Corpay (NYSE:CPAY) Releases FY24 Earnings Guidance

Corpay (NYSE:CPAY) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $18.90-19.10 for the period, compared to the consensus estimate of $18.96. The company issued revenue guidance of $3.98-4.01 billion, compared to the consensus revenue estimate of $3.99 billion. Corpay also updated its FY 2024 guidance to 18.900-19.100 EPS.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Barclays upped their price objective on shares of Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Keefe, Bruyette & Woods upped their price target on shares of Corpay from $380.00 to $400.00 and gave the company an “outperform” rating in a report on Friday. Jefferies Financial Group upped their price target on shares of Corpay from $375.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. William Blair raised shares of Corpay to a “strong-buy” rating in a report on Thursday, August 8th. Finally, Raymond James cut their price target on shares of Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $356.79.

Corpay Stock Up 5.6 %

Shares of CPAY traded up $19.51 during trading hours 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. The firm has a market cap of $25.41 billion, a price-to-earnings ratio of 26.11, a P/E/G ratio of 1.38 and a beta of 1.21. 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 50 day moving average of $325.93 and a two-hundred day moving average of $296.43.

Corpay (NYSE:CPAY) last issued its earnings results 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 company had revenue of $975.70 million for the quarter, compared to the consensus estimate of $973.84 million. During the same quarter in the prior year, the company earned $3.85 EPS. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, 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.