Copa (NYSE:CPA) Shares Down 0.2%

Shares of Copa Holdings, S.A. (NYSE:CPA) dropped 0.2% during trading on Monday . The company traded as low as $88.64 and last traded at $88.77. Approximately 25,346 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 273,950 shares. The stock had previously closed at $88.96.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CPA. Morgan Stanley began coverage on shares of Copa in a research note on Friday, May 24th. They set an “overweight” rating and a $140.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. TD Cowen decreased their price objective on shares of Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. cut their target price on Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a research note on Thursday, August 29th. Finally, Evercore ISI decreased their price target on Copa from $165.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $148.83.

Copa Stock Up 1.4 %

The company has a current ratio of 0.98, a quick ratio of 0.89 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $3.56 billion, a P/E ratio of 6.39, a PEG ratio of 0.55 and a beta of 1.48. The stock has a 50 day moving average price of $89.87 and a 200 day moving average price of $96.36.

Copa (NYSE:CPA) last issued its earnings results on Wednesday, August 7th. The transportation company reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.11. Copa had a return on equity of 30.81% and a net margin of 19.31%. The business had revenue of $819.40 million during the quarter, compared to analysts’ expectations of $838.13 million. During the same quarter in the prior year, the firm earned $3.92 EPS. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, research analysts anticipate that Copa Holdings, S.A. will post 14.53 earnings per share for the current fiscal year.

Copa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $1.61 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $6.44 annualized dividend and a yield of 7.14%. Copa’s dividend payout ratio is presently 46.33%.

Hedge Funds Weigh In On Copa

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in shares of Copa by 5.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 687,771 shares of the transportation company’s stock worth $73,119,000 after purchasing an additional 38,326 shares during the period. Brandes Investment Partners LP lifted its holdings in Copa by 6.2% in the fourth quarter. Brandes Investment Partners LP now owns 444,576 shares of the transportation company’s stock valued at $47,263,000 after buying an additional 25,811 shares during the period. Hsbc Holdings PLC boosted its position in Copa by 2.4% during the fourth quarter. Hsbc Holdings PLC now owns 78,135 shares of the transportation company’s stock valued at $8,321,000 after acquiring an additional 1,799 shares during the last quarter. Steward Partners Investment Advisory LLC grew its holdings in Copa by 45.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,858 shares of the transportation company’s stock worth $198,000 after acquiring an additional 584 shares during the period. Finally, TFO Wealth Partners LLC grew its holdings in Copa by 34,300.0% during the 4th quarter. TFO Wealth Partners LLC now owns 344 shares of the transportation company’s stock worth $37,000 after acquiring an additional 343 shares during the period. 70.09% of the stock is currently owned by institutional investors and hedge funds.

About Copa

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.