Copa Holdings, S.A. (NYSE:CPA) Receives Average Recommendation of “Buy” from Brokerages

Copa Holdings, S.A. (NYSE:CPA) has been assigned an average rating of “Buy” from the six research firms that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $154.40.

CPA has been the topic of a number of recent research reports. Morgan Stanley restated an “overweight” rating and issued a $145.00 price objective (up from $125.00) on shares of Copa in a research note on Monday, August 11th. Wall Street Zen upgraded Copa from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. TD Cowen boosted their target price on Copa from $144.00 to $147.00 and gave the company a “buy” rating in a report on Friday, August 8th. Cowen reissued a “buy” rating on shares of Copa in a report on Friday, August 8th. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Copa in a research note on Friday, August 8th.

Hedge Funds Weigh In On Copa

Several institutional investors and hedge funds have recently added to or reduced their stakes in CPA. Northern Trust Corp increased its position in Copa by 19.7% during the 4th quarter. Northern Trust Corp now owns 20,850 shares of the transportation company’s stock worth $1,832,000 after purchasing an additional 3,433 shares during the period. Cetera Investment Advisers acquired a new position in Copa during the fourth quarter worth $411,000. Millennium Management LLC grew its stake in shares of Copa by 1,279.2% during the 4th quarter. Millennium Management LLC now owns 324,235 shares of the transportation company’s stock worth $28,494,000 after purchasing an additional 300,726 shares during the period. Quantinno Capital Management LP grew its stake in shares of Copa by 8.4% during the 4th quarter. Quantinno Capital Management LP now owns 5,658 shares of the transportation company’s stock worth $497,000 after purchasing an additional 439 shares during the period. Finally, Silvercrest Asset Management Group LLC grew its stake in shares of Copa by 1.1% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 16,060 shares of the transportation company’s stock worth $1,411,000 after purchasing an additional 169 shares during the period. Institutional investors and hedge funds own 70.09% of the company’s stock.

Copa Trading Up 0.7%

CPA opened at $114.93 on Thursday. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 7.47, a price-to-earnings-growth ratio of 1.00 and a beta of 1.31. Copa has a 52 week low of $82.54 and a 52 week high of $121.63. The business’s 50 day moving average is $113.46 and its two-hundred day moving average is $102.94. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

Copa (NYSE:CPA) last announced its earnings results on Wednesday, August 6th. The transportation company reported $3.61 EPS for the quarter, beating analysts’ consensus estimates of $3.25 by $0.36. The business had revenue of $842.60 million for the quarter, compared to analysts’ expectations of $833.12 million. Copa had a net margin of 18.36% and a return on equity of 26.22%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.88 EPS. On average, research analysts predict that Copa will post 15.48 EPS for the current year.

Copa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Friday, August 29th. Copa’s payout ratio is 41.87%.

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.