Jet2 (LON:JET2) Posts Earnings Results

Jet2 (LON:JET2) released its earnings results 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 Trading Up 8.2%

JET2 traded up GBX 111 on Wednesday, hitting GBX 1,467. The company had a trading volume of 57,336,406 shares, compared to its average volume of 3,528,047. The company has a current ratio of 1.40, a quick ratio of 1.49 and a debt-to-equity ratio of 61.57. The firm has a market cap of £2.65 billion, a P/E ratio of 6.26, a PEG ratio of 9.34 and a beta of 1.16. The company’s fifty day moving average price is GBX 1,212.62 and its 200 day moving average price is GBX 1,232.48. Jet2 has a 1 year low of GBX 980 and a 1 year high of GBX 1,855.

Analyst Upgrades and Downgrades

JET2 has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft decreased 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 reiterated a “buy” rating and issued a GBX 1,800 target price on shares of Jet2 in a research report on Wednesday, April 29th. Royal Bank Of Canada decreased their price target on shares of Jet2 from GBX 2,000 to GBX 1,800 and set an “outperform” rating on the stock in a research note on Thursday, April 30th. UBS Group restated a “buy” rating and set a GBX 1,660 price target on shares of Jet2 in a research report on Friday, July 3rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Jet2 from GBX 1,300 to GBX 1,200 and set a “neutral” rating for the company in a research note on Tuesday, May 5th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Jet2 presently has a consensus rating of “Moderate Buy” and an average target price of GBX 1,623.86.

Trending Headlines about Jet2

Here are the key news stories impacting Jet2 this week:

• Positive Sentiment: Jet2 said summer bookings are gaining momentum, with some reports citing a 7% rise in bookings as Middle East tensions eased and demand improved after US-Iran peace talks. UK’s Jet2 says summer bookings rise 7% as Middle East tensions ease
• Positive Sentiment: The company reported record passenger volumes and revenue in preliminary results, while also expanding into Gatwick and adding new routes and holiday destinations, which points to continued growth in capacity and sales. Jet2 Delivers Record Passenger Volumes and Unveils £250m Buyback Amid Gatwick Expansion
• Positive Sentiment: Jet2 launched a £250 million share buyback programme, a sign of confidence from management and a potential boost to shareholder returns. Jet2 Launches £250 Million Share Buyback Programme
• Neutral Sentiment: Jet2 also reported quarterly earnings of GBX 211.20 per share, with a net margin of 6.11% and return on equity of 24.73%, reinforcing a solid operating backdrop. Jet2 stock page and earnings data
• Neutral Sentiment: Canaccord Genuity cut its price target to GBX 1,750 from GBX 1,900, but kept a “buy” rating, so the note is only mildly tempered rather than bearish. Digital Look broker views

Jet2 Company Profile

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.