Copa (NYSE:CPA) Posts Quarterly Earnings Results, Misses Estimates By $0.23 EPS

Copa (NYSE:CPA) released its quarterly earnings data on Wednesday. The transportation company reported $4.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.23), Zacks reports. Copa had a return on equity of 26.39% and a net margin of 18.83%.

Copa Stock Performance

NYSE:CPA traded down $2.12 during trading hours on Wednesday, reaching $151.02. The stock had a trading volume of 313,530 shares, compared to its average volume of 374,041. The stock has a market cap of $6.22 billion, a P/E ratio of 9.39, a price-to-earnings-growth ratio of 1.73 and a beta of 0.92. The stock has a 50 day simple moving average of $128.83 and a 200 day simple moving average of $122.93. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 1.06. Copa has a 12-month low of $82.54 and a 12-month high of $156.41.

Copa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Monday, December 1st. Copa’s dividend payout ratio is 40.05%.

Institutional Investors Weigh In On Copa

Several large investors have recently added to or reduced their stakes in CPA. Squarepoint Ops LLC purchased a new position in Copa in the 3rd quarter valued at approximately $308,000. Banco BTG Pactual S.A. bought a new position in shares of Copa in the third quarter worth $421,000. Private Advisor Group LLC grew its position in shares of Copa by 5.8% in the third quarter. Private Advisor Group LLC now owns 2,158 shares of the transportation company’s stock valued at $256,000 after purchasing an additional 119 shares in the last quarter. Merit Financial Group LLC purchased a new position in shares of Copa in the third quarter valued at $208,000. Finally, Nomura Holdings Inc. bought a new stake in shares of Copa during the 2nd quarter valued at $539,000. Hedge funds and other institutional investors own 70.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CPA. JPMorgan Chase & Co. cut their price target on Copa from $180.00 to $170.00 and set an “overweight” rating on the stock in a report on Monday, December 8th. Wall Street Zen raised Copa from a “hold” rating to a “buy” rating in a report on Sunday. Itau BBA Securities initiated coverage on shares of Copa in a report on Sunday, November 30th. They issued a “market perform” rating for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Copa in a research report on Wednesday, January 21st. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $190.00 price objective on shares of Copa in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $163.50.

About Copa

Copa Holdings, SA (NYSE:CPA) is a Panama‐based aviation holding company that provides passenger and cargo air transportation across the Americas and the Caribbean. Through its principal subsidiary, Copa Airlines, the company operates a modern fleet of Boeing 737 aircraft, offering scheduled flights that connect passengers through its Tocumen International Airport hub in Panama City. The company also offers dedicated cargo services under the Copa Cargo brand, leveraging belly hold capacity on its passenger flights to transport freight throughout its network.

The roots of Copa Holdings trace back to 1947, when Compañía Panameña de Aviación began operations as the flag carrier of Panama.