Jet2 (LON:JET2) Trading Down 12.2% on Analyst Downgrade

Key Points

• Jet2 plc shares dropped 12.2% following a downgrade by Canaccord Genuity Group, which lowered the price target from GBX 2,335 to GBX 2,250 while maintaining a "buy" rating.
• Despite the downgrade, Jet2 has a consensus rating of "Buy" among analysts, with a current average price target of GBX 2,221.25.
• The company recently reported earnings of GBX 213.10 per share for the quarter, reflecting a strong return on equity of 26.53% and a net margin of 6.38%.

Jet2 plc (LON:JET2 - Get Free Report) traded down 12.2% on Thursday after Canaccord Genuity Group lowered their price target on the stock from GBX 2,335 to GBX 2,250. Canaccord Genuity Group currently has a buy rating on the stock. Jet2 traded as low as GBX 1,207 ($16.22) and last traded at GBX 1,416.94 ($19.04). 19,518,779 shares were traded during mid-day trading, an increase of 1,729% from the average session volume of 1,067,003 shares. The stock had previously closed at GBX 1,613 ($21.68).

Several other equities research analysts have also recently commented on JET2. JPMorgan Chase & Co. reaffirmed an "overweight" rating on shares of Jet2 in a report on Friday, July 18th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a GBX 2,200 price target on shares of Jet2 in a report on Thursday, July 10th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Jet2 currently has an average rating of "Buy" and a consensus price target of GBX 2,221.25.

Jet2 Price Performance

The company has a debt-to-equity ratio of 103.30, a current ratio of 1.36 and a quick ratio of 1.49. The stock has a 50 day moving average price of GBX 1,669.90 and a two-hundred day moving average price of GBX 1,579.40. The firm has a market capitalization of £2.94 billion, a price-to-earnings ratio of 683.85, a PEG ratio of 9.34 and a beta of 2.27.

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

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