Q2 2024 EPS Estimates for Copa Holdings, S.A. Raised by Seaport Res Ptn (NYSE:CPA)

Copa Holdings, S.A. (NYSE:CPA - Free Report) - Equities researchers at Seaport Res Ptn boosted their Q2 2024 earnings per share (EPS) estimates for Copa in a research report issued to clients and investors on Wednesday, May 15th. Seaport Res Ptn analyst D. Mckenzie now forecasts that the transportation company will post earnings per share of $3.75 for the quarter, up from their previous forecast of $3.55. The consensus estimate for Copa's current full-year earnings is $16.27 per share. Seaport Res Ptn also issued estimates for Copa's Q3 2024 earnings at $4.25 EPS, FY2024 earnings at $16.85 EPS, FY2025 earnings at $18.00 EPS and FY2026 earnings at $19.50 EPS.

A number of other equities analysts also recently weighed in on CPA. StockNews.com downgraded shares of Copa from a "buy" rating to a "hold" rating in a research note on Monday, February 12th. Evercore ISI raised their price target on Copa from $150.00 to $165.00 and gave the stock an "outperform" rating in a research note on Friday. Raymond James lifted their price target on Copa from $165.00 to $168.00 and gave the company a "strong-buy" rating in a report on Friday. Finally, TD Cowen increased their price objective on Copa from $145.00 to $160.00 and gave the stock a "buy" rating in a report on Friday. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Copa currently has an average rating of "Buy" and an average target price of $156.83.

Copa Stock Up 0.1 %

Copa stock traded up $0.14 during trading hours on Friday, hitting $109.69. The company had a trading volume of 295,742 shares, compared to its average volume of 279,529. Copa has a fifty-two week low of $78.12 and a fifty-two week high of $121.20. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.99 and a quick ratio of 0.90. The firm has a market capitalization of $4.32 billion, a P/E ratio of 7.89, a price-to-earnings-growth ratio of 0.39 and a beta of 1.40. The firm's fifty day moving average is $102.17 and its 200-day moving average is $98.88.

Copa (NYSE:CPA - Get Free Report) last released its earnings results on Wednesday, May 15th. The transportation company reported $4.19 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.92. The company had revenue of $893.47 million for 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 business's revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.99 EPS.

Institutional Investors Weigh In On Copa

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Artemis Investment Management LLP bought a new position in shares of Copa in the fourth quarter valued at approximately $4,656,000. Bailard Inc. lifted its position in Copa by 55.0% during the 4th quarter. Bailard Inc. now owns 6,200 shares of the transportation company's stock worth $659,000 after acquiring an additional 2,200 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Copa by 1,778.4% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 958 shares of the transportation company's stock valued at $103,000 after acquiring an additional 907 shares during the period. Semanteon Capital Management LP acquired a new stake in shares of Copa in the fourth quarter valued at about $1,163,000. Finally, Hsbc Holdings PLC grew its position in shares of Copa by 4.3% in the third quarter. Hsbc Holdings PLC now owns 76,336 shares of the transportation company's stock valued at $6,818,000 after purchasing an additional 3,180 shares during the last quarter. 70.09% of the stock is currently owned by institutional investors and hedge funds.

Copa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 5.87%. The ex-dividend date of this dividend is Friday, May 31st. Copa's payout ratio is 46.33%.

About Copa

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.