Copa Holdings, S.A. Announces Quarterly Dividend of $1.61 (NYSE:CPA)

Copa Holdings, S.A. (NYSE:CPA) announced a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Shareholders of record on Monday, December 2nd will be given a dividend of 1.61 per share by the transportation company on Friday, December 13th. This represents a $6.44 dividend on an annualized basis and a yield of 6.93%. The ex-dividend date of this dividend is Monday, December 2nd.

Copa has increased its dividend by an average of 60.1% per year over the last three years. Copa has a dividend payout ratio of 38.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Copa to earn $16.05 per share next year, which means the company should continue to be able to cover its $6.44 annual dividend with an expected future payout ratio of 40.1%.

Copa Stock Performance

Shares of CPA traded down $12.89 during midday trading on Thursday, reaching $92.92. 1,291,918 shares of the stock were exchanged, compared to its average volume of 282,454. The business’s 50-day moving average price is $96.81 and its 200 day moving average price is $95.11. 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 has a twelve month low of $80.01 and a twelve month high of $114.00. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 5.83, a PEG ratio of 0.67 and a beta of 1.48.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Evercore ISI cut their target price on Copa from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. StockNews.com lowered Copa from a “buy” rating to a “hold” rating in a report on Saturday, November 16th. Deutsche Bank Aktiengesellschaft lowered their price target on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered their price target on Copa from $180.00 to $175.00 and set an “overweight” rating on the stock in a report on Thursday, August 29th. Finally, TD Cowen lowered their price objective on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $148.83.

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.