Corpay (NYSE:CPAY) Issues Earnings Results

Corpay (NYSE:CPAY) announced its quarterly earnings results on Wednesday. The company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.04, Briefing.com reports. 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 26.29% and a return on equity of 36.97%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the company posted $3.85 earnings per share.

Corpay Stock Performance

NYSE:CPAY traded down $0.69 during mid-day trading on Wednesday, reaching $270.28. 496,671 shares of the company’s stock were exchanged, compared to its average volume of 467,541. Corpay has a one year low of $220.39 and a one year high of $319.94. The stock has a market capitalization of $18.99 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 1.09 and a beta of 1.20. The business’s fifty day moving average is $272.16. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.48.

Analysts Set New Price Targets

CPAY has been the subject of a number of recent analyst reports. Barclays cut their price target on shares of Corpay from $355.00 to $350.00 and set an “overweight” rating for the company in a research note on Monday, May 13th. Citigroup raised their target price 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. Wells Fargo & Company began coverage on shares of Corpay in a research note on Wednesday, June 5th. They set an “equal weight” rating and a $285.00 target price for the company. Wolfe Research cut shares of Corpay from a “peer perform” rating to an “underperform” rating and set a $295.00 target price for the company. in a research note on Friday, May 17th. Finally, Jefferies Financial Group raised their target price on shares of Corpay from $295.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Corpay presently has an average rating of “Moderate Buy” and a consensus price target of $333.91.

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.