Corpay (NYSE:CPAY) Releases Quarterly Earnings Results, Misses Expectations By $0.41 EPS

Corpay (NYSE:CPAY) issued its quarterly earnings data on Wednesday. The company reported $4.96 EPS for the quarter, missing the consensus estimate of $5.37 by ($0.41), Zacks reports. Corpay had a return on equity of 39.44% and a net margin of 26.14%.

Corpay Stock Performance

Shares of CPAY stock traded up $9.10 during mid-day trading on Wednesday, reaching $388.76. 666,393 shares of the company’s stock traded hands, compared to its average volume of 417,733. Corpay has a 12 month low of $247.10 and a 12 month high of $391.10. The firm has a 50 day moving average price of $361.38 and a two-hundred day moving average price of $334.84. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $27.10 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 1.30 and a beta of 1.28.

Insider Activity

In related news, CAO Alissa B. Vickery sold 8,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $370.04, for a total value of $2,960,320.00. Following the completion of the transaction, the chief accounting officer now owns 1,797 shares of the company’s stock, valued at approximately $664,961.88. This represents a 81.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joseph W. Farrelly sold 2,975 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $375.18, for a total transaction of $1,116,160.50. Following the completion of the transaction, the director now directly owns 10,530 shares of the company’s stock, valued at $3,950,645.40. This represents a 22.03 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on CPAY shares. Barclays raised their price objective on shares of Corpay from $385.00 to $415.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Wolfe Research upgraded shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 target price for the company in a report on Wednesday, January 8th. BMO Capital Markets lifted their target price on shares of Corpay from $400.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Citigroup began coverage on shares of Corpay in a research report on Tuesday, January 14th. They set a “buy” rating and a $430.00 price target for the company. Finally, Wells Fargo & Company raised their price target on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Corpay presently has a consensus rating of “Moderate Buy” and an average target price of $381.43.

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.