Jet2 (LON:JET2) Shares Down 13.7% After Analyst Downgrade

Key Points

• Jet2 plc saw its share price drop by 13.7% on Thursday, trading as low as GBX 1,207 ($16.22) after closing at GBX 1,613 ($21.68).
• Despite the recent price decline, Wall Street analysts maintain a positive outlook, with multiple firms upgrading their price targets and a consensus rating of "Buy."
• Jet2 reported a net margin of 6.38% and has a market capitalization of £2.88 billion, indicating significant business size despite the stock price fluctuations.

Jet2 plc (LON:JET2 - Get Free Report)'s share price dropped 13.7% 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 1,392.03 ($18.78). Approximately 18,615,094 shares were traded during trading, an increase of 1,653% from the average daily volume of 1,061,719 shares. The stock had previously closed at GBX 1,613 ($21.76).

JET2 has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Jet2 from GBX 2,150 to GBX 2,059 and set a "buy" rating on the stock in a research report on Thursday. Canaccord Genuity Group dropped their price target on shares of Jet2 from GBX 2,335 to GBX 2,250 and set a "buy" rating on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating on shares of Jet2 in a report on Friday, July 18th. Five equities 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 Trading Up 2.3%

The company has a market capitalization of £2.91 billion, a PE ratio of 718.55, a P/E/G ratio of 9.34 and a beta of 2.27. The company has a debt-to-equity ratio of 103.30, a quick ratio of 1.49 and a current ratio of 1.36. The business has a fifty 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 posted its quarterly earnings data on Wednesday, July 9th. The company reported GBX 213.10 earnings per share (EPS) for the quarter. Jet2 had a return on equity of 26.53% and a net margin of 6.38%. Analysts expect that Jet2 plc will post 170.9134615 EPS for the current fiscal 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.