Cathay Pacific Airways Limited Sponsored ADR (CPCAY)
Qatar Airways is selling its stake in Cathay Pacific for $896 million
Qatar Airways will sell its stake in Hong Kong-based Cathay Pacific Airways in a share buyback valued at $896 million, the companies announced, ending the Qatari carrier's eight-year involvement with the airline.The announcement came late Wednesday in a stock market filing by Cathay Pacific, which saw its shares gain 4.2% on the Hong Kong Stock Exchange on Thursday.Under the agreement, Qatar Airways will sell all of its holdings, which represent 9.57% of Cathay Pacific stock. The airline's other major shareholders are Swire Pacific and Air China.
Are Investors Undervaluing Cathay Pacific Airways (CPCAY) Right Now?
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Is Cathay Pacific Airways (CPCAY) Outperforming Other Transportation Stocks This Year?
Here is how Cathay Pacific Airways Ltd. (CPCAY) and LATAM (LTM) have performed compared to their sector so far this year.
Is Cathay Pacific Airways (CPCAY) Stock Undervalued Right Now?
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Cathay Pacific reports slight profit growth amid strong regional competition
Cathay Pacific Airways reported marginal full-year profit growth on Wednesday, but airfares fell because of intense competition as Asia's airlines continue to restore seat capacity after the pandemic.
Cathay Pacific Annual Profit Rises Slightly but Flags Trade Risks
The airline said its annual net profit rose slightly but flagged that trade conflicts could pose risks to its cargo business.
Cathay Pacific's 2024 profit rises marginally
Hong Kong's Cathay Pacific Airways reported a marginal rise in its full-year profit on Wednesday, following a stronger second half due to a holiday-season boost in travel demand and lower fuel prices.
Cathay Pacific In Growth Mode, Stock Is Extremely Undervalued
Cathay Pacific stock has gained roughly 35% in a year, outperforming the S&P 500, driven by capacity recovery and strategic financial moves. The airline's capacity recovery should be complete by January 2025, with significant growth in both passenger and cargo sectors. Cathay Pacific is considering new airplane orders, potentially leveraging discounts on Boeing 777-9 or Airbus A350-1000 for fleet renewal.
Recent Price Trend in Cathay Pacific Airways (CPCAY) is Your Friend, Here's Why
Cathay Pacific Airways (CPCAY) could be a great choice for investors looking to make a profit from fundamentally strong stocks that are currently on the move. It is one of the several stocks that made it through our "Recent Price Strength" screen.
All You Need to Know About Cathay Pacific Airways (CPCAY) Rating Upgrade to Strong Buy
Cathay Pacific Airways (CPCAY) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Cathay Pacific Airways (CPCAY) is on the Move, Here's Why the Trend Could be Sustainable
If you are looking for stocks that are well positioned to maintain their recent uptrend, Cathay Pacific Airways (CPCAY) could be a great choice. It is one of the several stocks that passed through our "Recent Price Strength" screen.
Why Did Cathay Pacific Stock Jump?
Cathay Pacific's stock surged 22% since August, driven by the early recall of HK$6.74 billion mandatory convertible bonds, preventing a 12% shareholder dilution. The bond recall, converting into 850 million shares, removed dilution pressure and demonstrated the company's confidence by deleveraging its balance sheet ahead of schedule. Despite the positive impact on the stock price, the bond redemption slightly raised the 2024 and 2025 price targets by $0.10 and $0.03, respectively.
