Seaport Res Ptn Has Negative Outlook of Copa FY2024 Earnings

Copa Holdings, S.A. (NYSE:CPA) – Research analysts at Seaport Res Ptn decreased their FY2024 earnings per share estimates for Copa in a note issued to investors on Wednesday, December 18th. Seaport Res Ptn analyst D. Mckenzie now expects that the transportation company will earn $14.42 per share for the year, down from their previous estimate of $14.67. The consensus estimate for Copa’s current full-year earnings is $14.48 per share. Seaport Res Ptn also issued estimates for Copa’s Q4 2024 earnings at $3.85 EPS, Q3 2025 earnings at $3.80 EPS and Q4 2025 earnings at $4.50 EPS.

Copa (NYSE:CPA) last announced its quarterly earnings results on Wednesday, November 20th. The transportation company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.48 by $0.02. The business had revenue of $854.71 million during the quarter, compared to the consensus estimate of $864.90 million. Copa had a net margin of 18.20% and a return on equity of 28.46%. The business’s revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $4.39 EPS.

A number of other equities analysts also recently commented on the company. StockNews.com downgraded Copa from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. reduced their price objective on Copa from $180.00 to $175.00 and set an “overweight” rating on the stock in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Copa currently has an average rating of “Buy” and a consensus target price of $148.83.

Copa Trading Up 0.3 %

Shares of Copa stock opened at $88.87 on Friday. The company has a 50-day moving average of $95.70 and a two-hundred day moving average of $93.23. The stock has a market cap of $3.50 billion, a PE ratio of 5.88, a price-to-earnings-growth ratio of 0.72 and a beta of 1.45. Copa has a 12-month low of $80.01 and a 12-month high of $114.00. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56.

Copa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were paid a dividend of $1.61 per share. This represents a $6.44 dividend on an annualized basis and a yield of 7.25%. The ex-dividend date of this dividend was Monday, December 2nd. Copa’s payout ratio is 42.59%.

Institutional Investors Weigh In On Copa

Several large investors have recently made changes to their positions in the company. Optimist Retirement Group LLC acquired a new stake in Copa in the 3rd quarter valued at approximately $240,000. TT International Asset Management LTD bought a new stake in shares of Copa during the third quarter valued at about $4,723,000. Barclays PLC lifted its holdings in Copa by 44.2% in the third quarter. Barclays PLC now owns 24,721 shares of the transportation company’s stock worth $2,319,000 after purchasing an additional 7,576 shares during the period. Public Employees Retirement System of Ohio bought a new position in Copa in the 3rd quarter valued at about $9,764,000. Finally, Two Sigma Advisers LP increased its stake in Copa by 250.1% during the 3rd quarter. Two Sigma Advisers LP now owns 128,505 shares of the transportation company’s stock valued at $12,059,000 after buying an additional 91,805 shares during the period. Institutional investors and hedge funds 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.