Copa (NYSE:CPA) Announces Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Copa (NYSE:CPA) released its quarterly earnings results on Wednesday. The transportation company reported $4.20 EPS 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

CPA traded up $3.05 during midday trading on Wednesday, reaching $126.26. The company had a trading volume of 270,259 shares, compared to its average volume of 297,643. Copa has a 12-month low of $82.54 and a 12-month high of $130.00. The business has a 50-day moving average price of $122.64 and a two-hundred day moving average price of $114.05. The stock has a market cap of $5.20 billion, a PE ratio of 8.21, a P/E/G ratio of 1.08 and a beta of 1.30. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.04.

Hedge Funds Weigh In On Copa

Several institutional investors and hedge funds have recently bought and sold shares of CPA. US Bancorp DE increased its position in Copa by 90.2% in the third quarter. US Bancorp DE now owns 253 shares of the transportation company’s stock worth $30,000 after buying an additional 120 shares during the last quarter. Triumph Capital Management bought a new stake in Copa in the 3rd quarter valued at about $36,000. Advisory Services Network LLC bought a new stake in Copa in the 3rd quarter valued at about $50,000. Transamerica Financial Advisors LLC purchased a new stake in Copa during the second quarter valued at about $115,000. Finally, State of Wyoming bought a new position in Copa during the second quarter worth about $192,000. 70.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CPA. TD Cowen upped their target price on shares of Copa from $144.00 to $147.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Raymond James Financial set a $164.00 price objective on shares of Copa and gave the stock a “strong-buy” rating in a research report on Monday, November 3rd. 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. Citigroup cut their target price on Copa from $159.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, August 22nd. Finally, Evercore ISI increased their price target on Copa from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Monday, September 29th. One 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 MarketBeat.com, Copa currently has an average rating of “Buy” and a consensus price target of $157.67.

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.