Copa (NYSE:CPA) Shares Down 0.2%

Copa Holdings, S.A. (NYSE:CPA) shares traded down 0.2% during trading on Monday . The company traded as low as $88.64 and last traded at $88.77. 25,346 shares were traded during mid-day trading, a decline of 91% from the average session volume of 273,950 shares. The stock had previously closed at $88.96.

Analysts Set New Price Targets

CPA has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Copa from $180.00 to $175.00 and set an “overweight” rating on the stock in a report on Thursday, August 29th. StockNews.com cut Copa from a “buy” rating to a “hold” rating in a research report on Wednesday, June 19th. Deutsche Bank Aktiengesellschaft decreased their target price on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. TD Cowen cut their price target on Copa from $145.00 to $130.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Morgan Stanley assumed coverage on shares of Copa in a research report on Friday, May 24th. They set an “overweight” rating and a $140.00 price objective for the company. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $148.83.

Copa Price Performance

The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 6.50, a P/E/G ratio of 0.55 and a beta of 1.48. The company’s 50 day moving average is $89.77 and its 200 day moving average is $96.25. The company has a quick ratio of 0.89, a current ratio of 0.98 and a debt-to-equity ratio of 0.56.

Copa (NYSE:CPA) last announced its earnings results 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 company had revenue of $819.40 million for the quarter, compared to analysts’ expectations of $838.13 million. Copa had a net margin of 19.31% and a return on equity of 30.81%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the firm earned $3.92 earnings per share. On average, equities research analysts anticipate that Copa Holdings, S.A. will post 14.53 earnings per share for the current fiscal year.

Copa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $1.61 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $6.44 dividend on an annualized basis and a dividend yield of 7.13%. Copa’s payout ratio is 46.33%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital World Investors increased its holdings in Copa by 3.7% in the 1st quarter. Capital World Investors now owns 4,068,558 shares of the transportation company’s stock valued at $423,781,000 after buying an additional 144,806 shares during the period. Sprucegrove Investment Management Ltd. raised its holdings in shares of Copa by 8.3% during the 2nd quarter. Sprucegrove Investment Management Ltd. now owns 3,086,189 shares of the transportation company’s stock worth $293,743,000 after buying an additional 236,850 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Copa by 1.9% in the second quarter. Renaissance Technologies LLC now owns 871,928 shares of the transportation company’s stock worth $82,990,000 after acquiring an additional 16,100 shares during the last quarter. Dimensional Fund Advisors LP boosted 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 valued at $78,950,000 after buying an additional 65,525 shares in the last quarter. Finally, Shellback Capital LP boosted its holdings in shares of Copa by 13.9% during the 2nd quarter. Shellback Capital LP now owns 440,000 shares of the transportation company’s stock valued at $41,879,000 after acquiring an additional 53,806 shares in the last quarter. Institutional investors and hedge funds own 70.09% of the company’s stock.

Copa Company Profile

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.