Corpay (NYSE:CPAY) Issues Q3 2024 Earnings Guidance

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CPAY shares. Jefferies Financial Group upped their price objective on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target on shares of Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Morgan Stanley raised their price objective on Corpay from $275.00 to $325.00 and gave the company an “equal weight” rating in a report on Tuesday. Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, September 3rd. 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 report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $353.46.

Corpay Stock Down 2.0 %

Shares of NYSE:CPAY opened at $332.02 on Wednesday. The company has a market capitalization of $23.33 billion, a price-to-earnings ratio of 24.70, a P/E/G ratio of 1.39 and a beta of 1.22. 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 business’s 50-day moving average is $320.15 and its 200-day moving average is $294.12. Corpay has a 1 year low of $220.39 and a 1 year high of $355.47.

Corpay (NYSE:CPAY) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.04. The company had revenue of $975.70 million for the quarter, compared to the consensus estimate of $973.84 million. Corpay had a return on equity of 38.93% and a net margin of 26.41%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.85 EPS. Equities research analysts predict that Corpay will post 17.83 earnings per share 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.