Copa (NYSE:CPA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “We are impressed by Copa Holdings' initiatives to modernize its fleet. To this end, the company received delivery of a Boeing 737 MAX 9 aircraft in January 2019. Apart from adding new planes, this carrier is replacing outdated ones as part of its fleet modernization efforts. The carrier sold one Embraer 190 aircraft to Azorra aviation in January. Moreover, Copa Holdings' cost cutting efforts have led to a reduction in non-fuel unit costs, which declined 5.8% in the final quarter of 2018 . Despite such positives, shares of the company have shed more than 39% of its value in a year. The company has an unimpressive earnings history having outperformed the Zacks Consensus Estimate in only one of the preceding four quarters. Its performance with respect to unit revenues is concerning as well. Additionally, the company's decision to trim dividend indicates its financial struggles.”
Other research analysts also recently issued reports about the stock. UBS Group upgraded shares of Copa from a “neutral” rating to a “buy” rating in a research report on Thursday, January 17th. JPMorgan Chase & Co. downgraded shares of Copa to a “buy” rating and set a $100.00 price objective for the company. in a research report on Friday, November 23rd. TheStreet downgraded shares of Copa from a “b” rating to a “c+” rating in a research report on Thursday, February 14th. Stifel Nicolaus upgraded shares of Copa from a “sell” rating to a “hold” rating and boosted their price objective for the company from $70.00 to $90.00 in a research report on Friday, February 15th. Finally, Cowen restated a “hold” rating and set a $85.00 price objective on shares of Copa in a research report on Sunday, November 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $98.08.
Copa (NYSE:CPA) last announced its quarterly earnings data on Wednesday, February 13th. The transportation company reported $1.04 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.02). Copa had a net margin of 3.29% and a return on equity of 13.56%. The firm had revenue of $656.06 million for the quarter, compared to analyst estimates of $660.29 million. During the same quarter in the prior year, the firm earned $2.36 earnings per share. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. As a group, analysts predict that Copa will post 7.13 earnings per share for the current year.
Several large investors have recently made changes to their positions in CPA. RWC Asset Advisors US LLC acquired a new position in shares of Copa during the fourth quarter worth $67,684,000. BlackRock Inc. increased its holdings in shares of Copa by 101.1% during the fourth quarter. BlackRock Inc. now owns 1,500,956 shares of the transportation company’s stock worth $118,141,000 after buying an additional 754,505 shares in the last quarter. Brandes Investment Partners LP acquired a new position in shares of Copa during the fourth quarter worth $34,753,000. MARSHALL WACE ASIA Ltd acquired a new position in shares of Copa during the third quarter worth $24,102,000. Finally, Baillie Gifford & Co. increased its holdings in shares of Copa by 8.7% during the third quarter. Baillie Gifford & Co. now owns 3,165,519 shares of the transportation company’s stock worth $252,735,000 after buying an additional 253,414 shares in the last quarter. Institutional investors own 63.88% of the company’s stock.
Copa Company Profile
Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers flights to 75 destinations in 31 countries in North, Central, and South America, as well as the Caribbean. As of April 12, 2018, it operated a fleet of 101 aircraft comprising 81 Boeing 737NG aircraft and 20 EMBRAER-190s aircraft.
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