Zacks Research Comments on Corpay, Inc.’s Q2 2024 Earnings (NYSE:CPAY)

Corpay, Inc. (NYSE:CPAY) – Equities researchers at Zacks Research lowered their Q2 2024 EPS estimates for Corpay in a research note issued to investors on Monday, July 22nd. Zacks Research analyst R. Department now expects that the company will earn $4.19 per share for the quarter, down from their previous estimate of $4.20. The consensus estimate for Corpay’s current full-year earnings is $17.82 per share. Zacks Research also issued estimates for Corpay’s Q3 2024 earnings at $4.82 EPS, FY2024 earnings at $17.80 EPS, Q1 2025 earnings at $4.38 EPS, FY2025 earnings at $20.45 EPS and Q1 2026 earnings at $5.19 EPS.

Several other research firms have also issued reports on CPAY. Wolfe Research lowered shares of 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. JPMorgan Chase & Co. lowered their target price on shares of Corpay from $330.00 to $326.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Royal Bank of Canada reissued a “sector perform” rating and set a $310.00 target price on shares of Corpay in a research note on Friday, June 21st. Robert W. Baird increased their target price on shares of Corpay from $355.00 to $376.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Finally, Jefferies Financial Group raised their price target on shares of Corpay from $295.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $333.91.

Corpay Stock Down 0.1 %

CPAY stock opened at $285.56 on Wednesday. The stock’s 50-day moving average price is $270.19. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.07 and a current ratio of 1.07. Corpay has a 52-week low of $220.39 and a 52-week high of $319.94. The stock has a market cap of $20.07 billion, a price-to-earnings ratio of 21.25, a P/E/G ratio of 1.11 and a beta of 1.20.

Corpay (NYSE:CPAY) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.80 by $0.04. Corpay had a net margin of 26.29% and a return on equity of 36.97%. The company had revenue of $935.25 million for the quarter, compared to analyst estimates of $936.25 million.

Institutional Trading of Corpay

A number of hedge funds have recently bought and sold shares of CPAY. Global Retirement Partners LLC acquired a new stake in Corpay in the 1st quarter valued at about $25,000. Headlands Technologies LLC acquired a new stake in Corpay in the 1st quarter valued at about $31,000. Sunbelt Securities Inc. acquired a new stake in Corpay in the 1st quarter valued at about $34,000. RFP Financial Group LLC acquired a new stake in Corpay in the 1st quarter valued at about $35,000. Finally, Blue Trust Inc. raised its holdings in Corpay by 246.2% in the 2nd quarter. Blue Trust Inc. now owns 135 shares of the company’s stock valued at $36,000 after acquiring an additional 96 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

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.