Copa (NYSE:CPA) Announces Quarterly Earnings Results

Copa (NYSE:CPA) issued its earnings results on Thursday. The transportation company reported $4.39 EPS for the quarter, beating the consensus estimate of $3.62 by $0.77, Briefing.com reports. Copa had a net margin of 12.07% and a return on equity of 42.85%. The firm had revenue of $867.71 million during the quarter, compared to the consensus estimate of $870.57 million. During the same quarter in the prior year, the firm earned $2.91 earnings per share. The business’s quarterly revenue was up 7.2% on a year-over-year basis.

Copa Stock Up 0.2 %

NYSE:CPA opened at $95.15 on Friday. Copa has a twelve month low of $78.12 and a twelve month high of $121.20. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of 9.09, a price-to-earnings-growth ratio of 0.33 and a beta of 1.37. The company has a quick ratio of 0.68, a current ratio of 0.74 and a debt-to-equity ratio of 0.71. The stock’s 50 day moving average price is $87.39 and its two-hundred day moving average price is $99.94.

Copa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $3.28 annualized dividend and a yield of 3.45%. Copa’s dividend payout ratio (DPR) is presently 31.36%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in Copa by 2.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,925 shares of the transportation company’s stock valued at $362,000 after acquiring an additional 110 shares during the period. Advisor Group Holdings Inc. lifted its stake in shares of Copa by 16.2% during the 1st quarter. Advisor Group Holdings Inc. now owns 1,083 shares of the transportation company’s stock worth $92,000 after buying an additional 151 shares during the last quarter. State of Wyoming acquired a new position in Copa in the 4th quarter valued at about $32,000. Captrust Financial Advisors raised its holdings in Copa by 136.8% in the 1st quarter. Captrust Financial Advisors now owns 689 shares of the transportation company’s stock valued at $58,000 after acquiring an additional 398 shares during the period. Finally, Advisory Services Network LLC raised its holdings in Copa by 1,560.7% in the 1st quarter. Advisory Services Network LLC now owns 465 shares of the transportation company’s stock valued at $43,000 after acquiring an additional 437 shares during the period. Institutional investors own 81.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CPA shares. Raymond James upped their target price on shares of Copa from $152.00 to $155.00 and gave the company a “strong-buy” rating in a research note on Friday. JPMorgan Chase & Co. boosted their price objective on shares of Copa from $160.00 to $170.00 in a research report on Monday, September 18th. TD Cowen lowered their target price on Copa from $130.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, August 11th. StockNews.com assumed coverage on Copa in a research report on Thursday, October 5th. They set a “hold” rating for the company. Finally, TheStreet lowered Copa from a “b-” rating to a “c+” rating in a research report on Wednesday, November 1st. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $135.89.

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.