Corpay (NYSE:CPAY) Issues Q4 2024 Earnings Guidance

Corpay (NYSE:CPAY) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 5.250-5.450 for the period, compared to the consensus estimate of 5.360. The company issued revenue guidance of $1.0 billion-$1.1 billion, compared to the consensus revenue estimate of $1.1 billion. Corpay also updated its FY 2024 guidance to 18.900-19.100 EPS.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Royal Bank of Canada restated a “sector perform” rating and set a $310.00 target price on shares of Corpay in a report on Thursday, August 8th. Wolfe Research upgraded Corpay from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, September 3rd. Wells Fargo & Company boosted their target price on shares of Corpay from $285.00 to $320.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Morgan Stanley raised their price target on shares of Corpay from $275.00 to $325.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Finally, Jefferies Financial Group boosted their price objective on shares of Corpay from $375.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $356.79.

Corpay Stock Performance

Shares of NYSE CPAY traded up $19.51 during mid-day trading on Friday, hitting $366.01. The stock had a trading volume of 1,210,700 shares, compared to its average volume of 486,981. The firm has a market cap of $25.41 billion, a PE ratio of 26.11, a PEG ratio of 1.38 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.02 and a current ratio of 1.02. The company has a 50 day moving average of $325.93 and a two-hundred day moving average of $296.43. Corpay has a twelve month low of $221.37 and a twelve month high of $375.35.

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