Jet2 (LON:JET2) Shares Down 0.6% – Time to Sell?

Shares of Jet2 plc (LON:JET2) dropped 0.6% during mid-day trading on Wednesday . The stock traded as low as GBX 1,565 ($19.74) and last traded at GBX 1,565 ($19.74). Approximately 340,046 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 851,184 shares. The stock had previously closed at GBX 1,575 ($19.87).

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Canaccord Genuity Group increased their price objective on Jet2 from GBX 1,900 ($23.97) to GBX 2,050 ($25.86) and gave the stock a “buy” rating in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft increased their price target on Jet2 from GBX 2,240 ($28.26) to GBX 2,385 ($30.09) and gave the stock a “buy” rating in a report on Friday, November 22nd.

Jet2 Price Performance

The company has a market cap of £2.98 billion, a price-to-earnings ratio of 7.46, a PEG ratio of 9.34 and a beta of 2.27. The company has a 50-day simple moving average of GBX 1,530.44 and a 200-day simple moving average of GBX 1,475.48. The company has a debt-to-equity ratio of 103.30, a quick ratio of 1.49 and a current ratio of 1.36.

Jet2 (LON:JET2) last released its earnings results on Thursday, November 21st. The company reported GBX 279.30 ($3.52) EPS for the quarter. Jet2 had a return on equity of 26.53% and a net margin of 6.38%. As a group, research analysts predict that Jet2 plc will post 170.9134615 earnings per share for the current year.

Jet2 Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, February 7th. Shareholders of record on Thursday, January 2nd were issued a GBX 4.40 ($0.06) dividend. This represents a yield of 0.31%. The ex-dividend date was Thursday, January 2nd. Jet2’s dividend payout ratio (DPR) is 8.02%.

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.