Jet2 (LON:JET2) Trading Down 14.3% on Analyst Downgrade

Key Points

• Jet2 shares dropped 14.3% after Canaccord Genuity lowered the stock's price target from GBX 2,335 to GBX 2,250.
• The company currently has a consensus rating of "Buy" from multiple analysts, with a consensus price target of GBX 2,221.25.
• Jet2 reported an earnings-per-share (EPS) of GBX 213.10 for the last quarter, with analysts projecting an EPS of 170.91 for the current fiscal year.

Jet2 plc (LON:JET2 - Get Free Report) shares traded down 14.3% on Thursday after Royal Bank Of Canada lowered their price target on the stock from GBX 2,200 to GBX 2,150. Royal Bank Of Canada currently has an outperform rating on the stock. Jet2 traded as low as GBX 1,207 ($16.28) and last traded at GBX 1,383 ($18.66). 18,978,691 shares changed hands during trading, an increase of 1,684% from the average session volume of 1,063,845 shares. The stock had previously closed at GBX 1,613 ($21.76).

A number of other analysts also recently weighed in on the stock. Canaccord Genuity Group reduced their target price on shares of Jet2 from GBX 2,335 to GBX 2,250 and set a "buy" rating on the stock in a research report on Thursday. JPMorgan Chase & Co. reissued an "overweight" rating on shares of Jet2 in a research note on Friday, July 18th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Jet2 from GBX 2,150 to GBX 2,059 and set a "buy" rating on the stock in a research note on Thursday. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Jet2 presently has an average rating of "Buy" and a consensus price target of GBX 2,127.25.

Jet2 Price Performance

The company has a current ratio of 1.36, a quick ratio of 1.49 and a debt-to-equity ratio of 103.30. The stock has a market capitalization of £2.91 billion, a PE ratio of 718.55, a price-to-earnings-growth ratio of 9.34 and a beta of 2.27. The firm has a 50 day moving average price of GBX 1,653.53 and a 200 day moving average price of GBX 1,580.08.

Jet2 (LON:JET2 - Get Free Report) last released its earnings results on Wednesday, July 9th. The company reported GBX 213.10 earnings per share (EPS) for the quarter. Jet2 had a net margin of 6.38% and a return on equity of 26.53%. Research analysts anticipate that Jet2 plc will post 170.9134615 earnings per share for the current year.

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.