Corpay (NYSE:CPAY) Releases Q2 2024 Earnings Guidance

Corpay (NYSE:CPAY) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 4.450-4.550 for the period, compared to the consensus EPS estimate of 4.760. The company issued revenue guidance of $960.0 million-$980.0 million, compared to the consensus revenue estimate of $1.0 billion. Corpay also updated its FY 2024 guidance to 18.800-19.200 EPS.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CPAY. Jefferies Financial Group increased their target price on shares of Corpay from $340.00 to $355.00 and gave the company a buy rating in a research note on Friday, April 12th. Robert W. Baird increased their price target on Corpay from $355.00 to $376.00 and gave the company an outperform rating in a research report on Thursday, April 4th. Citigroup lifted their price objective on shares of Corpay from $325.00 to $355.00 and gave the stock a buy rating in a research report on Wednesday, April 17th. Finally, Barclays upped their target price on Corpay from $340.00 to $355.00 and gave the company an overweight rating in a report on Tuesday, April 16th.

Corpay Trading Down 0.1 %

NYSE:CPAY traded down $0.23 during trading hours 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. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $21.98 billion, a PE ratio of 23.07, a P/E/G ratio of 1.14 and a beta of 1.21. Corpay has a one year low of $220.39 and a one year high of $319.94.

Corpay (NYSE:CPAY) last announced its earnings results on Wednesday, February 7th. The company reported $4.17 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $937.32 million during the quarter, compared to analysts’ expectations of $968.39 million. Analysts expect that Corpay will post 18.16 EPS for the current fiscal year.

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.