Copa (NYSE:CPA) Posts 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, topping the consensus estimate of $3.62 by $0.77, Briefing.com reports. Copa had a net margin of 12.07% and a return on equity of 42.85%. The company had revenue of $867.71 million during the quarter, compared to the consensus estimate of $870.57 million. During the same period in the previous year, the firm posted $2.91 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis.

Copa Trading Up 0.2 %

NYSE:CPA opened at $95.12 on Friday. Copa has a 12 month low of $78.12 and a 12 month high of $121.20. The company has a current ratio of 0.74, a quick ratio of 0.68 and a debt-to-equity ratio of 0.71. The firm’s 50 day moving average is $87.39 and its 200 day moving average is $99.94. The stock has a market capitalization 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 Dividend Announcement

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

Hedge Funds Weigh In On Copa

Institutional investors and hedge funds have recently bought and sold shares of the company. State of Wyoming purchased a new position in shares of Copa during the 4th quarter valued at $32,000. Advisory Services Network LLC lifted its position in shares of Copa by 1,560.7% during the first quarter. Advisory Services Network LLC now owns 465 shares of the transportation company’s stock worth $43,000 after acquiring an additional 437 shares in the last quarter. Captrust Financial Advisors boosted its holdings in shares of Copa by 136.8% in the first quarter. Captrust Financial Advisors now owns 689 shares of the transportation company’s stock worth $58,000 after acquiring an additional 398 shares during the period. Advisor Group Holdings Inc. grew its position in shares of Copa by 16.2% in 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 in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of Copa by 292.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,292 shares of the transportation company’s stock valued at $107,000 after purchasing an additional 963 shares during the period. 81.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on CPA shares. JPMorgan Chase & Co. lifted their target price on Copa from $160.00 to $170.00 in a research report on Monday, September 18th. StockNews.com assumed coverage on shares of Copa in a research note on Thursday, October 5th. They issued a “hold” rating for the company. TheStreet lowered shares of Copa from a “b-” rating to a “c+” rating in a research report on Wednesday, November 1st. TD Cowen cut their price target on shares of Copa from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, August 11th. Finally, Raymond James increased their price objective on shares of Copa from $152.00 to $155.00 and gave the company a “strong-buy” rating in a research note on Friday. One 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. According to MarketBeat, the company currently has a consensus 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.