Copa (NYSE:CPA) Trading Down 0.9%

Copa Holdings, S.A. (NYSE:CPA) shares dropped 0.9% during trading on Tuesday . The stock traded as low as $84.23 and last traded at $84.57. Approximately 102,536 shares traded hands during trading, a decline of 63% from the average daily volume of 273,439 shares. The stock had previously closed at $85.33.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Raymond James lifted their price objective on Copa from $165.00 to $168.00 and gave the stock a “strong-buy” rating in a research note on Friday, May 17th. Evercore ISI dropped their price target on shares of Copa from $165.00 to $150.00 and set an “outperform” 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 for the company in a research report on Friday, August 9th. Morgan Stanley initiated coverage on shares of Copa in a research note on Friday, May 24th. They set an “overweight” rating and a $140.00 target price for the company. Finally, StockNews.com cut shares of Copa from a “buy” rating to a “hold” rating in a research report on Wednesday, June 19th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $148.83.

Copa Trading Up 3.4 %

The firm has a market cap of $3.47 billion, a P/E ratio of 6.32, a price-to-earnings-growth ratio of 0.55 and a beta of 1.48. The firm has a fifty day simple moving average of $90.03 and a 200-day simple moving average of $96.52. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.98 and a quick ratio of 0.89.

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

Copa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a $1.61 dividend. The ex-dividend date is Friday, August 30th. This represents a $6.44 annualized dividend and a yield of 7.33%. Copa’s payout ratio is 46.33%.

Hedge Funds Weigh In On Copa

Several hedge funds have recently modified their holdings of the company. Capital World Investors lifted its holdings in Copa by 3.7% during the 1st quarter. Capital World Investors now owns 4,068,558 shares of the transportation company’s stock worth $423,781,000 after purchasing an additional 144,806 shares in the last quarter. Sprucegrove Investment Management Ltd. grew its holdings in shares of Copa by 8.3% during the second quarter. Sprucegrove Investment Management Ltd. now owns 3,086,189 shares of the transportation company’s stock worth $293,743,000 after purchasing an additional 236,850 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Copa by 1.9% during the second quarter. Renaissance Technologies LLC now owns 871,928 shares of the transportation company’s stock worth $82,990,000 after purchasing an additional 16,100 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Copa by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 829,478 shares of the transportation company’s stock worth $78,950,000 after purchasing an additional 65,525 shares during the last quarter. Finally, Brandes Investment Partners LP lifted its position in Copa by 6.2% during the fourth quarter. Brandes Investment Partners LP now owns 444,576 shares of the transportation company’s stock valued at $47,263,000 after purchasing an additional 25,811 shares during the last quarter. 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.