Copa Holdings, S.A. (NYSE:CPA) Plans $1.61 Quarterly Dividend

Copa Holdings, S.A. (NYSE:CPA) declared a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Stockholders of record on Monday, December 2nd will be paid a dividend of 1.61 per share by the transportation company on Friday, December 13th. This represents a $6.44 annualized dividend and a dividend yield of 6.93%. The ex-dividend date is Monday, December 2nd.

Copa has increased its dividend by an average of 60.1% per year over the last three years. Copa has a dividend payout ratio of 38.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Copa to earn $16.05 per share next year, which means the company should continue to be able to cover its $6.44 annual dividend with an expected future payout ratio of 40.1%.

Copa Stock Down 12.2 %

Shares of NYSE:CPA traded down $12.89 on Thursday, hitting $92.92. 1,291,918 shares of the company traded hands, compared to its average volume of 282,454. Copa has a 52 week low of $80.01 and a 52 week high of $114.00. The stock has a 50 day simple moving average of $96.81 and a 200-day simple moving average of $95.11. The company has a market cap of $3.66 billion, a PE ratio of 5.83, a PEG ratio of 0.67 and a beta of 1.48. The company has a quick ratio of 0.89, a current ratio of 0.98 and a debt-to-equity ratio of 0.56.

Analyst Ratings Changes

CPA has been the topic of a number of research analyst reports. TD Cowen lowered their price target on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Evercore ISI lowered their target price on Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. StockNews.com lowered Copa from a “buy” rating to a “hold” rating in a report on Saturday, November 16th. Finally, JPMorgan Chase & Co. dropped 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. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $148.83.

About Copa

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.