Copa (NYSE:CPA) Releases Quarterly Earnings Results, Beats Expectations By $0.77 EPS

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

Copa Stock Up 0.2 %

NYSE CPA traded up $0.20 on Friday, hitting $95.15. 336,668 shares of the stock were exchanged, compared to its average volume of 485,766. The company has a quick ratio of 0.68, a current ratio of 0.74 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 company has a market cap of $3.75 billion, a PE ratio of 9.09, a PEG ratio of 0.33 and a beta of 1.37. The company has a 50-day moving average price of $87.39 and a 200-day moving average price of $99.94.

Copa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued 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 presently 31.36%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its position in shares of Copa by 0.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 68,576 shares of the transportation company’s stock worth $6,112,000 after buying an additional 477 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Copa by 46.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,539 shares of the transportation company’s stock worth $226,000 after buying an additional 806 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Copa by 35.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 16,251 shares of the transportation company’s stock worth $1,448,000 after buying an additional 4,258 shares during the last quarter. Osaic Holdings Inc. lifted its position in shares of Copa by 34.0% during the 2nd quarter. Osaic Holdings Inc. now owns 2,269 shares of the transportation company’s stock worth $251,000 after buying an additional 576 shares during the last quarter. Finally, Legato Capital Management LLC lifted its position in shares of Copa by 10.7% during the 2nd quarter. Legato Capital Management LLC now owns 4,994 shares of the transportation company’s stock worth $552,000 after buying an additional 484 shares during the last quarter. Institutional investors and hedge funds own 81.94% of the company’s stock.

Analysts Set New Price Targets

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

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Copa Company Profile

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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.

See Also

Earnings History for Copa (NYSE:CPA)

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