Copa (NYSE:CPA) Posts Quarterly Earnings Results, Beats Estimates By $0.77 EPS

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

Copa Stock Up 0.2 %

NYSE:CPA traded up $0.20 during trading hours on Friday, hitting $95.15. 336,668 shares of the stock traded hands, compared to its average volume of 485,766. The firm has a 50 day moving average price of $87.39 and a 200 day moving average price of $99.94. 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 fifty-two week low of $78.12 and a fifty-two week high of $121.20. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 0.33 and a beta of 1.37.

Copa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 3.45%. The ex-dividend date is Wednesday, November 29th. Copa’s dividend payout ratio (DPR) is currently 31.36%.

Wall Street Analyst Weigh In

Several research firms have recently commented on CPA. TD Cowen lowered their target price on Copa from $130.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, August 11th. Raymond James boosted their price objective on Copa from $152.00 to $155.00 and gave the stock a “strong-buy” rating in a research report on Friday. TheStreet downgraded Copa from a “b-” rating to a “c+” rating in a research report on Wednesday, November 1st. StockNews.com initiated coverage on Copa in a research report on Thursday, October 5th. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. boosted their price objective on Copa from $160.00 to $170.00 in a research report on Monday, September 18th. One 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $135.89.

Institutional Trading of Copa

Several large investors have recently added to or reduced their stakes in CPA. Goldman Sachs Group Inc. raised its stake in Copa by 559.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 546,018 shares of the transportation company’s stock valued at $34,601,000 after purchasing an additional 463,244 shares during the period. Millennium Management LLC boosted its holdings in Copa by 67.5% in the fourth quarter. Millennium Management LLC now owns 808,205 shares of the transportation company’s stock worth $67,218,000 after purchasing an additional 325,800 shares in the last quarter. Capital World Investors boosted its holdings in Copa by 9.9% in the first quarter. Capital World Investors now owns 3,298,119 shares of the transportation company’s stock worth $275,855,000 after purchasing an additional 297,595 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in Copa by 317.1% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 369,463 shares of the transportation company’s stock worth $30,728,000 after purchasing an additional 280,894 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in Copa by 9.4% in the first quarter. BlackRock Inc. now owns 2,393,256 shares of the transportation company’s stock worth $221,017,000 after purchasing an additional 205,746 shares in the last quarter. 81.94% of the stock is owned by institutional investors and hedge funds.

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.