Research Analysts Offer Predictions for Copa Holdings, S.A.’s Q2 2024 Earnings (NYSE:CPA)

Copa Holdings, S.A. (NYSE:CPA) – Analysts at Zacks Research lowered their Q2 2024 earnings per share (EPS) estimates for shares of Copa in a research report issued to clients and investors on Tuesday, June 25th. Zacks Research analyst S. Goswami now anticipates that the transportation company will post earnings of $3.46 per share for the quarter, down from their prior forecast of $3.55. The consensus estimate for Copa’s current full-year earnings is $16.52 per share. Zacks Research also issued estimates for Copa’s Q4 2024 earnings at $4.66 EPS, FY2024 earnings at $16.57 EPS, Q1 2025 earnings at $5.03 EPS and Q1 2026 earnings at $4.09 EPS.

Copa (NYSE:CPA) last posted its quarterly earnings results on Wednesday, May 15th. The transportation company reported $4.19 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.92. The firm had revenue of $893.47 million during the quarter, compared to analysts’ expectations of $866.73 million. Copa had a return on equity of 36.59% and a net margin of 16.42%. The company’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.99 earnings per share.

Other equities research analysts have also issued research reports about the stock. TD Cowen reduced their price target on shares of Copa from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Tuesday, June 18th. Morgan Stanley began coverage on shares of Copa in a report on Friday, May 24th. They set an “overweight” rating and a $140.00 target price for the company. StockNews.com downgraded shares of Copa from a “buy” rating to a “hold” rating in a research report on Wednesday, June 19th. Raymond James upped their price objective on Copa from $165.00 to $168.00 and gave the stock a “strong-buy” rating in a research note on Friday, May 17th. Finally, Evercore ISI lifted their target price on Copa from $150.00 to $165.00 and gave the company an “outperform” rating in a research report on Friday, May 17th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $154.67.

Copa Price Performance

NYSE CPA opened at $95.18 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.99 and a quick ratio of 0.90. Copa has a 1-year low of $78.12 and a 1-year high of $121.20. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of 6.85, a PEG ratio of 0.21 and a beta of 1.48. The business’s fifty day moving average price is $99.42 and its 200-day moving average price is $100.08.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Sciencast Management LP raised its position in shares of Copa by 4.0% during the first quarter. Sciencast Management LP now owns 2,627 shares of the transportation company’s stock valued at $274,000 after buying an additional 100 shares during the last quarter. Hexagon Capital Partners LLC grew its stake in Copa by 15.1% during the first quarter. Hexagon Capital Partners LLC now owns 776 shares of the transportation company’s stock valued at $81,000 after acquiring an additional 102 shares in the last quarter. SPC Financial Inc. increased its holdings in Copa by 1.1% in the 1st quarter. SPC Financial Inc. now owns 11,845 shares of the transportation company’s stock valued at $1,234,000 after acquiring an additional 130 shares during the last quarter. Coronation Fund Managers Ltd. lifted its stake in Copa by 11.3% in the 1st quarter. Coronation Fund Managers Ltd. now owns 2,763 shares of the transportation company’s stock worth $288,000 after purchasing an additional 280 shares in the last quarter. Finally, TFO Wealth Partners LLC boosted its holdings in shares of Copa by 34,300.0% during the 4th quarter. TFO Wealth Partners LLC now owns 344 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 343 shares during the last quarter. 70.09% of the stock is owned by hedge funds and other institutional investors.

Copa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 6.77%. The ex-dividend date of this dividend was Friday, May 31st. Copa’s dividend payout ratio (DPR) is presently 46.33%.

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.