Copa (NYSE:CPA) Lowered to Hold at StockNews.com

StockNews.com cut shares of Copa (NYSE:CPAFree Report) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

CPA has been the subject of several other reports. Morgan Stanley assumed coverage on Copa in a report on Friday, May 24th. They issued an overweight rating and a $140.00 price target for the company. Raymond James increased their price target on Copa from $165.00 to $168.00 and gave the stock a strong-buy rating in a report on Friday, May 17th. TD Cowen lowered their price target on Copa from $160.00 to $145.00 and set a buy rating for the company in a report on Tuesday, June 18th. Finally, Evercore ISI increased their price target on Copa from $150.00 to $165.00 and gave the stock an outperform rating in a report on Friday, May 17th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus price target of $154.67.

Get Our Latest Stock Analysis on CPA

Copa Trading Down 1.1 %

NYSE:CPA opened at $94.17 on Wednesday. Copa has a 1-year low of $78.12 and a 1-year high of $121.20. The business’s 50-day moving average price is $99.81 and its two-hundred day moving average price is $100.22. The company has a current ratio of 0.99, a quick ratio of 0.90 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 6.77, a PEG ratio of 0.21 and a beta of 1.48.

Copa (NYSE:CPAGet Free Report) last released its earnings results on Wednesday, May 15th. The transportation company reported $4.19 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.92. Copa had a return on equity of 36.59% and a net margin of 16.42%. The firm had revenue of $893.47 million for the quarter, compared to analyst estimates of $866.73 million. During the same quarter in the prior year, the firm posted $3.99 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. On average, equities analysts expect that Copa will post 16.66 earnings per share for the current year.

Copa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a dividend of $1.61 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $6.44 dividend on an annualized basis and a dividend yield of 6.84%. Copa’s payout ratio is presently 46.33%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CPA. Sciencast Management LP grew its stake in Copa by 4.0% in the first quarter. Sciencast Management LP now owns 2,627 shares of the transportation company’s stock valued at $274,000 after purchasing an additional 100 shares in the last quarter. Hexagon Capital Partners LLC lifted its holdings in Copa by 15.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 776 shares of the transportation company’s stock worth $81,000 after purchasing an additional 102 shares during the last quarter. SPC Financial Inc. lifted its holdings in Copa by 1.1% during the 1st quarter. SPC Financial Inc. now owns 11,845 shares of the transportation company’s stock worth $1,234,000 after purchasing an additional 130 shares during the last quarter. Coronation Fund Managers Ltd. lifted its holdings in 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 purchasing an additional 280 shares during the last quarter. Finally, TFO Wealth Partners LLC raised its holdings in Copa by 34,300.0% in the 4th quarter. TFO Wealth Partners LLC now owns 344 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 343 shares in the last quarter. 70.09% of the stock is currently owned by institutional investors.

Copa Company Profile

(Get Free Report)

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.

Further Reading

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