Corpay (NYSE:CPAY) Issues Q4 Earnings Guidance

Corpay (NYSE:CPAY) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided EPS guidance of $5.25-5.45 for the period, compared to the consensus EPS estimate of $5.36. The company issued revenue guidance of $1.04-1.07 billion, compared to the consensus revenue estimate of $1.05 billion. Corpay also updated its FY 2024 guidance to 18.900-19.100 EPS.

Analyst Upgrades and Downgrades

CPAY has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on Corpay from $327.00 to $353.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Jefferies Financial Group upped their price target on Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company raised their price objective on shares of Corpay from $285.00 to $320.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Wolfe Research raised shares of Corpay from an “underperform” rating to a “peer perform” rating in a report on Tuesday, September 3rd. Finally, William Blair raised shares of Corpay to a “strong-buy” rating in a report on Thursday, August 8th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $353.46.

Corpay Price Performance

NYSE:CPAY traded down $2.47 during midday trading on Thursday, hitting $346.50. The company had a trading volume of 587,498 shares, compared to its average volume of 469,033. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $24.06 billion, a PE ratio of 25.26, a P/E/G ratio of 1.30 and a beta of 1.21. The stock’s fifty day moving average price is $324.21 and its 200-day moving average price is $295.70. Corpay has a 52-week low of $221.37 and a 52-week high of $355.47.

Corpay (NYSE:CPAY) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.04. The business had revenue of $975.70 million for the quarter, compared to analysts’ expectations of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the business earned $3.85 earnings per share. As a group, research analysts expect that Corpay will post 17.96 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.