Zacks Research Has Negative Outlook of Copa FY2024 Earnings

Copa Holdings, S.A. (NYSE:CPA) – Zacks Research dropped their FY2024 earnings per share (EPS) estimates for Copa in a research report issued to clients and investors on Wednesday, December 4th. Zacks Research analyst M. Basu now expects that the transportation company will post earnings per share of $14.64 for the year, down from their previous forecast of $14.77. The consensus estimate for Copa’s current full-year earnings is $14.48 per share. Zacks Research also issued estimates for Copa’s Q1 2025 earnings at $4.90 EPS, Q2 2025 earnings at $3.29 EPS, Q2 2026 earnings at $4.14 EPS, Q3 2026 earnings at $4.29 EPS and FY2026 earnings at $17.42 EPS.

A number of other brokerages also recently weighed in on CPA. 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 research report on Thursday, August 29th. StockNews.com cut Copa from a “buy” rating to a “hold” rating in a report on Monday, November 25th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $148.83.

Copa Stock Performance

Shares of NYSE CPA opened at $87.62 on Monday. The company has a market capitalization of $3.45 billion, a PE ratio of 5.79, a price-to-earnings-growth ratio of 0.70 and a beta of 1.45. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.09. The company’s fifty day moving average price is $96.86 and its 200 day moving average price is $93.85. Copa has a 1 year low of $80.01 and a 1 year high of $114.00.

Copa (NYSE:CPA) last issued its quarterly earnings data on Wednesday, November 20th. The transportation company reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02. The business had revenue of $854.71 million for the quarter, compared to analysts’ expectations of $864.90 million. Copa had a net margin of 18.20% and a return on equity of 28.46%. The business’s revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the company earned $4.39 EPS.

Copa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.61 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $6.44 dividend on an annualized basis and a dividend yield of 7.35%. Copa’s dividend payout ratio is currently 42.59%.

Hedge Funds Weigh In On Copa

A number of hedge funds have recently made changes to their positions in the company. Bell Investment Advisors Inc boosted its stake in shares of Copa by 29.6% in the third quarter. Bell Investment Advisors Inc now owns 626 shares of the transportation company’s stock worth $59,000 after acquiring an additional 143 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in Copa in the 3rd quarter valued at $82,000. Rhumbline Advisers boosted its stake in Copa by 69,000.0% during the 2nd quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company’s stock worth $132,000 after purchasing an additional 1,380 shares during the last quarter. Optimist Retirement Group LLC purchased a new stake in shares of Copa during the third quarter worth $240,000. Finally, Mackenzie Financial Corp raised its position in shares of Copa by 29.3% in the second quarter. Mackenzie Financial Corp now owns 2,690 shares of the transportation company’s stock valued at $256,000 after buying an additional 610 shares during the last quarter. Institutional investors and hedge funds 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 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.