Copa Holdings, S.A. (NYSE:CPA) to Post Q3 2024 Earnings of $3.68 Per Share, Zacks Research Forecasts

Copa Holdings, S.A. (NYSE:CPA) – Stock analysts at Zacks Research lifted their Q3 2024 earnings per share estimates for Copa in a research note issued to investors on Monday, September 23rd. Zacks Research analyst M. Basu now expects that the transportation company will earn $3.68 per share for the quarter, up from their prior forecast of $3.64. The consensus estimate for Copa’s current full-year earnings is $14.53 per share. Zacks Research also issued estimates for Copa’s Q4 2024 earnings at $4.02 EPS, FY2024 earnings at $14.77 EPS, Q1 2025 earnings at $4.99 EPS, Q2 2025 earnings at $3.55 EPS, Q3 2025 earnings at $3.32 EPS, Q4 2025 earnings at $2.68 EPS, FY2025 earnings at $14.53 EPS, Q1 2026 earnings at $3.91 EPS and FY2026 earnings at $18.64 EPS.

Copa (NYSE:CPA) last released its quarterly earnings data on Wednesday, August 7th. The transportation company reported $2.88 EPS for the quarter, topping the consensus estimate of $2.77 by $0.11. The business had revenue of $819.40 million for the quarter, compared to analyst estimates of $838.13 million. Copa had a return on equity of 30.81% and a net margin of 19.31%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.92 EPS.

Other research analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Evercore ISI lowered their price target on Copa from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. StockNews.com cut Copa from a “buy” rating to a “hold” rating in a research report on Wednesday, June 19th. TD Cowen decreased their target price on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. cut their price target on shares of Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a report on Thursday, August 29th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $148.83.

Copa Stock Performance

CPA opened at $92.74 on Wednesday. The stock has a market cap of $3.66 billion, a P/E ratio of 6.67, a P/E/G ratio of 0.57 and a beta of 1.48. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.98 and a quick ratio of 0.89. The firm has a fifty day moving average price of $89.37 and a 200 day moving average price of $95.99. Copa has a 1 year low of $78.12 and a 1 year high of $114.00.

Copa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a dividend yield of 6.94%. The ex-dividend date was Friday, August 30th. Copa’s payout ratio is 46.33%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sprucegrove Investment Management Ltd. raised its position in shares of Copa by 8.3% in the second quarter. Sprucegrove Investment Management Ltd. now owns 3,086,189 shares of the transportation company’s stock valued at $293,743,000 after buying an additional 236,850 shares during the last quarter. Capital World Investors grew its holdings in shares of Copa by 5.9% in the fourth quarter. Capital World Investors now owns 3,923,752 shares of the transportation company’s stock valued at $417,134,000 after purchasing an additional 218,236 shares during the period. Raymond James & Associates raised its stake in Copa by 61.4% during the second quarter. Raymond James & Associates now owns 294,710 shares of the transportation company’s stock worth $28,050,000 after purchasing an additional 112,143 shares during the period. Sei Investments Co. lifted its holdings in Copa by 34.8% in the first quarter. Sei Investments Co. now owns 346,078 shares of the transportation company’s stock valued at $36,047,000 after acquiring an additional 89,354 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Copa by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 829,478 shares of the transportation company’s stock worth $78,950,000 after acquiring an additional 65,525 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 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.