Corpay, Inc. (NYSE:CPAY) Forecasted to Earn Q3 2024 Earnings of $4.67 Per Share

Corpay, Inc. (NYSE:CPAY) – Equities research analysts at Zacks Research lowered their Q3 2024 earnings per share estimates for Corpay in a research note issued to investors on Wednesday, August 28th. Zacks Research analyst R. Department now anticipates that the company will earn $4.67 per share for the quarter, down from their prior forecast of $4.82. The consensus estimate for Corpay’s current full-year earnings is $17.81 per share. Zacks Research also issued estimates for Corpay’s Q4 2024 earnings at $5.10 EPS, FY2024 earnings at $17.88 EPS, Q1 2025 earnings at $4.48 EPS, Q2 2025 earnings at $5.02 EPS, Q3 2025 earnings at $5.45 EPS, Q4 2025 earnings at $5.50 EPS, Q1 2026 earnings at $5.27 EPS, Q2 2026 earnings at $5.72 EPS and FY2026 earnings at $23.46 EPS.

A number of other equities research analysts have also commented on CPAY. William Blair upgraded shares of Corpay to a “strong-buy” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. raised their price objective on Corpay from $327.00 to $353.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. BMO Capital Markets decreased their price target on shares of Corpay from $360.00 to $350.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Evercore ISI decreased their price target on shares of Corpay from $350.00 to $345.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Finally, Raymond James cut their target price on Corpay from $330.00 to $311.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $332.50.

Corpay Stock Performance

CPAY opened at $314.37 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.74. Corpay has a 52 week low of $220.39 and a 52 week high of $319.94. The stock’s fifty day simple moving average is $286.64. The firm has a market cap of $21.83 billion, a price-to-earnings ratio of 23.39, a PEG ratio of 1.26 and a beta of 1.20.

Corpay (NYSE:CPAY) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $4.55 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $973.84 million. During the same period in the previous year, the company earned $3.85 earnings per share. The company’s quarterly revenue was up 2.9% compared to the same quarter last year.

Institutional Trading of Corpay

Institutional investors and hedge funds have recently bought and sold shares of the company. Epic Trust Investment Advisors LLC raised its holdings in Corpay by 4.1% during the 2nd quarter. Epic Trust Investment Advisors LLC now owns 998 shares of the company’s stock valued at $266,000 after buying an additional 39 shares during the period. Massmutual Trust Co. FSB ADV grew its position in Corpay by 21.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the company’s stock valued at $64,000 after buying an additional 43 shares during the period. Sequoia Financial Advisors LLC raised its stake in Corpay by 4.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,320 shares of the company’s stock valued at $352,000 after purchasing an additional 54 shares during the last quarter. Capital Insight Partners LLC lifted its position in Corpay by 2.5% during the second quarter. Capital Insight Partners LLC now owns 2,255 shares of the company’s stock worth $601,000 after buying an additional 55 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Corpay by 0.9% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,754 shares of the company’s stock valued at $2,066,000 after purchasing an additional 71 shares during the last quarter. 98.84% of the stock is currently owned by institutional investors.

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.