What is Zacks Research's Forecast for Copa FY2024 Earnings?

Copa Holdings, S.A. (NYSE:CPA - Free Report) - Research analysts at Zacks Research cut their FY2024 earnings per share estimates for Copa in a research note issued on Wednesday, December 4th. Zacks Research analyst M. Basu now anticipates that the transportation company will earn $14.64 per share for the year, down from their prior estimate of $14.77. The consensus estimate for Copa's current full-year earnings is $14.48 per share. Zacks Research also issued estimates for Copa's Q1 2025 earnings at $4.90 EPS, Q2 2025 earnings at $3.29 EPS, Q2 2026 earnings at $4.14 EPS, Q3 2026 earnings at $4.29 EPS and FY2026 earnings at $17.42 EPS.

Other equities research analysts have also recently issued reports about the company. StockNews.com cut Copa from a "buy" rating to a "hold" rating in a research report on Monday, November 25th. JPMorgan Chase & Co. decreased their price objective on Copa from $180.00 to $175.00 and set an "overweight" rating on the stock in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $148.83.

Copa Stock Performance

Shares of Copa stock traded down $2.01 during trading on Monday, hitting $87.62. 429,206 shares of the company's stock traded hands, compared to its average volume of 289,965. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.09 and a quick ratio of 0.99. Copa has a 1 year low of $80.01 and a 1 year high of $114.00. The stock has a market capitalization of $3.45 billion, a P/E ratio of 5.93, a PEG ratio of 0.70 and a beta of 1.45. The business has a 50-day simple moving average of $96.98 and a 200-day simple moving average of $93.92.

Copa (NYSE:CPA - Get Free Report) last released its earnings results on Wednesday, November 20th. The transportation company reported $3.50 EPS for the quarter, topping 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 firm had revenue of $854.71 million for the quarter, compared to analysts' expectations of $864.90 million. During the same period in the prior year, the firm posted $4.39 earnings per share. The company's quarterly revenue was down 1.5% on a year-over-year basis.

Hedge Funds Weigh In On Copa

Institutional investors have recently added to or reduced their stakes in the company. Bell Investment Advisors Inc grew its holdings in Copa by 29.6% during the 3rd quarter. Bell Investment Advisors Inc now owns 626 shares of the transportation company's stock valued at $59,000 after buying an additional 143 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Copa in the 3rd quarter worth approximately $82,000. Rhumbline Advisers boosted its holdings in shares of Copa by 69,000.0% in the 2nd quarter. Rhumbline Advisers now owns 1,382 shares of the transportation company's stock worth $132,000 after purchasing an additional 1,380 shares during the period. Optimist Retirement Group LLC purchased a new position in shares of Copa in the 3rd quarter worth approximately $240,000. Finally, Mackenzie Financial Corp boosted its holdings in shares of Copa by 29.3% in the 2nd quarter. Mackenzie Financial Corp now owns 2,690 shares of the transportation company's stock worth $256,000 after purchasing an additional 610 shares during the period. Hedge funds and other institutional investors own 70.09% of the company's stock.

Copa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 7.35%. The ex-dividend date of this dividend is Monday, December 2nd. Copa's dividend payout ratio is presently 42.59%.

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.