Zacks Research Comments on Copa’s FY2024 Earnings (NYSE:CPA)

Copa Holdings, S.A. (NYSE:CPA) – Research analysts at Zacks Research reduced their FY2024 earnings estimates for Copa in a research note issued to investors on Wednesday, December 4th. Zacks Research analyst M. Basu now forecasts that the transportation company will earn $14.64 per share for the year, down from their previous forecast of $14.77. The consensus estimate for Copa’s current full-year earnings is $14.48 per share. Zacks Research also issued estimates for Copa’s Q1 2025 earnings at $4.90 EPS, Q2 2025 earnings at $3.29 EPS, Q2 2026 earnings at $4.14 EPS, Q3 2026 earnings at $4.29 EPS and FY2026 earnings at $17.42 EPS.

Copa (NYSE:CPA) last announced its earnings results on Wednesday, November 20th. The transportation company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.48 by $0.02. Copa had a net margin of 18.20% and a return on equity of 28.46%. The business had revenue of $854.71 million during the quarter, compared to analysts’ expectations of $864.90 million. During the same quarter in the prior year, the company posted $4.39 earnings per share. The firm’s revenue was down 1.5% on a year-over-year basis.

A number of other equities research analysts also recently weighed in on CPA. StockNews.com downgraded shares of Copa from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. lowered their price target on shares of Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a report on Thursday, August 29th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $148.83.

Copa Price Performance

NYSE:CPA opened at $88.45 on Monday. Copa has a 52 week low of $80.01 and a 52 week high of $114.00. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of 5.85, a P/E/G ratio of 0.70 and a beta of 1.45. The firm’s 50-day simple moving average is $96.78 and its 200 day simple moving average is $93.76. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.09.

Hedge Funds Weigh In On Copa

A number of large investors have recently bought and sold shares of CPA. Carrhae Capital LLP purchased a new stake in shares of Copa in the 3rd quarter worth $52,166,000. Vontobel Holding Ltd. lifted its holdings in shares of Copa by 7,848.9% in the 3rd quarter. Vontobel Holding Ltd. now owns 418,588 shares of the transportation company’s stock worth $39,280,000 after buying an additional 413,322 shares during the period. Sprucegrove Investment Management Ltd. raised its position in shares of Copa by 8.3% in the 2nd quarter. Sprucegrove Investment Management Ltd. now owns 3,086,189 shares of the transportation company’s stock worth $293,743,000 after acquiring an additional 236,850 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Copa in the 3rd quarter worth $14,094,000. Finally, Raymond James & Associates raised its position in shares of Copa by 61.4% in the 2nd quarter. Raymond James & Associates now owns 294,710 shares of the transportation company’s stock worth $28,050,000 after acquiring an additional 112,143 shares in the last quarter. Hedge funds and other institutional investors own 70.09% of the company’s stock.

Copa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 7.28%. The ex-dividend date is Monday, December 2nd. Copa’s dividend payout ratio (DPR) is 42.59%.

Copa Company Profile

Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers approximately 375 daily scheduled flights to 82 destinations in 32 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub. As of December 31, 2023, it operated a fleet of 106 aircraft comprising 76 Boeing 737-Next Generation aircraft, 29 Boeing 737 MAX 9 aircraft, and one Boeing 737-800 Boeing Converted Freighter.