Copa (NYSE:CPA) Announces Earnings Results

Copa (NYSE:CPA) announced its quarterly earnings results on Thursday. The transportation company reported $4.39 earnings per share for the quarter, beating analysts’ consensus estimates of $3.62 by $0.77, Briefing.com reports. The firm had revenue of $867.71 million for the quarter, compared to analysts’ expectations of $870.57 million. Copa had a net margin of 12.07% and a return on equity of 42.85%. Copa’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.91 earnings per share.

Copa Stock Up 0.2 %

Shares of NYSE:CPA opened at $95.12 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.68 and a debt-to-equity ratio of 0.71. Copa has a 12-month low of $78.12 and a 12-month high of $121.20. The company has a fifty day simple moving average of $87.39 and a 200 day simple moving average of $99.94. The firm has a market cap of $3.75 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 0.33 and a beta of 1.37.

Copa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.45%. Copa’s dividend payout ratio (DPR) is presently 31.36%.

Institutional Trading of Copa

Several institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its stake in Copa by 2.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,925 shares of the transportation company’s stock valued at $362,000 after purchasing an additional 110 shares during the last quarter. Advisor Group Holdings Inc. increased its stake in Copa by 16.2% during the first quarter. Advisor Group Holdings Inc. now owns 1,083 shares of the transportation company’s stock valued at $92,000 after purchasing an additional 151 shares during the last quarter. State of Wyoming bought a new stake in Copa during the fourth quarter valued at $32,000. Captrust Financial Advisors increased its stake in Copa by 136.8% during the first quarter. Captrust Financial Advisors now owns 689 shares of the transportation company’s stock valued at $58,000 after purchasing an additional 398 shares during the last quarter. Finally, Advisory Services Network LLC increased its stake in Copa by 1,560.7% during the first quarter. Advisory Services Network LLC now owns 465 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 437 shares during the last quarter. Institutional investors own 81.94% of the company’s stock.

Wall Street Analysts Forecast Growth

CPA has been the topic of a number of recent research reports. Raymond James lifted their price target on shares of Copa from $152.00 to $155.00 and gave the company a “strong-buy” rating in a research report on Friday. TheStreet cut shares of Copa from a “b-” rating to a “c+” rating in a research report on Wednesday, November 1st. StockNews.com initiated coverage on shares of Copa in a research report on Thursday, October 5th. They set a “hold” rating on the stock. JPMorgan Chase & Co. boosted their target price on shares of Copa from $160.00 to $170.00 in a research report on Monday, September 18th. Finally, TD Cowen reduced their target price on shares of Copa from $130.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, August 11th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $135.89.

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.