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Copa Holdings (CPA) Soars 6.4%: Is Further Upside Left in the Stock?
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Copa Holdings (CPA - Free Report) shares soared 6.4% in the last trading session to close at $93.51. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 5.9% gain over the past four weeks.
The uptick followed an upgrade from Neutral to Overweight by an analyst at JPMorgan. The upgrade was owing to the Latin American carrier's discounted valuation to its historical average and a strong balace sheet.
This holding company for Panama's national airline is expected to post quarterly earnings of $3.76 per share in its upcoming report, which represents a year-over-year change of +89.9%. Revenues are expected to be $869.41 million, up 51.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Copa Holdings, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CPA going forward to see if this recent jump can turn into more strength down the road.
Copa Holdings is a member of the Zacks Transportation - Airline industry. One other stock in the same industry, SkyWest (SKYW - Free Report) , finished the last trading session 2% higher at $20.40. SKYW has returned 10.8% over the past month.
For SkyWest, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.10. This represents a change of +11.1% from what the company reported a year ago. SkyWest currently has a Zacks Rank of #3 (Hold).
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Copa Holdings (CPA) Soars 6.4%: Is Further Upside Left in the Stock?
Copa Holdings (CPA - Free Report) shares soared 6.4% in the last trading session to close at $93.51. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 5.9% gain over the past four weeks.
The uptick followed an upgrade from Neutral to Overweight by an analyst at JPMorgan. The upgrade was owing to the Latin American carrier's discounted valuation to its historical average and a strong balace sheet.
This holding company for Panama's national airline is expected to post quarterly earnings of $3.76 per share in its upcoming report, which represents a year-over-year change of +89.9%. Revenues are expected to be $869.41 million, up 51.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Copa Holdings, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CPA going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Copa Holdings is a member of the Zacks Transportation - Airline industry. One other stock in the same industry, SkyWest (SKYW - Free Report) , finished the last trading session 2% higher at $20.40. SKYW has returned 10.8% over the past month.
For SkyWest, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.10. This represents a change of +11.1% from what the company reported a year ago. SkyWest currently has a Zacks Rank of #3 (Hold).