Copa (NYSE:CPA) Hits New 1-Year High - What's Next?

Key Points

• Copa Holdings shares reached a new 52-week high of $121.81, following upgrades in target prices from analysts, with a consensus target of $154.40.
• The company reported a profit of $3.61 per share for the last quarter, exceeding expectations, along with a revenue of $842.60 million.
• Copa recently declared a quarterly dividend of $1.61 per share, reflecting an annual yield of 5.3% and a payout ratio of 41.87%.

Shares of Copa Holdings, S.A. (NYSE:CPA - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $121.81 and last traded at $121.07, with a volume of 83189 shares. The stock had previously closed at $119.96.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. TD Cowen lifted their target price on Copa from $144.00 to $147.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Cowen reiterated a "buy" rating on shares of Copa in a report on Friday, August 8th. Morgan Stanley reiterated an "overweight" rating and issued a $145.00 target price (up from $125.00) on shares of Copa in a report on Monday, August 11th. Wall Street Zen raised Copa from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Copa in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat, Copa presently has a consensus rating of "Buy" and an average target price of $154.40.

Copa Stock Performance

The company has a market cap of $5.02 billion, a PE ratio of 7.93, a PEG ratio of 1.05 and a beta of 1.31. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average of $114.61 and a 200-day moving average of $104.43.

Copa (NYSE:CPA - Get Free Report) last announced its earnings results on Wednesday, August 6th. The transportation company reported $3.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.25 by $0.36. The company had revenue of $842.60 million for the quarter, compared to analysts' expectations of $833.12 million. Copa had a return on equity of 26.22% and a net margin of 18.36%.Copa's quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.88 earnings per share. As a group, analysts anticipate that Copa Holdings, S.A. will post 15.48 earnings per share for the current year.

Copa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a dividend of $1.61 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $6.44 annualized dividend and a dividend yield of 5.3%. Copa's payout ratio is presently 41.87%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CPA. Northern Trust Corp lifted its holdings in Copa by 19.7% during the fourth quarter. Northern Trust Corp now owns 20,850 shares of the transportation company's stock worth $1,832,000 after acquiring an additional 3,433 shares during the period. Cetera Investment Advisers bought a new stake in Copa during the fourth quarter worth $411,000. Mackenzie Financial Corp lifted its holdings in Copa by 342.4% during the fourth quarter. Mackenzie Financial Corp now owns 11,900 shares of the transportation company's stock worth $1,046,000 after acquiring an additional 9,210 shares during the period. Total Wealth Planning & Management Inc. bought a new stake in Copa during the fourth quarter worth $244,000. Finally, Range Financial Group LLC lifted its holdings in Copa by 34.8% during the first quarter. Range Financial Group LLC now owns 16,652 shares of the transportation company's stock worth $1,540,000 after acquiring an additional 4,297 shares during the period. Hedge funds and other institutional investors own 70.09% of the company's stock.

About Copa

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.

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