Copa (NYSE:CPA) Downgraded to Hold at StockNews.com

StockNews.com lowered shares of Copa (NYSE:CPA) from a buy rating to a hold rating in a report published on Wednesday morning.

A number of other research firms also recently weighed in on CPA. Deutsche Bank Aktiengesellschaft lowered their price target on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Evercore ISI cut their target price on 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 reduced their price target on shares of 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. lowered their price objective 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 research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Copa has an average rating of “Buy” and an average price target of $148.83.

Copa Stock Down 0.5 %

CPA stock opened at $100.32 on Wednesday. Copa has a 1-year low of $78.12 and a 1-year high of $114.00. The stock has a market cap of $3.95 billion, a price-to-earnings ratio of 7.22, a price-to-earnings-growth ratio of 0.59 and a beta of 1.49. The company has a current ratio of 0.98, a quick ratio of 0.89 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average is $92.99 and its 200 day moving average is $95.01.

Copa (NYSE:CPA) last issued its quarterly earnings results on Wednesday, August 7th. The transportation company reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.11. Copa had a net margin of 19.31% and a return on equity of 30.81%. The firm had revenue of $819.40 million for the quarter, compared to analyst estimates of $838.13 million. During the same quarter in the prior year, the firm earned $3.92 EPS. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. Sell-side analysts predict that Copa will post 14.56 EPS for the current fiscal year.

Copa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 6.42%. The ex-dividend date was Friday, August 30th. Copa’s dividend payout ratio (DPR) is presently 46.33%.

Institutional Investors Weigh In On Copa

Several institutional investors have recently added to or reduced their stakes in the company. Capital World Investors raised its stake in shares of Copa by 3.7% during the first quarter. Capital World Investors now owns 4,068,558 shares of the transportation company’s stock valued at $423,781,000 after acquiring an additional 144,806 shares during the last quarter. Sprucegrove Investment Management Ltd. raised its position in Copa by 8.3% during the 2nd quarter. Sprucegrove Investment Management Ltd. now owns 3,086,189 shares of the transportation company’s stock valued at $293,743,000 after purchasing an additional 236,850 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Copa by 1.9% in the 2nd quarter. Renaissance Technologies LLC now owns 871,928 shares of the transportation company’s stock worth $82,990,000 after buying an additional 16,100 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Copa by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 829,478 shares of the transportation company’s stock worth $78,950,000 after buying an additional 65,525 shares during the last quarter. Finally, Carrhae Capital LLP purchased a new position in shares of Copa during the third quarter valued at approximately $52,166,000. Hedge funds and other institutional investors 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 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.