Copa (NYSE:CPA) Posts Earnings Results, Beats Estimates By $0.77 EPS

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

Copa Stock Up 0.2 %

Shares of Copa stock opened at $95.12 on Friday. The stock has a market capitalization of $3.75 billion, a P/E ratio of 9.09, a PEG 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 has a 50 day moving average price of $87.39 and a two-hundred day moving average price of $99.94. Copa has a 12-month low of $78.12 and a 12-month high of $121.20.

Copa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders 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 dividend on an annualized basis and a yield of 3.45%. Copa’s payout ratio is currently 31.36%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CPA. TheStreet downgraded Copa from a “b-” rating to a “c+” rating in a report on Wednesday, November 1st. TD Cowen dropped their price objective on Copa from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, August 11th. StockNews.com started coverage on Copa in a report on Thursday, October 5th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. increased their price objective on Copa from $160.00 to $170.00 in a report on Monday, September 18th. Finally, Raymond James increased their price objective on Copa from $152.00 to $155.00 and gave the stock a “strong-buy” rating in a report on Friday. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Copa presently has an average rating of “Buy” and a consensus price target of $135.89.

Institutional Investors Weigh In On Copa

A number of large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its position in Copa by 2.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,925 shares of the transportation company’s stock worth $362,000 after purchasing an additional 110 shares during the period. Advisor Group Holdings Inc. boosted its position in Copa by 16.2% during the first quarter. Advisor Group Holdings Inc. now owns 1,083 shares of the transportation company’s stock worth $92,000 after purchasing an additional 151 shares during the period. State of Wyoming bought a new stake in shares of Copa in the fourth quarter valued at approximately $32,000. Captrust Financial Advisors boosted its position in shares of Copa by 136.8% in the first 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 boosted its position in shares of Copa by 1,560.7% in the first 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.

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.