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 research note issued to investors on Wednesday.

A number of other research analysts have also recently issued reports on CPA. Deutsche Bank Aktiengesellschaft lowered 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. JPMorgan Chase & Co. lowered 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. TD Cowen lowered 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. Finally, Evercore ISI lowered their price objective on Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Copa currently has an average rating of “Buy” and an average target price of $148.83.

Copa Trading Up 1.6 %

CPA opened at $100.72 on Wednesday. The stock has a market cap of $3.97 billion, a PE ratio of 7.25, a PEG 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 of $92.57 and a 200-day moving average of $95.05. Copa has a 52 week low of $78.12 and a 52 week high of $114.00.

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

Copa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 6.39%. The ex-dividend date of this dividend was Friday, August 30th. Copa’s dividend payout ratio is currently 46.33%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Sciencast Management LP grew its holdings in shares of Copa by 4.0% in the first quarter. Sciencast Management LP now owns 2,627 shares of the transportation company’s stock worth $274,000 after acquiring an additional 100 shares during the period. Hexagon Capital Partners LLC grew its holdings in Copa by 15.1% during the first quarter. Hexagon Capital Partners LLC now owns 776 shares of the transportation company’s stock valued at $81,000 after purchasing an additional 102 shares during the period. SPC Financial Inc. grew its holdings in Copa by 1.1% during the first quarter. SPC Financial Inc. now owns 11,845 shares of the transportation company’s stock valued at $1,234,000 after purchasing an additional 130 shares during the period. Coronation Fund Managers Ltd. grew its holdings in Copa by 11.3% during the first quarter. Coronation Fund Managers Ltd. now owns 2,763 shares of the transportation company’s stock valued at $288,000 after purchasing an additional 280 shares during the period. Finally, Carson Advisory Inc. grew its holdings in Copa by 9.1% during the second quarter. Carson Advisory Inc. now owns 3,696 shares of the transportation company’s stock valued at $352,000 after purchasing an additional 308 shares during the period. Hedge funds and other institutional investors own 70.09% of the company’s stock.

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.