Corpay (NYSE:CPAY) Releases FY 2024 Earnings Guidance

Corpay (NYSE:CPAY) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 18.800-19.200 for the period, compared to the consensus EPS estimate of 19.390. The company issued revenue guidance of $4.0 billion-$4.0 billion, compared to the consensus revenue estimate of $4.1 billion. Corpay also updated its FY24 guidance to $18.80-19.20 EPS.

Analyst Ratings Changes

CPAY has been the subject of several recent analyst reports. Barclays raised their price objective on shares of Corpay from $340.00 to $355.00 and gave the stock an overweight rating in a research report on Tuesday, April 16th. Citigroup increased their price target on Corpay from $325.00 to $355.00 and gave the company a buy rating in a research report on Wednesday, April 17th. Robert W. Baird boosted their target price on Corpay from $355.00 to $376.00 and gave the stock an outperform rating in a research note on Thursday, April 4th. Finally, Jefferies Financial Group lifted their price objective on shares of Corpay from $340.00 to $355.00 and gave the stock a buy rating in a research report on Friday, April 12th.

Corpay Price Performance

Shares of Corpay stock traded down $0.23 during trading on Wednesday, reaching $304.49. The company’s stock had a trading volume of 688,860 shares, compared to its average volume of 438,723. Corpay has a 52-week low of $220.39 and a 52-week high of $319.94. The stock has a market capitalization of $21.98 billion, a price-to-earnings ratio of 23.07, a price-to-earnings-growth ratio of 1.14 and a beta of 1.21. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.04 and a current ratio of 1.04.

Corpay (NYSE:CPAY) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $4.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.16 by $0.01. Corpay had a return on equity of 37.56% and a net margin of 26.13%. The company had revenue of $937.32 million for the quarter, compared to the consensus estimate of $968.39 million. Equities research analysts expect that Corpay will post 18.16 EPS for the current year.

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.