Copa (NYSE:CPA) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Copa (NYSE:CPA) from a buy rating to a hold rating in a report published on Wednesday.

A number of other equities analysts have also weighed in on the company. Deutsche Bank Aktiengesellschaft dropped their price objective on Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. TD Cowen dropped their price objective on Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, August 9th. JPMorgan Chase & Co. dropped their price objective on Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a research note on Thursday, August 29th. Finally, Evercore ISI decreased their target price on Copa from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Copa has a consensus rating of “Buy” and an average price target of $148.83.

Copa Stock Performance

NYSE CPA opened at $100.72 on Wednesday. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of 7.25, a price-to-earnings-growth ratio of 0.59 and a beta of 1.49. The company has a quick ratio of 0.89, a current ratio of 0.98 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average price of $92.57 and a 200-day moving average price of $95.05. Copa has a twelve month low of $78.12 and a twelve month high of $114.00.

Copa (NYSE:CPA) last released its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.88 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.11. The firm had revenue of $819.40 million during the quarter, compared to analyst estimates of $838.13 million. Copa had a return on equity of 30.81% and a net margin of 19.31%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.92 earnings per share. As a group, equities research analysts predict that Copa will post 14.56 EPS for the current fiscal year.

Copa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $1.61 per share. The ex-dividend date was Friday, August 30th. This represents a $6.44 dividend on an annualized basis and a yield of 6.39%. Copa’s dividend payout ratio (DPR) is presently 46.33%.

Institutional Investors Weigh In On Copa

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital World Investors raised its position in Copa by 3.7% during the first quarter. Capital World Investors now owns 4,068,558 shares of the transportation company’s stock valued at $423,781,000 after purchasing an additional 144,806 shares during the period. Sprucegrove Investment Management Ltd. grew its stake 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 grew its stake in shares of Copa by 1.9% during the second 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 during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Copa by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 829,478 shares of the transportation company’s stock valued at $78,950,000 after buying an additional 65,525 shares during the last quarter. Finally, Carrhae Capital LLP bought a new position in shares of Copa during the third quarter valued at approximately $52,166,000. 70.09% of the stock is currently owned by hedge funds and other institutional investors.

Copa Company Profile

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.