Seaport Res Ptn Comments on Copa Holdings, S.A.’s Q3 2024 Earnings (NYSE:CPA)

Copa Holdings, S.A. (NYSE:CPA) – Equities researchers at Seaport Res Ptn dropped their Q3 2024 earnings per share estimates for shares of Copa in a research report issued to clients and investors on Monday, July 22nd. Seaport Res Ptn analyst D. Mckenzie now anticipates that the transportation company will post earnings of $4.65 per share for the quarter, down from their prior estimate of $4.70. The consensus estimate for Copa’s current full-year earnings is $16.23 per share. Seaport Res Ptn also issued estimates for Copa’s Q4 2024 earnings at $4.75 EPS and FY2026 earnings at $18.50 EPS.

Other analysts have also issued reports about the company. Evercore ISI boosted their price objective on Copa from $150.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, May 17th. StockNews.com lowered Copa from a “buy” rating to a “hold” rating in a report on Wednesday, June 19th. TD Cowen reduced their target price on Copa from $160.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. Raymond James upped their target price on Copa from $165.00 to $168.00 and gave the company a “strong-buy” rating in a report on Friday, May 17th. Finally, Morgan Stanley started coverage on Copa in a report on Friday, May 24th. They issued an “overweight” rating and a $140.00 target price for the company. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $157.60.

Copa Stock Performance

Shares of CPA opened at $91.34 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.90 and a current ratio of 0.99. The stock has a 50 day moving average price of $95.81 and a two-hundred day moving average price of $98.60. The firm has a market capitalization of $3.60 billion, a P/E ratio of 6.57, a P/E/G ratio of 0.44 and a beta of 1.47. Copa has a 52 week low of $78.12 and a 52 week high of $121.20.

Copa (NYSE:CPA) last issued its quarterly earnings data on Wednesday, May 15th. The transportation company reported $4.19 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.92. The firm had revenue of $893.47 million during the quarter, compared to analyst estimates of $866.73 million. Copa had a return on equity of 36.59% and a net margin of 16.42%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.99 EPS.

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 paid a $1.61 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $6.44 annualized dividend and a yield of 7.05%. Copa’s payout ratio is 46.33%.

Hedge Funds Weigh In On Copa

Several institutional investors have recently bought and sold shares of the company. Sciencast Management LP lifted 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 during the last quarter. Hexagon Capital Partners LLC lifted its position in shares of Copa by 15.1% during the first quarter. Hexagon Capital Partners LLC now owns 776 shares of the transportation company’s stock worth $81,000 after acquiring an additional 102 shares in the last quarter. SPC Financial Inc. lifted its position in shares of Copa by 1.1% during the first quarter. SPC Financial Inc. now owns 11,845 shares of the transportation company’s stock worth $1,234,000 after acquiring an additional 130 shares in the last quarter. Coronation Fund Managers Ltd. lifted its position in shares of Copa by 11.3% during the first quarter. Coronation Fund Managers Ltd. now owns 2,763 shares of the transportation company’s stock worth $288,000 after acquiring an additional 280 shares in the last quarter. Finally, TFO Wealth Partners LLC lifted its position in shares of Copa by 34,300.0% during the fourth quarter. TFO Wealth Partners LLC now owns 344 shares of the transportation company’s stock worth $37,000 after acquiring an additional 343 shares in the last quarter. Hedge funds and other institutional investors 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 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.