Jet2 (LON:JET2) Announces Earnings Results

Jet2 (LON:JET2) issued its quarterly 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 24.73% and a net margin of 6.11%.

Jet2 Stock Up 11.5%

JET2 stock opened at GBX 1,512 on Wednesday. The company has a market cap of £2.73 billion, a price-to-earnings ratio of 6.46, a PEG ratio of 9.34 and a beta of 1.16. The company has a current ratio of 1.40, a quick ratio of 1.49 and a debt-to-equity ratio of 61.57. Jet2 has a 12 month low of GBX 980 and a 12 month high of GBX 1,855. The firm has a 50-day moving average of GBX 1,212.62 and a two-hundred day moving average of GBX 1,232.48.

Wall Street Analyst Weigh In

JET2 has been the topic of a number of recent analyst reports. Jefferies Financial Group reiterated a “buy” rating and set a GBX 1,800 target price on shares of Jet2 in a research report on Wednesday, April 29th. Canaccord Genuity Group downgraded shares of Jet2 to a “buy” rating and decreased their price objective for the company from GBX 2,350 to GBX 1,900 in a report on Wednesday, April 29th. Royal Bank Of Canada dropped their target price on shares of Jet2 from GBX 2,000 to GBX 1,800 and set an “outperform” rating on the stock in a research report on Thursday, April 30th. JPMorgan Chase & Co. reduced their price target 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. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Jet2 from GBX 1,596 to GBX 1,457 and set a “buy” rating on the stock in a research note on Friday, March 20th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of GBX 1,645.29.

Key Stories Impacting Jet2

Here are the key news stories impacting Jet2 this week:

• Positive Sentiment: Jet2 said summer bookings are up 7%, suggesting demand is holding up well despite geopolitical uncertainty and helping support revenue expectations. UK’s Jet2 says summer bookings rise 7% as Middle East tensions ease
• Positive Sentiment: The company reported record passenger numbers and revenue in its latest update, reinforcing the view that Jet2’s leisure travel business is still expanding. Jet2 reports record passenger numbers and revenue as it expands into Gatwick
• Positive Sentiment: Jet2 unveiled a £250 million share buyback programme, which can boost earnings per share and signals management confidence in the company’s outlook. Jet2 Launches £250 Million Share Buyback Programme
• Positive Sentiment: Jet2 also said booking momentum improved after US-Iran peace talks eased market concerns, which may support margins and consumer confidence. Jet2 reports holiday bookings boost after US-Iran peace talks
• Neutral Sentiment: Jet2 reported quarterly EPS of GBX 211.20, a solid results update that helps confirm recent operating strength but does not appear to be the main fresh catalyst for the move.
• Negative Sentiment: Jet2 noted that the Iran-related surge in jet fuel prices had a significant cost impact, and fuel volatility remains a risk even if near-term demand is improving. Jet2 took £400m boost from Iran war jet fuel spike

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.