Seaport Res Ptn Has Negative Outlook of Copa FY2024 Earnings

Copa Holdings, S.A. (NYSE:CPA) – Analysts at Seaport Res Ptn cut their FY2024 earnings per share estimates for shares of Copa in a note issued to investors on Thursday, November 21st. Seaport Res Ptn analyst D. Mckenzie now forecasts that the transportation company will post earnings of $14.67 per share for the year, down from their previous estimate of $15.47. The consensus estimate for Copa’s current full-year earnings is $14.60 per share. Seaport Res Ptn also issued estimates for Copa’s Q1 2025 earnings at $5.00 EPS, Q2 2025 earnings at $3.30 EPS, Q3 2025 earnings at $3.90 EPS, Q4 2025 earnings at $4.70 EPS, FY2025 earnings at $16.90 EPS and FY2027 earnings at $19.50 EPS.

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

Copa Price Performance

CPA stock opened at $94.30 on Monday. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of 6.24, a price-to-earnings-growth ratio of 0.73 and a beta of 1.48. The stock’s fifty day simple moving average is $97.07 and its 200-day simple moving average is $94.88. Copa has a 52-week low of $80.01 and a 52-week high of $114.00. The company has a quick ratio of 0.89, a current ratio of 0.98 and a debt-to-equity ratio of 0.56.

Copa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be issued a $1.61 dividend. The ex-dividend date is Monday, December 2nd. This represents a $6.44 annualized dividend and a yield of 6.83%. Copa’s dividend payout ratio is currently 42.59%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Bell Investment Advisors Inc raised its holdings in shares of Copa by 29.6% during the 3rd quarter. Bell Investment Advisors Inc now owns 626 shares of the transportation company’s stock valued at $59,000 after buying an additional 143 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Copa during the third quarter worth $82,000. Hexagon Capital Partners LLC boosted its stake in shares of Copa by 14.9% in the second quarter. Hexagon Capital Partners LLC now owns 892 shares of the transportation company’s stock valued at $85,000 after purchasing an additional 116 shares during the period. Rhumbline Advisers grew its holdings in Copa by 69,000.0% during the 2nd quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company’s stock valued at $132,000 after purchasing an additional 1,380 shares in the last quarter. Finally, Optimist Retirement Group LLC acquired a new position in Copa in the 3rd quarter worth $240,000. 70.09% of the stock is owned by hedge funds and other institutional investors.

About Copa

Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers approximately 375 daily scheduled flights to 82 destinations in 32 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub. As of December 31, 2023, it operated a fleet of 106 aircraft comprising 76 Boeing 737-Next Generation aircraft, 29 Boeing 737 MAX 9 aircraft, and one Boeing 737-800 Boeing Converted Freighter.