$684.25 Million in Sales Expected for Copa Holdings, S.A. (CPA) This Quarter

Brokerages forecast that Copa Holdings, S.A. (NYSE:CPA) will post sales of $684.25 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Copa’s earnings, with the lowest sales estimate coming in at $668.00 million and the highest estimate coming in at $698.38 million. Copa reported sales of $657.17 million in the same quarter last year, which would suggest a positive year over year growth rate of 4.1%. The business is expected to announce its next quarterly earnings report after the market closes on Wednesday, November 14th.

According to Zacks, analysts expect that Copa will report full year sales of $2.72 billion for the current financial year, with estimates ranging from $2.69 billion to $2.76 billion. For the next financial year, analysts anticipate that the business will post sales of $2.89 billion, with estimates ranging from $2.78 billion to $3.02 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Copa.

Copa (NYSE:CPA) last posted its earnings results on Wednesday, August 8th. The transportation company reported $1.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.28 by ($0.10). Copa had a net margin of 14.58% and a return on equity of 18.08%. The business had revenue of $634.10 million for the quarter, compared to analysts’ expectations of $659.06 million. During the same period last year, the firm posted $1.48 earnings per share. Copa’s quarterly revenue was up 10.5% on a year-over-year basis.

Several brokerages recently weighed in on CPA. UBS Group cut Copa from a “buy” rating to a “neutral” rating in a research note on Friday, September 28th. Imperial Capital began coverage on Copa in a research note on Friday, October 19th. They issued an “in-line” rating and a $86.00 price target on the stock. Buckingham Research raised Copa from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $103.00 to $95.00 in a research note on Wednesday, September 12th. They noted that the move was a valuation call. Stifel Nicolaus reaffirmed a “sell” rating and issued a $70.00 price target (down from $100.00) on shares of Copa in a research note on Friday, August 10th. Finally, Cowen reduced their price target on Copa from $100.00 to $90.00 and set a “market perform” rating on the stock in a research note on Friday, September 21st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $106.80.

Shares of CPA traded up $1.85 during mid-day trading on Tuesday, hitting $70.16. 392,640 shares of the company’s stock traded hands, compared to its average volume of 541,085. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.96 and a current ratio of 1.04. Copa has a 1 year low of $67.38 and a 1 year high of $141.34. The stock has a market capitalization of $2.99 billion, a PE ratio of 8.10, a price-to-earnings-growth ratio of 1.00 and a beta of 1.65.

A number of institutional investors have recently added to or reduced their stakes in CPA. Baillie Gifford & Co. boosted its holdings in Copa by 36.4% in the second quarter. Baillie Gifford & Co. now owns 2,912,105 shares of the transportation company’s stock worth $275,543,000 after acquiring an additional 777,698 shares in the last quarter. RWC Asset Management LLP lifted its holdings in shares of Copa by 84.6% during the second quarter. RWC Asset Management LLP now owns 851,566 shares of the transportation company’s stock valued at $80,575,000 after purchasing an additional 390,266 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Copa during the second quarter valued at $32,310,000. Renaissance Technologies LLC lifted its holdings in shares of Copa by 22.4% during the second quarter. Renaissance Technologies LLC now owns 1,216,902 shares of the transportation company’s stock valued at $115,143,000 after purchasing an additional 222,302 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Copa by 141.0% during the first quarter. Millennium Management LLC now owns 262,174 shares of the transportation company’s stock valued at $33,723,000 after purchasing an additional 153,399 shares in the last quarter. 64.58% of the stock is currently owned by institutional investors and hedge funds.

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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