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

Copa Holdings, S.A. (NYSE:CPA) declared a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Shareholders of record on Monday, December 2nd will be given a dividend of 1.61 per share by the transportation company on Friday, December 13th. This represents a $6.44 dividend on an annualized basis and a yield of 6.93%. The ex-dividend date is Monday, December 2nd.

Copa has raised its dividend by an average of 60.1% per year over the last three years. Copa has a payout ratio of 38.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Copa to earn $16.05 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 40.1%.

Copa Stock Down 12.2 %

Shares of Copa stock traded down $12.89 during trading on Thursday, reaching $92.92. The company had a trading volume of 1,291,918 shares, compared to its average volume of 282,454. The company has a market cap of $3.66 billion, a price-to-earnings ratio of 5.83, a price-to-earnings-growth ratio of 0.67 and a beta of 1.48. Copa has a fifty-two week low of $80.01 and a fifty-two week high of $114.00. The firm’s fifty day moving average is $96.81 and its 200-day moving average is $95.11. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.89 and a current ratio of 0.98.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CPA shares. JPMorgan Chase & Co. dropped their price objective on shares of Copa from $180.00 to $175.00 and set an “overweight” rating on the stock in a research note on Thursday, August 29th. StockNews.com downgraded shares of Copa from a “buy” rating to a “hold” rating in a research report on Saturday, November 16th. Evercore ISI cut their target price on shares of Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. TD Cowen cut their price target on shares of Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Copa presently has a consensus rating of “Buy” and a consensus price target of $148.83.

About Copa

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.