Jet2 (LON:JET2) Posts Quarterly Earnings Results

Jet2 (LON:JET2) announced its quarterly earnings data 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 4.4%

JET2 stock traded up GBX 64 during mid-day trading on Friday, hitting GBX 1,510. 1,290,475 shares of the company were exchanged, compared to its average volume of 3,081,165. Jet2 has a 12-month low of GBX 980 and a 12-month high of GBX 1,748. The firm has a market capitalization of £2.73 billion, a P/E ratio of 6.45, a PEG ratio of 9.34 and a beta of 1.46. The business has a fifty day simple moving average of GBX 1,235.98 and a 200-day simple moving average of GBX 1,235.05. The company has a quick ratio of 1.49, a current ratio of 1.36 and a debt-to-equity ratio of 14.00.

Jet2 declared that its Board of Directors has authorized a stock buyback program on Wednesday, July 8th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have recently commented on JET2. Royal Bank Of Canada lifted their price target on Jet2 from GBX 1,800 to GBX 1,900 and gave the stock an “outperform” rating in a report on Thursday. UBS Group reissued a “buy” rating and issued a GBX 1,660 price objective on shares of Jet2 in a report on Friday, July 3rd. Deutsche Bank Aktiengesellschaft reduced their target price 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. Canaccord Genuity Group decreased their target price on shares of Jet2 from GBX 1,900 to GBX 1,750 and set a “buy” rating on the stock in a report on Wednesday. Finally, Jefferies Financial Group reissued a “buy” rating and issued a GBX 1,800 price target on shares of Jet2 in a research note on Wednesday, April 29th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 1,638.14.

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.