Copa (NYSE:CPA – Get Free Report) posted its earnings results on Wednesday. The transportation company reported $4.39 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $0.77, Briefing.com reports. Copa had a net margin of 10.17% and a return on equity of 40.02%. The company had revenue of $867.71 million for the quarter, compared to analyst estimates of $870.57 million. During the same quarter in the prior year, the business posted $2.91 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year.
Copa Price Performance
NYSE CPA traded up $3.55 on Thursday, hitting $96.46. The stock had a trading volume of 102,657 shares, compared to its average volume of 483,846. The firm has a 50-day moving average of $87.57 and a 200-day moving average of $99.95. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.68 and a current ratio of 0.74. Copa has a 52-week low of $76.99 and a 52-week high of $121.20. The company has a market capitalization of $3.80 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 0.31 and a beta of 1.37.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the stock. TheStreet lowered shares of Copa from a “b-” rating to a “c+” rating in a research report on Wednesday, November 1st. TD Cowen reduced their target price on shares of Copa from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, August 11th. JPMorgan Chase & Co. raised their price objective on shares of Copa from $160.00 to $170.00 in a report on Monday, September 18th. Finally, StockNews.com initiated coverage on shares of Copa in a research note on Thursday, October 5th. They issued a “hold” rating for the company. One investment 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $135.89.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. Osaic Holdings Inc. grew its position in Copa by 247.6% during the second quarter. Osaic Holdings Inc. now owns 5,885 shares of the transportation company’s stock worth $248,000 after buying an additional 4,192 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Copa by 46.5% during the third quarter. Tower Research Capital LLC TRC now owns 2,539 shares of the transportation company’s stock worth $226,000 after purchasing an additional 806 shares in the last quarter. Seven Eight Capital LP purchased a new position in shares of Copa during the first quarter worth about $212,000. Guggenheim Capital LLC bought a new position in shares of Copa in the third quarter worth approximately $203,000. Finally, UBS Group AG raised its stake in Copa by 51.2% in the first quarter. UBS Group AG now owns 1,845 shares of the transportation company’s stock valued at $155,000 after purchasing an additional 625 shares in the last quarter. Institutional investors own 81.94% 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.
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