Corpay (NYSE:CPAY) Updates Q2 2024 Earnings Guidance

Corpay (NYSE:CPAY) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 4.450-4.550 for the period, compared to the consensus earnings per share 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 Trading Up 0.0 %

NYSE:CPAY opened at $270.34 on Thursday. The stock has a market capitalization of $19.00 billion, a PE ratio of 20.11, a P/E/G ratio of 1.04 and a beta of 1.21. The stock’s 50-day simple moving average is $277.70. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.07 and a quick ratio of 1.07. Corpay has a 12-month low of $220.39 and a 12-month high of $319.94.

Corpay (NYSE:CPAY) last released 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 during the quarter, compared to analysts’ expectations of $936.25 million. Corpay had a return on equity of 36.97% and a net margin of 26.29%. On average, research analysts predict that Corpay will post 17.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CPAY has been the subject of several research analyst reports. Barclays cut their price target on Corpay from $355.00 to $350.00 and set an overweight rating for the company in a report on Monday, May 13th. Evercore ISI lowered their price objective on Corpay from $350.00 to $345.00 and set an outperform rating for the company in a research note on Tuesday. Wolfe Research lowered Corpay from a peer perform rating to an underperform rating and set a $295.00 price objective for the company. in a research note on Friday, May 17th. Wells Fargo & Company began coverage on Corpay in a research note on Wednesday, June 5th. They issued an equal weight rating and a $285.00 price objective for the company. Finally, Robert W. Baird raised their price objective on Corpay from $355.00 to $376.00 and gave the company an outperform rating in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average 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.