Corpay (NYSE:CPAY) Releases Q2 Earnings Guidance

Corpay (NYSE:CPAY) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $4.45-4.55 for the period, compared to the consensus estimate of $4.52. The company issued revenue guidance of $960-980 million, compared to the consensus revenue estimate of $976.54 million.

Corpay Stock Performance

Shares of CPAY stock opened at $267.15 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.48. Corpay has a 1 year low of $220.39 and a 1 year high of $319.94. The stock’s fifty day simple moving average is $278.80. The firm has a market cap of $18.77 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 1.04 and a beta of 1.21.

Corpay (NYSE:CPAY) last announced its quarterly earnings data 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 analyst estimates of $936.25 million. Corpay had a return on equity of 36.97% and a net margin of 26.29%. Equities research analysts predict that Corpay will post 17.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Jefferies Financial Group upped their price objective on Corpay from $340.00 to $355.00 and gave the company a buy rating in a report on Friday, April 12th. BMO Capital Markets reduced their target price on Corpay from $360.00 to $350.00 and set an outperform rating for the company in a report on Thursday, May 9th. Bank of America upped their target price on Corpay from $326.00 to $331.00 and gave the company a buy rating in a report on Friday. Wells Fargo & Company started coverage on Corpay in a report on Wednesday, June 5th. They set an equal weight rating and a $285.00 target price for the company. Finally, Barclays reduced their target price on Corpay from $355.00 to $350.00 and set an overweight rating for the company in a report on Monday, May 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $334.11.

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.