Copa (NYSE:CPA) Shares Gap Down – What’s Next?

Copa Holdings, S.A. (NYSE:CPA)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $88.87, but opened at $86.70. Copa shares last traded at $87.02, with a volume of 45,292 shares trading hands.

Wall Street Analyst Weigh In

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

Copa Stock Up 0.3 %

The business’s fifty day moving average is $95.34 and its two-hundred day moving average is $93.03. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.56. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of 5.86, a PEG ratio of 0.72 and a beta of 1.45.

Copa (NYSE:CPA) last issued its quarterly earnings results on Wednesday, November 20th. The transportation company reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.48 by $0.02. Copa had a return on equity of 28.46% and a net margin of 18.20%. The company had revenue of $854.71 million for the quarter, compared to the consensus estimate of $864.90 million. During the same quarter in the prior year, the business earned $4.39 EPS. Copa’s revenue was down 1.5% on a year-over-year basis. Equities analysts forecast that Copa Holdings, S.A. will post 14.48 earnings per share for the current fiscal year.

Copa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were given a dividend of $1.61 per share. The ex-dividend date was Monday, December 2nd. This represents a $6.44 annualized dividend and a dividend yield of 7.27%. Copa’s dividend payout ratio (DPR) is currently 42.59%.

Institutional Trading of Copa

A number of hedge funds and other institutional investors have recently bought and sold shares of CPA. Bell Investment Advisors Inc boosted its holdings in Copa by 29.6% in the third quarter. Bell Investment Advisors Inc now owns 626 shares of the transportation company’s stock valued at $59,000 after purchasing an additional 143 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Copa during the 3rd quarter worth $82,000. Rhumbline Advisers boosted its stake in Copa by 69,000.0% in the second quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company’s stock valued at $132,000 after acquiring an additional 1,380 shares in the last quarter. Optimist Retirement Group LLC purchased a new position in shares of Copa during the third quarter worth about $240,000. Finally, Mackenzie Financial Corp increased its position in shares of Copa by 29.3% during the second quarter. Mackenzie Financial Corp now owns 2,690 shares of the transportation company’s stock worth $256,000 after purchasing an additional 610 shares in the last quarter. 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 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.