Copa (NYSE:CPA) Shares Gap Down – Here’s What Happened

Copa Holdings, S.A. (NYSE:CPA) shares gapped down before the market opened 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 traded.

Wall Street Analyst Weigh In

Several analysts have recently commented on CPA shares. StockNews.com downgraded shares of Copa from a “buy” rating to a “hold” rating in a report on Monday, November 25th. JPMorgan Chase & Co. cut their price target on Copa from $180.00 to $175.00 and set an “overweight” rating on the stock in a research report on Thursday, August 29th. One research 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $148.83.

Copa Stock Up 0.3 %

The company has a debt-to-equity ratio of 0.56, a current ratio of 1.09 and a quick ratio of 0.99. The business’s 50 day moving average price is $95.34 and its 200 day moving average price is $93.03. The firm has a market cap of $3.49 billion, a PE ratio of 5.86, a PEG ratio of 0.72 and a beta of 1.45.

Copa (NYSE:CPA) last announced its earnings results on Wednesday, November 20th. The transportation company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.48 by $0.02. Copa had a return on equity of 28.46% and a net margin of 18.20%. The business had revenue of $854.71 million during the quarter, compared to analysts’ expectations of $864.90 million. During the same quarter in the prior year, the firm earned $4.39 earnings per share. The business’s revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts expect that Copa Holdings, S.A. will post 14.48 earnings per share for the current year.

Copa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were given a $1.61 dividend. This represents a $6.44 dividend on an annualized basis and a dividend yield of 7.27%. The ex-dividend date was Monday, December 2nd. Copa’s dividend payout ratio (DPR) is 42.59%.

Institutional Trading of Copa

Several large investors have recently bought and sold shares of the business. Coronation Fund Managers Ltd. increased its holdings in shares of Copa by 60.3% in the second quarter. Coronation Fund Managers Ltd. now owns 4,430 shares of the transportation company’s stock valued at $422,000 after purchasing an additional 1,667 shares during the last quarter. Bank of New York Mellon Corp increased its position in Copa by 15.1% during the second quarter. Bank of New York Mellon Corp now owns 4,336 shares of the transportation company’s stock worth $413,000 after purchasing an additional 569 shares during the last quarter. Aptus Capital Advisors LLC raised its stake in Copa by 24.6% during the second quarter. Aptus Capital Advisors LLC now owns 32,688 shares of the transportation company’s stock worth $3,111,000 after purchasing an additional 6,450 shares during the period. Rhumbline Advisers boosted its holdings in 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 last quarter. Finally, Mesirow Institutional Investment Management Inc. grew its stake in shares of Copa by 6.4% in the 2nd quarter. Mesirow Institutional Investment Management Inc. now owns 122,387 shares of the transportation company’s stock valued at $11,649,000 after buying an additional 7,415 shares during the period. Hedge funds and other institutional investors own 70.09% of the company’s stock.

Copa Company Profile

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.