Copa Holdings, S.A. (NYSE:CPA – Free Report) – Stock analysts at Seaport Res Ptn lifted their FY2023 earnings per share (EPS) estimates for Copa in a report issued on Thursday, November 16th. Seaport Res Ptn analyst D. Mckenzie now forecasts that the transportation company will post earnings of $16.18 per share for the year, up from their prior estimate of $16.06. The consensus estimate for Copa’s current full-year earnings is $14.52 per share. Seaport Res Ptn also issued estimates for Copa’s Q1 2024 earnings at $3.60 EPS and Q2 2024 earnings at $3.25 EPS.
Copa (NYSE:CPA – Get Free Report) last announced its earnings results on Thursday, November 16th. The transportation company reported $4.39 earnings per share for the quarter, beating the consensus estimate of $3.62 by $0.77. Copa had a return on equity of 42.85% and a net margin of 12.07%. The firm had revenue of $867.71 million for the quarter, compared to the consensus estimate of $870.57 million. During the same quarter in the previous year, the business earned $2.91 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis.
Copa Price Performance
Shares of NYSE CPA opened at $94.90 on Friday. The stock has a market cap of $3.74 billion, a P/E ratio of 9.07, a P/E/G ratio of 0.33 and a beta of 1.37. The firm’s 50-day simple moving average is $87.48 and its 200 day simple moving average is $99.91. Copa has a fifty-two week low of $76.99 and a fifty-two week high of $121.20. The company has a quick ratio of 0.68, a current ratio of 0.74 and a debt-to-equity ratio of 0.71.
Copa Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be issued a $0.82 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.46%. Copa’s dividend payout ratio is 31.36%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its holdings in shares of Copa by 2.4% during the third quarter. JPMorgan Chase & Co. now owns 2,958,237 shares of the transportation company’s stock worth $263,638,000 after acquiring an additional 68,592 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Copa by 0.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 68,576 shares of the transportation company’s stock valued at $6,112,000 after buying an additional 477 shares during the last quarter. Itau Unibanco Holding S.A. grew its stake in shares of Copa by 12.5% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 75,600 shares of the transportation company’s stock valued at $6,737,000 after buying an additional 8,400 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Copa by 46.5% in the third quarter. Tower Research Capital LLC TRC now owns 2,539 shares of the transportation company’s stock worth $226,000 after buying an additional 806 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its position in Copa by 2.6% in the third quarter. Qube Research & Technologies Ltd now owns 156,726 shares of the transportation company’s stock worth $13,967,000 after acquiring an additional 4,029 shares in the last quarter. 81.94% of the stock is owned by hedge funds and other institutional investors.
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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