Zacks Research Has Negative Outlook for Copa FY2024 Earnings

Copa Holdings, S.A. (NYSE:CPA) – Analysts at Zacks Research dropped their FY2024 earnings estimates for Copa in a report released on Thursday, January 9th. Zacks Research analyst M. Basu now anticipates that the transportation company will earn $14.62 per share for the year, down from their prior forecast of $14.64. 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 $4.66 EPS, Q2 2025 earnings at $3.22 EPS, Q3 2025 earnings at $3.78 EPS and Q4 2026 earnings at $4.65 EPS.

Several other analysts have also commented on the stock. StockNews.com lowered shares of Copa from a “buy” rating to a “hold” rating in a research report on Monday, November 25th. UBS Group raised their price target on shares of Copa from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $153.29.

Copa Stock Up 4.1 %

CPA stock opened at $91.86 on Monday. The firm has a market cap of $3.62 billion, a PE ratio of 6.08, a P/E/G ratio of 0.72 and a beta of 1.44. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.09. The firm’s fifty day moving average is $92.08 and its 200 day moving average is $92.33. Copa has a one year low of $80.01 and a one year high of $114.00.

Copa (NYSE:CPA) last released its quarterly earnings data on Wednesday, November 20th. The transportation company reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.48 by $0.02. The firm had revenue of $854.71 million for the quarter, compared to analyst estimates of $864.90 million. Copa had a net margin of 18.20% and a return on equity of 28.46%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.39 earnings per share.

Institutional Trading of Copa

Several institutional investors have recently modified their holdings of CPA. Coronation Fund Managers Ltd. grew its position in shares of Copa by 60.3% in the second quarter. Coronation Fund Managers Ltd. now owns 4,430 shares of the transportation company’s stock valued at $422,000 after purchasing an additional 1,667 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Copa by 15.1% in the second quarter. Bank of New York Mellon Corp now owns 4,336 shares of the transportation company’s stock worth $413,000 after buying an additional 569 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Copa by 69,000.0% in the second quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company’s stock worth $132,000 after buying an additional 1,380 shares in the last quarter. Qsemble Capital Management LP purchased a new position in shares of Copa in the second quarter worth about $268,000. Finally, Dimensional Fund Advisors LP lifted its stake 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 buying an additional 65,525 shares in the last quarter. Institutional investors and hedge funds own 70.09% of the company’s stock.

Copa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were given a $1.61 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $6.44 annualized dividend and a dividend yield of 7.01%. Copa’s dividend payout ratio (DPR) is 42.59%.

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.