Corpay (NYSE:CPAY) Releases 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.

Wall Street Analysts Forecast Growth

CPAY has been the topic of several analyst reports. Morgan Stanley lifted their price target on shares of Corpay from $275.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. William Blair upgraded shares of Corpay to a “strong-buy” rating in a research report on Thursday, August 8th. Jefferies Financial Group lifted their target price on shares of Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada reissued a “sector perform” rating and set a $310.00 price target on shares of Corpay in a report on Thursday, August 8th. Finally, Raymond James lowered their price target on Corpay from $330.00 to $311.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Four investment 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. Based on data from MarketBeat.com, Corpay has a consensus rating of “Moderate Buy” and a consensus target price of $356.79.

Corpay Stock Up 5.6 %

Shares of NYSE:CPAY traded up $19.51 during trading hours on Friday, hitting $366.01. The company’s stock had a trading volume of 1,210,700 shares, compared to its average volume of 486,981. The firm’s fifty day moving average price is $325.93 and its 200 day moving average price is $296.43. Corpay has a 52 week low of $221.37 and a 52 week high of $375.35. The company has a market capitalization of $25.41 billion, a price-to-earnings ratio of 26.11, a P/E/G ratio of 1.38 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.02 and a quick ratio of 1.02.

Corpay (NYSE:CPAY) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.04. The company had revenue of $975.70 million during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm posted $3.85 EPS. As a group, research analysts expect that Corpay will post 17.96 EPS for the current year.

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.