Jet2 (LON:JET2) Announces Quarterly Earnings Results

Jet2 (LON:JET2) announced its quarterly earnings data on Wednesday. The company reported GBX 211.20 earnings per share 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 Performance

LON JET2 opened at GBX 1,492.75 on Wednesday. The company’s 50 day simple moving average is GBX 1,212.62 and its two-hundred day simple moving average is GBX 1,232.48. The company has a debt-to-equity ratio of 61.57, a current ratio of 1.40 and a quick ratio of 1.49. Jet2 has a 1 year low of GBX 980 and a 1 year high of GBX 1,855. The stock has a market capitalization of £2.70 billion, a PE ratio of 6.37, a P/E/G ratio of 9.34 and a beta of 1.16.

More Jet2 News

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. dropped their price target on 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. Deutsche Bank Aktiengesellschaft lowered their price objective on 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. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 1,800 price objective on shares of Jet2 in a report on Wednesday, April 29th. UBS Group reiterated a “buy” rating and issued a GBX 1,660 target price on shares of Jet2 in a research note on Friday, July 3rd. Finally, Canaccord Genuity Group cut shares of Jet2 to a “buy” rating and dropped their price target for the company from GBX 2,350 to GBX 1,900 in a research note on Wednesday, April 29th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of GBX 1,645.29.

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.