easyJet (LON:EZJ) Shares Down 11.6% - Here's What Happened

Key Points

• easyJet shares fell 11.6% in mid-day trading on Wednesday, briefly hitting GBX 562 before last trading at GBX 586.60, well below the prior close of GBX 663.40.
• Analyst sentiment remains mixed: recent reports included upgrades and downgrades, with the stock carrying an average “Hold” rating and a consensus target price of GBX 579.29.
• The company’s latest earnings showed GBX (50.10) EPS on revenue of GBX 395 million, while easyJet’s valuation metrics include a market cap of £4.38 billion and a P/E ratio of 10.84.

easyJet plc (LON:EZJ - Get Free Report) was down 11.6% during mid-day trading on Wednesday . The company traded as low as GBX 562 and last traded at GBX 586.60. 20,085,963 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 36,813,891 shares. The stock had previously closed at GBX 663.40.

Analyst Ratings Changes

EZJ has been the topic of several analyst reports. JPMorgan Chase & Co. upped their target price on easyJet from GBX 340 to GBX 360 and gave the company an "underweight" rating in a report on Friday, July 3rd. UBS Group restated a "buy" rating and set a GBX 635 price objective on shares of easyJet in a report on Monday, May 18th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a GBX 600 price target on shares of easyJet in a research report on Monday, July 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a "sell" rating and set a GBX 340 price target on shares of easyJet in a research report on Tuesday, June 2nd. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of GBX 579.29.

easyJet Stock Down 11.6%

The company has a debt-to-equity ratio of 82.36, a current ratio of 1.10 and a quick ratio of 1.09. The company has a 50 day moving average of GBX 504.08 and a 200-day moving average of GBX 452.94. The company has a market cap of £4.38 billion, a P/E ratio of 10.84, 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 data on Thursday, May 21st. The company reported GBX (50.10) earnings per share (EPS) for the quarter. The company had revenue of GBX 395 million for the quarter. easyJet had a return on equity of 11.57% and a net margin of 3.93%. On average, equities analysts predict that easyJet plc will post 67.3369565 earnings per share for the current year.

easyJet Company Profile

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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