Copa Holdings, S.A. (NYSE:CPA) was the recipient of a large decline in short interest in August. As of August 31st, there was short interest totalling 1,020,100 shares, a decline of 8.6% from the July 31st total of 1,116,400 shares. Currently, 3.3% of the shares of the stock are short sold. Based on an average trading volume of 323,300 shares, the short-interest ratio is presently 3.2 days.
Several institutional investors and hedge funds have recently modified their holdings of CPA. FIL Ltd increased its stake in shares of Copa by 57.5% in the 1st quarter. FIL Ltd now owns 2,223,758 shares of the transportation company’s stock valued at $179,258,000 after purchasing an additional 811,463 shares during the last quarter. JPMorgan Chase & Co. grew its position in Copa by 33.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,350,989 shares of the transportation company’s stock worth $226,870,000 after acquiring an additional 590,832 shares during the last quarter. Bamco Inc. NY grew its position in Copa by 89.5% during the 2nd quarter. Bamco Inc. NY now owns 776,239 shares of the transportation company’s stock worth $75,738,000 after acquiring an additional 366,623 shares during the last quarter. Provida Pension Fund Administrator bought a new stake in Copa during the 2nd quarter worth $28,135,000. Finally, Brandes Investment Partners LP grew its position in Copa by 48.7% during the 2nd quarter. Brandes Investment Partners LP now owns 986,970 shares of the transportation company’s stock worth $96,299,000 after acquiring an additional 323,251 shares during the last quarter. Institutional investors own 68.88% of the company’s stock.
CPA has been the subject of several analyst reports. ValuEngine cut Copa from a “sell” rating to a “strong sell” rating in a report on Saturday. Barclays initiated coverage on Copa in a report on Monday, July 29th. They issued an “overweight” rating and a $122.00 price objective for the company. Evercore ISI raised Copa from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $110.00 to $115.00 in a report on Tuesday, August 27th. Buckingham Research lifted their price objective on Copa from $119.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, Stifel Nicolaus lifted their price objective on Copa from $90.00 to $95.00 and gave the company a “hold” rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. Copa currently has an average rating of “Hold” and an average target price of $108.50.
Shares of CPA traded down $2.98 during midday trading on Friday, hitting $98.59. The company’s stock had a trading volume of 463,964 shares, compared to its average volume of 295,240. Copa has a one year low of $67.38 and a one year high of $113.62. The company’s fifty day simple moving average is $102.51 and its two-hundred day simple moving average is $92.74. The company has a quick ratio of 0.87, a current ratio of 0.96 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 0.80 and a beta of 1.36.
Copa (NYSE:CPA) last issued its quarterly earnings results on Wednesday, August 7th. The transportation company reported $1.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.15. Copa had a return on equity of 12.35% and a net margin of 1.59%. The company had revenue of $645.10 million for the quarter, compared to analyst estimates of $625.92 million. During the same quarter last year, the company posted $1.17 EPS. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, research analysts predict that Copa will post 8.01 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.65 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $2.60 annualized dividend and a dividend yield of 2.64%. Copa’s payout ratio is 39.88%.
Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers flights to 81 destinations in 33 countries in North, Central, and South America, as well as the Caribbean. As of April 24, 2019, it operated a fleet of 105 aircraft comprising 6 Boeing 737 MAX9s, 82 Boeing 737NGs, and 17 Embraer-190s aircraft.
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