Stock Buyback Program Declared by Jet2 (LON:JET2) Board

Jet2 (LON:JET2) declared that its Board of Directors has initiated a stock buyback program on Wednesday, July 8th, RTT News reports. The company plans to buyback 0 shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Jet2 Price Performance

Shares of LON:JET2 traded up GBX 111 on Wednesday, reaching GBX 1,467. 57,336,406 shares of the company traded hands, compared to its average volume of 3,528,047. The stock has a market capitalization of £2.65 billion, a PE ratio of 6.26, a P/E/G ratio of 9.34 and a beta of 1.16. The company has a debt-to-equity ratio of 61.57, a current ratio of 1.40 and a quick ratio of 1.49. The company’s 50 day moving average is GBX 1,219.86 and its 200-day moving average is GBX 1,232.88. Jet2 has a fifty-two week low of GBX 980 and a fifty-two week high of GBX 1,855.

Jet2 (LON:JET2) last announced its earnings results on Wednesday, July 8th. The company reported GBX 211.20 earnings per share (EPS) for the quarter. Jet2 had a return on equity of 24.73% and a net margin of 6.11%. As a group, analysts anticipate that Jet2 will post 170.9134615 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on JET2 shares. Canaccord Genuity Group cut their target price on Jet2 from GBX 1,900 to GBX 1,750 and set a “buy” rating on the stock in a research note on Wednesday. Jefferies Financial Group restated a “buy” rating and set a GBX 1,800 price objective on shares of Jet2 in a research note on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Jet2 from GBX 1,596 to GBX 1,457 and set a “buy” rating for the company in a report on Friday, March 20th. Royal Bank Of Canada lowered their target price 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. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Jet2 from GBX 1,300 to GBX 1,200 and set a “neutral” rating on the stock in a research note on Tuesday, May 5th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Jet2 has an average rating of “Moderate Buy” and an average price target of GBX 1,623.86.

Key Jet2 News

Here are the key news stories impacting Jet2 this week:

• Positive Sentiment: Jet2 said summer bookings are improving, with demand rising as Middle East tensions ease and peace talks boost consumer confidence in travel demand. UK’s Jet2 says summer bookings rise 7% as Middle East tensions ease
• Positive Sentiment: The airline reported record revenues and record passenger numbers, signaling strong operational momentum and healthy trading into the summer season. Jet2 Reports Record Revenues, Sees Strong Summer Demand
• Positive Sentiment: Jet2 launched a £250 million share buyback programme, which can support earnings per share and signals management confidence in the business. Jet2 Launches £250 Million Share Buyback Programme
• Positive Sentiment: The company also highlighted expansion plans, including new routes and growth at Gatwick and other airports, which points to further capacity and revenue growth ahead. Jet2 Delivers Record Passenger Volumes and Unveils £250m Buyback Amid Gatwick Expansion
• Neutral Sentiment: Jet2 issued multiple travel updates and route announcements, reinforcing that bookings and customer activity remain active, but these were mostly informational and not material new financial news. Jet2 issues major Wednesday, July 8 bookings update
• Neutral Sentiment: Canaccord Genuity lowered its price target to GBX 1,750 from GBX 1,900, but kept a “buy” rating, so the note is mixed rather than clearly negative. Broker views

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.