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

Copa Holdings, S.A. (NYSE:CPA) announced a quarterly dividend on Wednesday, August 7th, Zacks reports. Investors of record on Friday, August 30th will be given a dividend of 1.61 per share by the transportation company on Friday, September 13th. This represents a $6.44 dividend on an annualized basis and a yield of 7.06%. The ex-dividend date is Friday, August 30th.

Copa has raised its dividend by an average of 60.1% per year over the last three years. Copa has a payout ratio of 37.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Copa to earn $17.38 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 37.1%.

Copa Price Performance

CPA stock opened at $91.18 on Wednesday. Copa has a 1 year low of $78.12 and a 1 year high of $114.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.90 and a current ratio of 0.99. The stock’s 50 day moving average price is $91.25 and its 200 day moving average price is $97.30. The firm has a market cap of $3.59 billion, a P/E ratio of 6.56, a PEG ratio of 0.42 and a beta of 1.47.

Copa (NYSE:CPA) last posted its earnings results on Wednesday, August 7th. The transportation company reported $2.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.11. Copa had a return on equity of 36.59% and a net margin of 16.42%. The firm had revenue of $819.40 million for the quarter, compared to analyst estimates of $838.13 million. During the same quarter in the prior year, the company earned $3.92 EPS. Copa’s revenue was up 1.3% on a year-over-year basis. On average, sell-side analysts expect that Copa will post 16.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CPA shares. Morgan Stanley started coverage on Copa in a research note on Friday, May 24th. They issued an “overweight” rating and a $140.00 target price on the stock. TD Cowen reduced their target price on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. StockNews.com downgraded Copa from a “buy” rating to a “hold” rating in a report on Wednesday, June 19th. Evercore ISI cut their price target on Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Copa from $145.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, August 8th. One equities research 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus 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.