Copa (NYSE:CPA) Shares Gap Down – What’s Next?

Copa Holdings, S.A. (NYSE:CPA)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $88.87, but opened at $86.70. Copa shares last traded at $87.02, with a volume of 45,292 shares trading hands.

Wall Street Analysts Forecast Growth

CPA has been the topic of several analyst reports. StockNews.com cut shares of Copa from a “buy” rating to a “hold” rating in a report on Monday, November 25th. JPMorgan Chase & Co. decreased their price target on Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a research report on Thursday, August 29th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $148.83.

Copa Price Performance

The business’s 50-day moving average price is $95.70 and its 200 day moving average price is $93.16. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $3.45 billion, a P/E ratio of 5.79, a price-to-earnings-growth ratio of 0.72 and a beta of 1.45.

Copa (NYSE:CPA) last released its quarterly earnings results on Wednesday, November 20th. The transportation company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.48 by $0.02. Copa had a net margin of 18.20% and a return on equity of 28.46%. The firm had revenue of $854.71 million during the quarter, compared to analyst estimates of $864.90 million. During the same period in the previous year, the business earned $4.39 EPS. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. Analysts anticipate that Copa Holdings, S.A. will post 14.48 EPS for the current fiscal year.

Copa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were issued a dividend of $1.61 per share. The ex-dividend date was Monday, December 2nd. This represents a $6.44 dividend on an annualized basis and a dividend yield of 7.36%. Copa’s dividend payout ratio is 42.59%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Bell Investment Advisors Inc grew its holdings in shares of Copa by 29.6% during the 3rd quarter. Bell Investment Advisors Inc now owns 626 shares of the transportation company’s stock valued at $59,000 after purchasing an additional 143 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in Copa during the 3rd quarter worth approximately $82,000. Rhumbline Advisers lifted its position in Copa by 69,000.0% in the second quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company’s stock valued at $132,000 after purchasing an additional 1,380 shares during the last quarter. Optimist Retirement Group LLC bought a new position in shares of Copa in the third quarter worth approximately $240,000. Finally, Mackenzie Financial Corp increased its stake in shares of Copa by 29.3% in the second quarter. Mackenzie Financial Corp now owns 2,690 shares of the transportation company’s stock worth $256,000 after buying an additional 610 shares during the period. 70.09% of the stock is currently owned by institutional investors.

Copa Company Profile

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.