Jet2 (LON:JET2) Releases Earnings Results

Jet2 (LON:JET2) issued its quarterly earnings results on Wednesday. The company reported GBX 211.20 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 Trading Up 2.8%

Shares of JET2 opened at GBX 1,486.36 on Friday. The stock has a fifty day moving average price of GBX 1,227.38 and a two-hundred day moving average price of GBX 1,233.12. The company has a debt-to-equity ratio of 14.00, a quick ratio of 1.49 and a current ratio of 1.36. The company has a market cap of £2.69 billion, a price-to-earnings ratio of 6.35, a PEG ratio of 9.34 and a beta of 1.46. Jet2 has a 52-week low of GBX 980 and a 52-week high of GBX 1,748.

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.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on JET2 shares. Jefferies Financial Group restated a “buy” rating and set a GBX 1,800 price objective on shares of Jet2 in a report on Wednesday, April 29th. Royal Bank Of Canada increased their price target on shares of Jet2 from GBX 1,800 to GBX 1,900 and gave the stock an “outperform” rating in a research report on Thursday. JPMorgan Chase & Co. dropped their target price on Jet2 from GBX 1,300 to GBX 1,200 and set a “neutral” rating for the company in a report on Tuesday, May 5th. UBS Group restated a “buy” rating and set a GBX 1,660 target price on shares of Jet2 in a research report on Friday, July 3rd. Finally, Canaccord Genuity Group decreased their price target on Jet2 from GBX 1,900 to GBX 1,750 and set a “buy” rating on the stock in a research note on Wednesday. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of GBX 1,638.14.

Jet2 announced that its board has authorized a share buyback plan on Wednesday, July 8th that allows the company to buyback 0 shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

About Jet2

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.