving average of $325.93 and a two-hundred day simple moving average of $296.43.

Corpay (NYSE:CPAY) last released its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.04. The firm had revenue of $975.70 million during the quarter, compared to analysts’ expectations of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $3.85 earnings per share. As a group, equities research analysts anticipate that Corpay will post 17.96 earnings per share 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.