Corpay (NYSE:CPAY) Releases Q4 Earnings Guidance

Corpay (NYSE:CPAY) updated its fourth quarter earnings guidance on Thursday. 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.

Corpay Stock Up 5.6 %

Shares of CPAY traded up $19.51 during mid-day trading on Friday, reaching $366.01. The company’s stock had a trading volume of 1,210,700 shares, compared to its average volume of 486,981. Corpay has a 1 year low of $221.37 and a 1 year high of $375.35. 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 cap of $25.41 billion, a price-to-earnings ratio of 26.11, a price-to-earnings-growth ratio of 1.38 and a beta of 1.21. The business has a fifty day moving average of $325.93 and a 200 day moving average of $296.43.

Corpay (NYSE:CPAY) last announced 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 firm had revenue of $975.70 million during the quarter, compared to analysts’ expectations of $973.84 million. Corpay had a net margin of 26.41% and a return on equity of 38.93%. 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 earned $3.85 earnings per share. As a group, analysts forecast that Corpay will post 17.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CPAY. JPMorgan Chase & Co. upped their target price on shares of Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Keefe, Bruyette & Woods raised their price target on shares of Corpay from $380.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday. BMO Capital Markets lifted their target price on shares of Corpay from $350.00 to $390.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Raymond James decreased their price target on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Morgan Stanley boosted their price target on shares of Corpay from $275.00 to $325.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $356.79.

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.