Copa (NYSE:CPA) Shares Gap Down – Should You Sell?

Copa Holdings, S.A. (NYSE:CPA)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $88.87, but opened at $86.70. Copa shares last traded at $87.02, with a volume of 45,292 shares changing hands.

Analyst Ratings Changes

CPA has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped 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. StockNews.com cut shares of Copa from a “buy” rating to a “hold” rating in a research report on Monday, November 25th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Copa has a consensus rating of “Buy” and a consensus price target of $148.83.

Copa Stock Down 1.5 %

The firm’s 50-day moving average price is $95.70 and its 200 day moving average price is $93.16. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 5.79, a PEG ratio of 0.72 and a beta of 1.45.

Copa (NYSE:CPA) last issued its quarterly earnings results on Wednesday, November 20th. The transportation company reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.48 by $0.02. The company had revenue of $854.71 million for the quarter, compared to analyst estimates of $864.90 million. Copa had a return on equity of 28.46% and a net margin of 18.20%. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $4.39 EPS. On average, sell-side analysts forecast that Copa Holdings, S.A. will post 14.48 EPS for the current fiscal year.

Copa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were given a dividend of $1.61 per share. The ex-dividend date was Monday, December 2nd. This represents a $6.44 dividend on an annualized basis and a yield of 7.36%. Copa’s dividend payout ratio is currently 42.59%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CPA. Bell Investment Advisors Inc boosted its holdings in Copa by 29.6% in the third quarter. Bell Investment Advisors Inc now owns 626 shares of the transportation company’s stock valued at $59,000 after acquiring an additional 143 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in Copa during the 3rd quarter worth about $82,000. Rhumbline Advisers lifted its stake in shares of Copa by 69,000.0% in the 2nd quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company’s stock valued at $132,000 after purchasing an additional 1,380 shares during the period. Optimist Retirement Group LLC acquired a new stake in Copa during the third quarter worth approximately $240,000. Finally, Mackenzie Financial Corp increased its stake in shares of Copa by 29.3% in the 2nd quarter. Mackenzie Financial Corp now owns 2,690 shares of the transportation company’s stock valued at $256,000 after acquiring an additional 610 shares in the last quarter. Institutional investors and hedge funds 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.