Copa Holdings, S.A. (NYSE:CPA) Plans $1.61 Quarterly Dividend

Copa Holdings, S.A. (NYSE:CPA) announced a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Shareholders of record on Monday, December 2nd will be paid a dividend of 1.61 per share by the transportation company on Friday, December 13th. This represents a $6.44 dividend on an annualized basis and a yield of 6.92%. The ex-dividend date of this dividend is Monday, December 2nd.

Copa has raised its dividend payment by an average of 60.1% annually over the last three years. Copa has a payout ratio of 38.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Copa to earn $16.05 per share next year, which means the company should continue to be able to cover its $6.44 annual dividend with an expected future payout ratio of 40.1%.

Copa Stock Down 12.1 %

Shares of NYSE:CPA opened at $93.04 on Friday. The business’s 50-day moving average is $96.90 and its 200-day moving average is $95.09. Copa has a 1 year low of $80.01 and a 1 year high of $114.00. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of 5.69, a P/E/G ratio of 0.67 and a beta of 1.48. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.98 and a quick ratio of 0.89.

Analyst Ratings Changes

CPA has been the topic of a number of research analyst reports. StockNews.com cut Copa from a “buy” rating to a “hold” rating in a report on Saturday, November 16th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Copa from $145.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, August 8th. TD Cowen dropped their price objective on shares of Copa from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, August 9th. JPMorgan Chase & Co. reduced their target price on Copa from $180.00 to $175.00 and set an “overweight” rating for the company in a research note on Thursday, August 29th. Finally, Evercore ISI dropped their price target on Copa from $165.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $148.83.

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.