Corpay (NYSE:CPAY) Issues Q2 2024 Earnings Guidance

Corpay (NYSE:CPAY) updated its second quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 4.450-4.550 for the period, compared to the consensus EPS estimate of 4.500. The company issued revenue guidance of $960.0 million-$980.0 million, compared to the consensus revenue estimate of $973.7 million.

Corpay Stock Performance

Corpay stock opened at $266.41 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.48. The company’s 50-day moving average price is $276.65. The stock has a market cap of $18.72 billion, a P/E ratio of 19.82, a PEG ratio of 1.03 and a beta of 1.21. Corpay has a fifty-two week low of $220.39 and a fifty-two week high of $319.94.

Corpay (NYSE:CPAY) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $3.84 earnings per share for the quarter, beating the consensus estimate of $3.80 by $0.04. The business had revenue of $935.25 million for the quarter, compared to the consensus estimate of $936.25 million. Corpay had a return on equity of 36.97% and a net margin of 26.29%. As a group, analysts predict that Corpay will post 17.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CPAY has been the topic of several research analyst reports. Barclays dropped their price target on Corpay from $355.00 to $350.00 and set an overweight rating on the stock in a research note on Monday, May 13th. Wolfe Research downgraded Corpay from a peer perform rating to an underperform rating and set a $295.00 target price on the stock. in a research note on Friday, May 17th. Wells Fargo & Company started coverage on Corpay in a research report on Wednesday, June 5th. They set an equal weight rating and a $285.00 price target on the stock. Citigroup increased their price target on Corpay from $325.00 to $355.00 and gave the stock a buy rating in a research report on Wednesday, April 17th. Finally, Bank of America increased their price target on Corpay from $326.00 to $331.00 and gave the stock a buy rating in a research report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $335.20.

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.