Corpay (NYSE:CPAY) Releases Earnings Results, Misses Expectations By $0.41 EPS

Corpay (NYSE:CPAY) posted its quarterly earnings data on Wednesday. The company reported $4.96 EPS for the quarter, missing the consensus estimate of $5.37 by ($0.41), Zacks reports. Corpay had a return on equity of 39.44% and a net margin of 26.14%.

Corpay Trading Up 2.4 %

Shares of NYSE:CPAY traded up $9.10 during trading on Wednesday, reaching $388.76. 667,586 shares of the company were exchanged, compared to its average volume of 421,355. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.05 and a quick ratio of 1.05. The business’s fifty day simple moving average is $361.38 and its 200-day simple moving average is $334.84. The firm has a market capitalization of $27.10 billion, a PE ratio of 27.73, a P/E/G ratio of 1.30 and a beta of 1.28. Corpay has a 12-month low of $247.10 and a 12-month high of $391.10.

Insiders Place Their Bets

In related news, Director Joseph W. Farrelly sold 2,975 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the completion of the sale, the director now directly owns 10,530 shares in the company, valued at $3,950,645.40. This represents a 22.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Alissa B. Vickery sold 8,000 shares of Corpay stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total value of $2,960,320.00. Following the completion of the transaction, the chief accounting officer now owns 1,797 shares in the company, valued at $664,961.88. This trade represents a 81.66 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

CPAY has been the topic of a number of analyst reports. Bank of America lifted their price objective on Corpay from $344.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. BMO Capital Markets lifted their target price on Corpay from $400.00 to $440.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Wolfe Research upgraded Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price for the company in a research report on Wednesday, January 8th. Jefferies Financial Group boosted their price target 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. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Corpay from $425.00 to $415.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $381.43.

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.