Copa (NYSE:CPA) Shares Up 2.6%

Copa Holdings, S.A. (NYSE:CPA)’s stock price was up 2.6% on Tuesday . The company traded as high as $92.71 and last traded at $92.46. Approximately 26,723 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 273,633 shares. The stock had previously closed at $90.14.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a report on Thursday, August 29th. Evercore ISI cut their price target on Copa from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. TD Cowen reduced their target price on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a report on Friday, August 9th. StockNews.com lowered Copa from a “buy” rating to a “hold” rating in a report on Wednesday, June 19th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $148.83.

Copa Price Performance

The company has a quick ratio of 0.89, a current ratio of 0.98 and a debt-to-equity ratio of 0.56. The business has a fifty day moving average of $89.69 and a 200 day moving average of $96.21. The firm has a market cap of $3.62 billion, a P/E ratio of 6.60, a PEG ratio of 0.55 and a beta of 1.48.

Copa (NYSE:CPA) last posted its earnings results on Wednesday, August 7th. The transportation company reported $2.88 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.11. Copa had a return on equity of 30.81% and a net margin of 19.31%. The business had revenue of $819.40 million for the quarter, compared to analyst estimates of $838.13 million. During the same period in the previous year, the firm earned $3.92 EPS. The firm’s revenue was up 1.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Copa Holdings, S.A. will post 14.53 earnings per share for the current year.

Copa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $1.61 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $6.44 annualized dividend and a yield of 7.02%. Copa’s dividend payout ratio is currently 46.33%.

Institutional Investors Weigh In On Copa

A number of institutional investors have recently modified their holdings of CPA. Sciencast Management LP raised its holdings in Copa by 4.0% in the 1st quarter. Sciencast Management LP now owns 2,627 shares of the transportation company’s stock valued at $274,000 after acquiring an additional 100 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in Copa by 15.1% in the 1st quarter. Hexagon Capital Partners LLC now owns 776 shares of the transportation company’s stock valued at $81,000 after buying an additional 102 shares during the period. SPC Financial Inc. raised its position in shares of Copa by 1.1% in the 1st quarter. SPC Financial Inc. now owns 11,845 shares of the transportation company’s stock valued at $1,234,000 after buying an additional 130 shares in the last quarter. Coronation Fund Managers Ltd. lifted its holdings in shares of Copa by 11.3% during the 1st quarter. Coronation Fund Managers Ltd. now owns 2,763 shares of the transportation company’s stock worth $288,000 after acquiring an additional 280 shares during the period. Finally, Carson Advisory Inc. lifted its holdings in shares of Copa by 9.1% during the 2nd quarter. Carson Advisory Inc. now owns 3,696 shares of the transportation company’s stock worth $352,000 after acquiring an additional 308 shares during the period. Institutional investors own 70.09% of the company’s stock.

Copa Company Profile

Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers approximately 327 daily scheduled flights to 78 destinations in 32 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub. As of December 31, 2022, it operated a fleet of 97 aircraft comprising 67 Boeing 737-800 Next Generation aircraft, 9 Boeing 737-700 Next Generation aircraft, 1 Boeing 737-800 Boeing Converted Freighter, and 20 737-MAX aircraft.