Jet2 (LON:JET2) Releases Earnings Results

Jet2 (LON:JET2) released its earnings results on Wednesday. The company reported GBX 211.20 earnings per share (EPS) for the quarter, Digital Look Earnings reports. Jet2 had a return on equity of 19.92% and a net margin of 5.49%.

Jet2 Price Performance

Shares of LON JET2 traded down GBX 21 during midday trading on Thursday, hitting GBX 1,446. The company had a trading volume of 819,646 shares, compared to its average volume of 3,094,834. The firm has a market capitalization of £2.61 billion, a price-to-earnings ratio of 6.17, a price-to-earnings-growth ratio of 9.34 and a beta of 1.46. Jet2 has a twelve month low of GBX 980 and a twelve month high of GBX 1,748. The business has a 50-day simple moving average of GBX 1,227.38 and a two-hundred day simple moving average of GBX 1,233.12. The company has a quick ratio of 1.49, a current ratio of 1.36 and a debt-to-equity ratio of 14.00.

Wall Street Analyst Weigh In

JET2 has been the topic of a number of analyst reports. Canaccord Genuity Group lowered their price objective on shares of Jet2 from GBX 1,900 to GBX 1,750 and set a “buy” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. cut their price objective on shares of Jet2 from GBX 1,300 to GBX 1,200 and set a “neutral” rating for the company in a research report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Jet2 from GBX 1,596 to GBX 1,457 and set a “buy” rating for the company in a research report on Friday, March 20th. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 1,800 target price on shares of Jet2 in a report on Wednesday, April 29th. Finally, UBS Group reiterated a “buy” rating and set a GBX 1,660 price target on shares of Jet2 in a research note on Friday, July 3rd. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of GBX 1,638.14.

Jet2 announced that its Board of Directors has approved a stock buyback plan on Wednesday, July 8th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

More Jet2 News

Here are the key news stories impacting Jet2 this week:

• Positive Sentiment: Jet2 announced a £250 million share buyback program, a move that signals confidence from management and can support earnings per share by reducing share count. Jet2 Launches 250 Million Share Buyback Programme
• Positive Sentiment: Jet2 also reported record passenger volumes and record revenues, while highlighting strong summer demand and continued booking momentum, which points to healthy near-term trading conditions. Jet2 Delivers Record Passenger Volumes and Unveils 250m Buyback Amid Gatwick Expansion
• Positive Sentiment: The company said summer bookings rose 7% as Middle East tensions eased, suggesting demand has improved as geopolitical uncertainty has moderated. UK’s Jet2 says summer bookings rise 7% as Middle East tensions ease
• Positive Sentiment: Royal Bank of Canada raised its price target on Jet2 to GBX 1,900 and kept an outperform rating, reinforcing the view that the shares still have upside. Digital Look broker update
• Neutral Sentiment: Jet2 issued travel and booking updates for passengers and warned about disruption at a European airport this weekend; these appear operational in nature and are not clearly material to earnings on their own. Jet2 issues travel warning for European airport this weekend
• Neutral Sentiment: Canaccord Genuity trimmed its price target to GBX 1,750 but retained a buy rating, which is still supportive even though the target was reduced. Digital Look broker update
• Negative Sentiment: The share price may be reacting to profit-taking after a sharp run-up, as several headlines have already pointed to a strong move on improved bookings and results, leaving less room for immediate upside.

Jet2 Company Profile

Jet2 plc is a leading leisure travel group, specialising in friendly low fares from its award-winning airline, Jet2.com, and package holidays you can trust from the UK’s largest package holiday provider, Jet2holidays.
Jet2.com is the UK’s third largest airline, flying from 12 UK airports to over 70 destinations across Europe and beyond and Jet2holidays is the UK’s largest tour operator.