Q3 2024 Earnings Forecast for Copa Holdings, SA (NYSE:CPA) Issued by Zacks Research

Copa Holdings, SA (NYSE:CPA – Free Report) – Research analysts at Zacks Research raised their third-quarter 2024 earnings estimates for shares of Copa in a note issued to investors on Monday, September 23. Zacks Research analyst M. Basu now expects the transportation company to earn $3.68 per share for the quarter, up from their previous estimate of $3.64. The consensus estimate for Copa’s current full-year earnings is $14.53 per share. Zacks Research also issued estimates for Copa’s fourth-quarter 2024 earnings of $4.02 EPS, FY2024 earnings of $14.77 EPS, Q1 2025 earnings of $4.99 EPS, Q2 2025 earnings of $3.55 EPS, Q3 2025 earnings of $3.32 EPS, Q4 2025 earnings of $2.68 EPS, FY2025 earnings of $14.53 EPS, Q1 2026 earnings of $3.91 EPS and FY2026 earnings of $18.64 EPS.

Copa (NYSE:CPA – Get Free Report) last released its earnings results on Wednesday, August 7. The transportation company reported $2.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.11. The company had revenue of $819.40 million during the quarter, compared to analyst estimates of $838.13 million. Copa had a return on equity of 30.81% and a net margin of 19.31%. Copa’s quarterly revenue increased 1.3% year over year. During the same period a year ago, the company reported $3.92 EPS.

Several other research firms have also given their opinion on CPA. Evercore ISI lowered their price target on shares of Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. TD Cowen lowered their price target on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, August 9th. JPMorgan Chase & Co. lowered their price target on shares of Copa from $180.00 to $175.00 and set an “overweight” rating for the stock in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the stock in a research note on Thursday, August 8th. Finally, StockNews.com lowered Copa from a “buy” rating to a “hold” rating in a report on Wednesday, June 19th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Copa currently has an average rating of “Buy” and an average price target of $148.83.

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Copa shares fall 2.8%

Shares of NYSE:CPA opened at $90.17 on Wednesday. Copa has a one-year low of $78.12 and a one-year high of $114.00. The company has a market cap of $3.55 billion, a PE ratio of 6.49, a price-to-earnings-growth ratio of 0.57 and a beta of 1.48. The company has a fifty-day moving average price of $89.31 and a two-hundred-day moving average price of $95.95. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.98 and a quick ratio of 0.89.

Copa Institutional Trading

Hedge funds and other institutional investors have recently bought and sold shares of the company. Capital World Investors increased its stake in shares of Copa by 3.7% in the first quarter. Capital World Investors now owns 4,068,558 shares of the transportation company’s stock worth $423,781,000 after acquiring an additional 144,806 shares in the last quarter. Sprucegrove Investment Management Ltd. increased its stake in Copa by 8.3% in the 2nd quarter. Sprucegrove Investment Management Ltd. now owns 3,086,189 shares of the transportation company’s stock worth $293,743,000 after acquiring an additional 236,850 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Copa by 1.9% in the 2nd quarter. Renaissance Technologies LLC now owns 871,928 shares of the transportation company’s stock worth $82,990,000 after purchasing an additional 16,100 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Copa by 8.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 829,478 shares of the transportation company’s stock worth $78,950,000 after purchasing an additional 65,525 shares in the last quarter. Finally, Shellback Capital LP increased its position in shares of Copa by 13.9% during the second quarter. Shellback Capital LP now owns 440,000 shares of the transportation company’s stock worth $41,879,000 after purchasing an additional 53,806 shares during the period. Institutional investors own 70.09% of the company’s stock.

Copa announces dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $1.61. This represents an annualized dividend of $6.44 and a dividend yield of 7.14%. The ex-dividend date was Friday, August 30th. Copa’s dividend payout ratio (DPR) is currently 46.33%.

About Copa

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Copa Holdings, S.A., through its subsidiaries, provides 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 hub in Panama City. As of December 31, 2022, it operated a fleet of 97 aircraft, consisting of 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.

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