Corpay (NYSE:CPAY) Updates FY 2024 Earnings Guidance

Corpay (NYSE:CPAY) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 18.900-19.100 for the period, compared to the consensus earnings per share estimate of 18.960. The company issued revenue guidance of $4.0 billion-$4.0 billion, compared to the consensus revenue estimate of $4.0 billion. Corpay also updated its FY24 guidance to $18.90-19.10 EPS.

Corpay Trading Up 5.6 %

NYSE CPAY traded up $19.51 during trading on Friday, hitting $366.01. The company 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. Corpay has a one year low of $221.37 and a one year high of $375.35. The company has a market cap of $25.41 billion, a price-to-earnings ratio of 26.11, a price-to-earnings-growth ratio of 1.38 and a beta of 1.21. The company’s fifty day moving average is $325.93 and its 200-day moving average 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, topping the consensus estimate of $4.51 by $0.04. The business had revenue of $975.70 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business earned $3.85 EPS. On average, sell-side analysts predict that Corpay will post 17.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CPAY has been the subject of several research reports. Bank of America increased their price target on shares of Corpay from $344.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $310.00 price target on shares of Corpay in a research note on Thursday, August 8th. Barclays increased their price target on shares of Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. William Blair raised shares of Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Finally, Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Corpay has an average rating of “Moderate Buy” and an average target price of $356.79.

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.