Copa (NYSE:CPA) Posts Earnings Results, Beats Estimates By $0.17 EPS

Copa (NYSE:CPA) issued its quarterly earnings data on Wednesday. The transportation company reported $4.20 earnings per share for the quarter, beating analysts’ consensus estimates of $4.03 by $0.17, Zacks reports. Copa had a return on equity of 26.22% and a net margin of 18.36%.

Copa Stock Performance

Shares of CPA traded up $3.05 during trading hours on Wednesday, reaching $126.26. 269,986 shares of the company traded hands, compared to its average volume of 297,643. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.04. The stock’s fifty day moving average is $122.64 and its 200 day moving average is $114.05. Copa has a 1-year low of $82.54 and a 1-year high of $130.00. The stock has a market cap of $5.20 billion, a P/E ratio of 8.21, a price-to-earnings-growth ratio of 1.08 and a beta of 1.30.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CPA shares. Weiss Ratings reissued a “buy (b)” rating on shares of Copa in a research report on Wednesday, October 8th. Citigroup lowered their target price on shares of Copa from $159.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, August 22nd. Morgan Stanley reissued an “overweight” rating and set a $145.00 target price (up previously from $125.00) on shares of Copa in a research report on Monday, August 11th. TD Cowen upped their price target on shares of Copa from $144.00 to $147.00 and gave the company a “buy” rating in a report on Friday, August 8th. Finally, Cowen reaffirmed a “buy” rating on shares of Copa in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company’s stock. According to data from MarketBeat, Copa has an average rating of “Buy” and an average price target of $157.67.

Institutional Trading of Copa

Hedge funds have recently modified their holdings of the company. Advisory Services Network LLC acquired a new stake in shares of Copa during the 3rd quarter worth approximately $50,000. Triumph Capital Management acquired a new stake in Copa during the third quarter worth $36,000. Wasatch Advisors LP boosted its stake in Copa by 33.3% during the third quarter. Wasatch Advisors LP now owns 547,618 shares of the transportation company’s stock worth $65,068,000 after buying an additional 136,719 shares in the last quarter. Sig Brokerage LP increased its holdings in Copa by 84.4% in the 3rd quarter. Sig Brokerage LP now owns 6,479 shares of the transportation company’s stock valued at $770,000 after buying an additional 2,965 shares during the period. Finally, Qube Research & Technologies Ltd raised its stake in shares of Copa by 942.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 41,243 shares of the transportation company’s stock valued at $4,900,000 after buying an additional 37,288 shares in the last quarter. Institutional investors 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.