easyJet (LON:EZJ) Lowered to "Sector Perform" Rating by Royal Bank Of Canada

Key Points

• Royal Bank of Canada downgraded easyJet to “Sector Perform” and set a GBX 600 price target, implying 10.1% downside from the prior close.
• Analyst sentiment is mixed: easyJet has a consensus “Hold” rating and a GBX 630 target, with estimates ranging from Deutsche Bank’s GBX 340 “Sell” target to UBS’s GBX 635 “Buy” target.
• Shares opened at GBX 667.40, near their 52-week high of GBX 683.80; the airline reported quarterly revenue of GBX 395 million and a loss of GBX 50.10 per share.

easyJet (LON:EZJ - Get Free Report) was downgraded by investment analysts at Royal Bank Of Canada to a "sector perform" rating in a research note issued to investors on Friday,London Stock Exchange reports. They presently have a GBX 600 price target on the stock. Royal Bank Of Canada's price target suggests a potential downside of 10.10% from the company's previous close.

Other equities analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft restated a "sell" rating and set a GBX 340 target price on shares of easyJet in a report on Tuesday, June 2nd. JPMorgan Chase & Co. increased their price target on shares of easyJet from GBX 340 to GBX 360 and gave the company an "underweight" rating in a research note on Friday, July 3rd. Finally, UBS Group reissued a "buy" rating and issued a GBX 635 price objective on shares of easyJet in a research report on Monday, May 18th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of GBX 630.

easyJet Stock Performance

Shares of LON EZJ opened at GBX 667.40 on Friday. The stock has a 50 day moving average price of GBX 567.76 and a 200 day moving average price of GBX 463.53. easyJet has a 52 week low of GBX 332.60 and a 52 week high of GBX 683.80. The company has a debt-to-equity ratio of 82.36, a quick ratio of 1.09 and a current ratio of 1.10. The stock has a market capitalization of £4.99 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 0.59 and a beta of 1.70.

easyJet (LON:EZJ - Get Free Report) last posted its quarterly earnings results on Thursday, May 21st. The company reported GBX (50.10) earnings per share for the quarter. The company had revenue of GBX 395 million during the quarter. easyJet had a net margin of 3.93% and a return on equity of 11.57%. Analysts predict that easyJet will post 67.3369565 earnings per share for the current fiscal year.

About easyJet

We are a low-cost, European, point-to-point airline. We use our cost advantage, operational efficiency and leading positions in primary airports to deliver low fares for our customers – making great value travel accessible for everyone. We aim to provide simple, convenient travel and holidays at a competitive price with outstanding customer service. easyJet is one of the largest airlines in the world, with 347 aircraft, operating 1,099 routes across 35 countries and 160 airports.

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