Copa (NYSE:CPA) Issues Quarterly Earnings Results

Copa (NYSE:CPA) released its earnings results on Wednesday. The transportation company reported $2.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.11, Briefing.com reports. Copa had a net margin of 16.42% and a return on equity of 36.59%. The company had revenue of $819.40 million for the quarter, compared to the consensus estimate of $838.13 million. During the same period in the prior year, the company posted $3.92 EPS. The company’s revenue was up 1.3% compared to the same quarter last year.

Copa Stock Up 0.7 %

Shares of NYSE:CPA traded up $0.63 during midday trading on Friday, hitting $88.12. The stock had a trading volume of 338,882 shares, compared to its average volume of 279,312. The company has a market cap of $3.47 billion, a P/E ratio of 6.34, a PEG ratio of 0.42 and a beta of 1.47. Copa has a 12 month low of $78.12 and a 12 month high of $114.00. The business’s 50-day simple moving average is $92.93 and its 200-day simple moving average is $98.03. The company has a quick ratio of 0.90, a current ratio of 0.99 and a debt-to-equity ratio of 0.58.

Copa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 7.31%. The ex-dividend date is Friday, August 30th. Copa’s dividend payout ratio is currently 46.33%.

Wall Street Analysts Forecast Growth

CPA has been the topic of several analyst reports. Evercore ISI cut their price objective on shares of Copa from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday. StockNews.com downgraded shares of Copa from a “buy” rating to a “hold” rating in a research report on Wednesday, June 19th. TD Cowen decreased their price objective on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft cut their target price on shares of Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Raymond James upped their price target on Copa from $165.00 to $168.00 and gave the stock a “strong-buy” rating in a research report on Friday, May 17th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $148.00.

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.