Copa Holdings, S.A. (NYSE:CPA) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Copa Holdings, S.A. (NYSE:CPA) have been assigned a consensus rating of “Buy” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $148.83.

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on Copa from $180.00 to $175.00 and set an “overweight” rating on the stock in a report on Thursday, August 29th. TD Cowen decreased 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. Evercore ISI cut their target price on shares of Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, StockNews.com cut shares of Copa from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th.

Hedge Funds Weigh In On Copa

Several hedge funds have recently bought and sold shares of CPA. Capital World Investors lifted its stake in shares of 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 during the last quarter. Sprucegrove Investment Management Ltd. lifted its position 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 valued at $293,743,000 after buying an additional 236,850 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Copa by 1.9% in the 2nd quarter. Renaissance Technologies LLC now owns 871,928 shares of the transportation company’s stock valued at $82,990,000 after buying an additional 16,100 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Copa by 8.6% in the 2nd 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 during the last quarter. Finally, Shellback Capital LP lifted its position in Copa by 13.9% during the second quarter. Shellback Capital LP now owns 440,000 shares of the transportation company’s stock valued at $41,879,000 after acquiring an additional 53,806 shares during the last quarter. Institutional investors own 70.09% of the company’s stock.

Copa Trading Down 1.7 %

CPA stock opened at $93.82 on Thursday. 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 1-year low of $78.12 and a 1-year high of $114.00. The business has a 50 day simple moving average of $89.46 and a two-hundred day simple moving average of $95.71. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 6.75, a PEG ratio of 0.57 and a beta of 1.48.

Copa (NYSE:CPA) last posted its earnings results on Wednesday, August 7th. The transportation company reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.11. The company had revenue of $819.40 million during the quarter, compared to analysts’ expectations of $838.13 million. Copa had a net margin of 19.31% and a return on equity of 30.81%. Copa’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the company posted $3.92 earnings per share. Research analysts anticipate that Copa will post 14.53 EPS for the current fiscal year.

Copa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $1.61 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $6.44 dividend on an annualized basis and a dividend yield of 6.86%. Copa’s dividend payout ratio is presently 46.33%.

About Copa

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.