Copa Holdings, S.A. (NYSE:CPA) to Issue $1.61 Quarterly Dividend

Copa Holdings, S.A. (NYSE:CPA) announced a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Shareholders of record on Monday, December 2nd will be paid a dividend of 1.61 per share by the transportation company on Friday, December 13th. This represents a $6.44 dividend on an annualized basis and a yield of 6.92%. The ex-dividend date of this dividend is Monday, December 2nd.

Copa has increased its dividend by an average of 60.1% per year over the last three years. Copa has a payout ratio of 38.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Copa to earn $16.05 per share next year, which means the company should continue to be able to cover its $6.44 annual dividend with an expected future payout ratio of 40.1%.

Copa Price Performance

Shares of NYSE CPA opened at $93.04 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.98 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $3.67 billion, a PE ratio of 5.69, a PEG ratio of 0.67 and a beta of 1.48. The stock’s 50 day moving average price is $96.90 and its 200-day moving average price is $95.09. Copa has a twelve month low of $80.01 and a twelve month high of $114.00.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Evercore ISI dropped their target price on shares of Copa from $165.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. TD Cowen decreased 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. Finally, StockNews.com downgraded Copa from a “buy” rating to a “hold” rating in a research note on Saturday, November 16th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $148.83.

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.