Zacks Research Adjusts Copa Holdings, S.A.'s FY2023 Earnings Predictions

Zacks Research recently updated their earnings projections for Copa Holdings, S.A. (NYSE:CPA), a leading transportation company. Analyst M. Basu has raised the forecast for the company's FY2023 earnings per share (EPS) to $16.10, a slight increase from the previous estimate of $16.07. This adjustment aligns with the company's performance surpassing the average analyst consensus of $15.26 EPS for the year. Zacks Research also provided their estimates for future earnings, including $3.80 EPS for Q4 2023, and projections extending into Q3 and Q4 of 2024, as well as FY2025.

Analyst Ratings and Stock Performance

Multiple equity analysts have issued reports on Copa Holdings. StockNews.com recently downgraded their recommendation from a 'buy' to a 'hold', while TheStreet improved its rating from 'c+' to 'b'. Furthermore, Raymond James increased its price target for Copa from $152.00 to $155.00, maintaining a 'strong-buy' rating. On the stock market, Copa's shares began trading at $90.81 and have experienced fluctuations, with a 50-day moving average of $98.23 and a 200-day moving average of $97.93.

Recent Financial Performance

On November 16th, Copa disclosed its quarterly earnings, reporting a $4.39 EPS which exceeded the predicted $3.62. The company's revenue reached $867.71 million, signaling a 7.2% year-over-year growth. Additionally, Copa boasts a robust return on equity at 39.91% and a healthy net margin of 12.07%. The airline also maintains an appealing dividend policy, with a recent quarterly dividend payout of $0.82 per share, representing an annual yield of 3.61%.

Investor Activity

The article highlights Copa's shareholder base, mentioning several hedge funds and financial institutions that have adjusted or increased their stakes in the company. These include the State of Wyoming, Huntington National Bank, Advisory Services Network LLC, Tucker Asset Management LLC, and Captrust Financial Advisors.

About Copa Holdings, S.A.

Copa Holdings, S.A., through its subsidiary airlines, serves as a major provider of passenger and cargo flights. Operating from its Panama City hub, it offers around 327 daily flights to multiple destinations across the Americas. With a fleet of 97 aircraft, including various Boeing models, Copa serves as a vital link connecting several countries in North, Central, and South America, as well as the Caribbean.

Earnings, Estimates, Transportation