Copa (NYSE:CPA) Posts Earnings Results, Beats Expectations By $0.11 EPS

Copa (NYSE:CPA) released its quarterly earnings results on Wednesday. The transportation company reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.11, Briefing.com reports. Copa had a return on equity of 36.59% and a net margin of 16.42%. The firm had revenue of $819.40 million for the quarter, compared to the consensus estimate of $838.13 million. During the same quarter last year, the business posted $3.92 EPS. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year.

Copa Price Performance

Shares of CPA traded up $0.63 during mid-day trading on Friday, hitting $88.12. The company’s stock had a trading volume of 338,882 shares, compared to its average volume of 279,312. The firm has a market capitalization of $3.47 billion, a P/E ratio of 6.34, a P/E/G ratio of 0.42 and a beta of 1.47. The company has a current ratio of 0.99, a quick ratio of 0.90 and a debt-to-equity ratio of 0.58. The firm has a 50-day simple moving average of $92.93 and a 200 day simple moving average of $98.07. Copa has a 1-year low of $78.12 and a 1-year high of $114.00.

Copa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be given a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 7.31%. The ex-dividend date of this dividend is Friday, August 30th. Copa’s payout ratio is 46.33%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Evercore ISI lowered their target price on shares of Copa from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday. Morgan Stanley initiated coverage on shares of Copa in a research note on Friday, May 24th. They issued an “overweight” rating and a $140.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a report on Thursday. TD Cowen lowered their price target on Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Friday. Finally, Raymond James upped their price objective on Copa from $165.00 to $168.00 and gave the company a “strong-buy” rating in a research note on Friday, May 17th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Copa presently has a consensus rating of “Buy” and an average price target of $148.00.

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.