Copa Holdings, S.A. (NYSE:CPA) Plans $1.61 Quarterly Dividend

Copa Holdings, S.A. (NYSE:CPA) announced a quarterly dividend on Wednesday, August 7th, Zacks reports. Stockholders of record on Friday, August 30th will be given a dividend of 1.61 per share by the transportation company on Friday, September 13th. This represents a $6.44 annualized dividend and a dividend yield of 7.24%. The ex-dividend date of this dividend is Friday, August 30th.

Copa has increased its dividend by an average of 60.1% per year over the last three years. Copa has a payout ratio of 36.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Copa to earn $17.38 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 37.1%.

Copa Stock Performance

Shares of CPA stock traded up $1.50 during trading on Friday, reaching $88.99. The company had a trading volume of 71,143 shares, compared to its average volume of 277,562. The firm’s 50 day simple moving average is $93.11 and its two-hundred day simple moving average is $98.05. Copa has a one year low of $78.12 and a one year high of $114.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.99 and a quick ratio of 0.90. The company has a market capitalization of $3.51 billion, a PE ratio of 6.29, a PEG ratio of 0.42 and a beta of 1.47.

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. Copa had a net margin of 16.42% and a return on equity of 36.59%. The firm had revenue of $819.40 million for the quarter, compared to the consensus estimate of $838.13 million. During the same quarter last year, the firm posted $3.92 EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. Sell-side analysts forecast that Copa will post 16.24 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Morgan Stanley assumed coverage on Copa in a research report on Friday, May 24th. They issued an “overweight” rating and a $140.00 target price for the company. Raymond James raised their price objective on shares of Copa from $165.00 to $168.00 and gave the stock a “strong-buy” rating in a report on Friday, May 17th. Evercore ISI cut their price objective on Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, TD Cowen cut their target price on shares of Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $148.00.

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.