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 upped their Q3 2024 earnings estimates for shares of Copa in a note issued to investors on Monday, September 23rd. Zacks Research analyst M. Basu now expects that the transportation company will earn $3.68 per share for the quarter, up from their prior 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 Q4 2024 earnings at $4.02 EPS, FY2024 earnings at $14.77, Q1 2025 earnings at $4.99, Q2 2025 earnings at $3.55, Q3 2025 earnings. $2.25, $2.25 8 EPS, FY2025 earnings at $14.53 EPS, Q1 2026 earnings at $3.91 EPS, and FY2026 earnings at $18.64 EPS.

Copa (NYSE:CPA – Get Your Free Report ) last posted its earnings results on Wednesday, August 7th. 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 was up 1.3% on a year-over-year basis. In the same period last year, the company posted earnings per share of $3.92.

Several other research firms have also weighed in on CPA. Evercore ISI cut their price target on shares of Copa from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. TD Cowen cut 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. 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. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a research report 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 issued a strong buy rating to the company’s stock. Copa currently has an average rating of “Buy” and an average price target of $148.83, according to MarketBeat data.

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Copa stocks down 2.8%

Shares of NYSE:CPA opened at $90.17 on Wednesday. Copa has a 1 year low of $78.12 and a 1 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 stock. Capital World Investors boosted its stake in Copa by 3.7% in the first quarter. Capital World Investors now owns 4,068,558 shares of the transportation company’s stock valued at $423,781,000 after purchasing an additional 144,806 shares in the last quarter. Sprucegrove Investment Management Ltd. boosted its holdings in Copa by 8.3% in the second quarter. Sprucegrove Investment Management Ltd. now owns 3,086,189 shares of the transportation company’s stock worth $293,743,000 after purchasing an additional 236,850 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Copa by 1.9% in the second quarter. Renaissance Technologies LLC now owns 871,928 shares of the transportation company’s stock worth $82,990,000 after buying an additional 16,100 shares during the period. Dimensional Fund Advisors LP boosted its stake in Copa by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 829,478 shares of the transportation company’s stock valued at $78,950,000 after purchasing an additional 65,525 shares during the last quarter. Finally, Shellback Capital LP boosted 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 valued at $41,879,000 after purchasing an additional 53,806 shares during the period. Institutional investors own 70.09% of the company’s shares.

Copa announces dividends

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

About Copa

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Copa Holdings, SA, through its subsidiaries, provides air transport services for passengers and cargo. 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, comprising 67 Boeing 737-800 Next Generation aircraft, 9 Boeing 737-700 Next Generation, 1 Boeing 737-800 Boeing Converted Freighter and 20 737-MAX aircraft.

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