Jet2 (LON:JET2) Issues Earnings Results

Jet2 (LON:JET2) posted its earnings results on Wednesday. The company reported GBX 211.20 EPS for the quarter, Digital Look Earnings reports. Jet2 had a net margin of 6.11% and a return on equity of 24.73%.

Jet2 Trading Up 11.5%

JET2 stock traded up GBX 156 during trading on Wednesday, reaching GBX 1,512. 11,756,840 shares of the stock were exchanged, compared to its average volume of 3,177,435. The business has a 50 day moving average price of GBX 1,212.62 and a 200-day moving average price of GBX 1,232.48. The firm has a market capitalization of £2.73 billion, a price-to-earnings ratio of 6.46, a P/E/G 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 1 year low of GBX 980 and a 1 year high of GBX 1,855.

Analysts Set New Price Targets

Several analysts have weighed in on JET2 shares. JPMorgan Chase & Co. dropped their target price on shares of Jet2 from GBX 1,300 to GBX 1,200 and set a “neutral” rating on the stock in a research report on Tuesday, May 5th. UBS Group reiterated a “buy” rating and set a GBX 1,660 price objective on shares of Jet2 in a research note on Friday, July 3rd. Deutsche Bank Aktiengesellschaft cut their price objective on Jet2 from GBX 1,596 to GBX 1,457 and set a “buy” rating on the stock in a report on Friday, March 20th. Jefferies Financial Group restated a “buy” rating and issued a GBX 1,800 price objective on shares of Jet2 in a research note on Wednesday, April 29th. Finally, Royal Bank Of Canada decreased their target price on Jet2 from GBX 2,000 to GBX 1,800 and set an “outperform” rating for the company in a report on Thursday, April 30th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 1,645.29.

Key Jet2 News

Here are the key news stories impacting Jet2 this week:

• Positive Sentiment: Jet2 said summer bookings are up 7%, suggesting resilient travel demand even with Middle East tensions in the background. UK’s Jet2 says summer bookings rise 7% as Middle East tensions ease
• Positive Sentiment: The company reported record passenger numbers and revenue, and said it is expanding into Gatwick and adding new destinations, which supports growth expectations. Jet2 reports record passenger numbers and revenue as it expands into Gatwick
• Positive Sentiment: Jet2 launched a £250 million share buyback programme, a sign management sees value in the stock and a potential boost to shareholder returns. Jet2 Launches £250 Million Share Buyback Programme
• Neutral Sentiment: Additional coverage noted that Jet2’s bookings have gained momentum and that holiday demand improved after US-Iran peace talks, reinforcing the same positive travel-demand theme. Jet2 jumps as summer bookings gain momentum despite Middle East conflict
• Neutral Sentiment: Jet2 also announced earnings with EPS of GBX 211.20 and strong margins, which helps confirm the company’s solid financial footing. UK’s Jet2 says summer bookings rise 7% as Middle East tensions ease
• Negative Sentiment: One report highlighted that Jet2 benefited from a jet-fuel price spike tied to the Iran conflict, which could reverse if fuel costs normalize and may not be a lasting tailwind. 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.