Corpay (NYSE:CPAY) Issues FY24 Earnings Guidance

Corpay (NYSE:CPAY) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $18.80-19.20 for the period, compared to the consensus estimate of $19.39. The company issued revenue guidance of $3.96-4.04 billion, compared to the consensus revenue estimate of $4.08 billion.

Corpay Stock Performance

Shares of Corpay stock traded down $0.23 during trading on Wednesday, hitting $304.49. 688,860 shares of the stock traded hands, 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 firm has a market cap of $21.98 billion, a P/E ratio of 23.07, a P/E/G ratio of 1.14 and a beta of 1.21. Corpay has a 52-week low of $220.39 and a 52-week high of $319.94.

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

Analyst Ratings Changes

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

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.