Jet2 (LON:JET2) Posts Quarterly 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 net margin of 5.49% and a return on equity of 19.92%.

Jet2 Stock Performance

LON:JET2 opened at GBX 1,492 on Friday. The company has a market cap of £2.70 billion, a price-to-earnings ratio of 6.37, a PEG ratio of 9.34 and a beta of 1.46. Jet2 has a fifty-two week low of GBX 980 and a fifty-two week high of GBX 1,748. The company has a debt-to-equity ratio of 14.00, a quick ratio of 1.49 and a current ratio of 1.36. The stock has a fifty day moving average price of GBX 1,227.38 and a 200-day moving average price of GBX 1,233.12.

Analysts Set New Price Targets

A number of analysts have commented on JET2 shares. Deutsche Bank Aktiengesellschaft cut their price target on shares of Jet2 from GBX 1,596 to GBX 1,457 and set a “buy” rating for the company in a research note on Friday, March 20th. Royal Bank Of Canada boosted their price objective on shares of Jet2 from GBX 1,800 to GBX 1,900 and gave the stock an “outperform” rating in a research note on Thursday. JPMorgan Chase & Co. dropped their target price on shares of Jet2 from GBX 1,300 to GBX 1,200 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 1,800 target price on shares of Jet2 in a research note on Wednesday, April 29th. Finally, UBS Group reiterated a “buy” rating and set a GBX 1,660 price target on shares of Jet2 in a report on Friday, July 3rd. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Jet2 currently has a consensus rating of “Moderate Buy” and an average price target of GBX 1,638.14.

Jet2 announced that its board has authorized a share repurchase plan on Wednesday, July 8th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

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.