Jet2 (LON:JET2) Trading Down 9.9% - Here's What Happened

Jet2 plc (LON:JET2 - Get Free Report) shares fell 9.9% on Wednesday . The stock traded as low as GBX 1,644 ($22.33) and last traded at GBX 1,644 ($22.33). 2,149,624 shares changed hands during trading, an increase of 110% from the average session volume of 1,023,802 shares. The stock had previously closed at GBX 1,825 ($24.79).

Analysts Set New Price Targets

Several brokerages have recently weighed in on JET2. Royal Bank Of Canada reiterated an "outperform" rating and set a GBX 2,200 ($29.89) price target on shares of Jet2 in a research report on Thursday. Canaccord Genuity Group upped their price objective on shares of Jet2 from GBX 2,200 ($29.89) to GBX 2,325 ($31.59) and gave the stock a "buy" rating in a research report on Wednesday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of GBX 2,152 ($29.24).

Jet2 Price Performance

The company has a quick ratio of 1.49, a current ratio of 1.36 and a debt-to-equity ratio of 103.30. The business's 50-day simple moving average is GBX 1,791.54 and its 200 day simple moving average is GBX 1,545.18. The firm has a market capitalization of £3.63 billion, a P/E ratio of 9.09, a PEG ratio of 9.34 and a beta of 2.27.

Jet2 (LON:JET2 - Get Free Report) last issued its quarterly earnings results on Wednesday, July 9th. The company reported GBX 213.10 ($2.89) EPS for the quarter. Jet2 had a net margin of 6.38% and a return on equity of 26.53%. Sell-side analysts forecast 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.