Corpay (NYSE:CPAY) Issues Q2 2024 Earnings Guidance

Corpay (NYSE:CPAY) issued an update on its second quarter 2024 earnings guidance on Thursday morning. 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 Down 1.1 %

Shares of NYSE CPAY opened at $266.41 on Friday. The company’s 50 day moving average price is $276.65. Corpay has a 52-week low of $220.39 and a 52-week high of $319.94. The firm has a market capitalization of $18.72 billion, a PE ratio of 19.82, a P/E/G ratio of 1.03 and a beta of 1.21. 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 (NYSE:CPAY) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.04. The firm had revenue of $935.25 million for 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, analysts anticipate that Corpay will post 17.83 EPS for the current year.

Analyst Ratings Changes

CPAY has been the subject of a number of recent analyst reports. Barclays decreased their price objective on Corpay from $355.00 to $350.00 and set an overweight rating for the company in a report on Monday, May 13th. Royal Bank of Canada reissued a sector perform rating and set a $310.00 price objective on shares of Corpay in a research note on Friday, June 21st. Wolfe Research lowered shares of 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. Jefferies Financial Group raised their price target on shares of Corpay from $340.00 to $355.00 and gave the stock a buy rating in a report on Friday, April 12th. Finally, Robert W. Baird lifted their price objective on Corpay from $355.00 to $376.00 and gave the company an outperform rating in a research report 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $335.20.

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.