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

Jet2 plc (LON:JET2 - Get Free Report)'s stock price dropped 9.9% during mid-day trading on Wednesday . The company traded as low as GBX 1,644 ($22.34) and last traded at GBX 1,644 ($22.34). Approximately 2,149,624 shares changed hands during mid-day trading, an increase of 110% from the average daily volume of 1,023,802 shares. The stock had previously closed at GBX 1,825 ($24.80).

Wall Street Analysts Forecast Growth

JET2 has been the subject of a number of research reports. Canaccord Genuity Group increased their price target on shares of Jet2 from GBX 2,200 ($29.90) to GBX 2,325 ($31.60) and gave the company a "buy" rating in a report on Wednesday. Royal Bank Of Canada reiterated an "outperform" rating and set a GBX 2,200 ($29.90) target price on shares of Jet2 in a research report on Thursday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Jet2 has an average rating of "Buy" and an average target price of GBX 2,152 ($29.25).

Jet2 Trading Up 1.0%

The business's 50 day moving average price is GBX 1,790.36 and its two-hundred day moving average price is GBX 1,544.60. 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 company has a market capitalization of £3.54 billion, a price-to-earnings ratio of 8.88, a P/E/G ratio of 9.34 and a beta of 2.27.

Jet2 (LON:JET2 - Get Free Report) last posted its quarterly earnings results on Wednesday, July 9th. The company reported GBX 213.10 ($2.90) earnings per share for the quarter. Jet2 had a net margin of 6.38% and a return on equity of 26.53%. On average, equities analysts predict that Jet2 plc will post 170.9134615 earnings per share 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.