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. Shareholders of record on Monday, December 2nd will be given a dividend of 1.61 per share by the transportation company on Friday, December 13th. This represents a $6.44 annualized dividend and a yield of 6.93%. The ex-dividend date is Monday, December 2nd.

Copa has raised its dividend by an average of 60.1% per year over the last three years. Copa has a payout ratio of 38.0% meaning 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 Price Performance

Shares of Copa stock traded down $12.89 during midday trading on Thursday, hitting $92.92. 1,291,918 shares of the company traded hands, compared to its average volume of 282,454. The firm’s fifty day moving average price is $96.81 and its 200-day moving average price is $95.11. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.89 and a current ratio of 0.98. Copa has a 12 month low of $80.01 and a 12 month high of $114.00. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of 5.83, a PEG ratio of 0.67 and a beta of 1.48.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of 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. decreased their price target on shares of Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a research note on Thursday, August 29th. Evercore ISI decreased their price target on shares of Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. TD Cowen decreased their price target on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, StockNews.com lowered shares of Copa from a “buy” rating to a “hold” rating in a research note on Saturday, November 16th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Copa presently has a consensus rating of “Buy” and an average target price 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.