Share Name Share Symbol Market Type Share ISIN Share Description
Easyjet Plc LSE:EZJ London Ordinary Share GB00B7KR2P84 ORD 27 2/7P
  Price Change % Change Share Price Shares Traded Last Trade
  -18.90 -4.59% 392.80 2,001,848 11:53:58
Bid Price Offer Price High Price Low Price Open Price
392.70 393.20 404.30 392.40 401.70
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 1,458.00 -1,036.00 -159.00 2,977
Last Trade Time Trade Type Trade Size Trade Price Currency
11:54:05 O 984 392.90 GBX

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Date Time Title Posts
29/6/202211:01Easyjet 2014 and beyond15,996
01/6/202012:21EZJ 20058,801
23/9/201923:16*** easyJet ***315
16/5/201913:31easyJet Half Year Preview 17.05.2019-
16/10/201611:59Easymoney with EZJ1

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Easyjet Daily Update: Easyjet Plc is listed in the Travel & Leisure sector of the London Stock Exchange with ticker EZJ. The last closing price for Easyjet was 411.70p.
Easyjet Plc has a 4 week average price of 383.30p and a 12 week average price of 383.30p.
The 1 year high share price is 974.80p while the 1 year low share price is currently 383.30p.
There are currently 758,010,049 shares in issue and the average daily traded volume is 7,170,155 shares. The market capitalisation of Easyjet Plc is £2,994,139,693.55.
danvandan: The shares are being dumped bigtime. Jasonpugh has probably expired due to all the mustard sandwiches that he's agreed to eat, despite his allergy. He will be missed. Meanwhile, recession is rushing towards us, consumers are tightening belts and easyjet's future profits are smaller and being pushed further into the future. Current market cap is £3.2m. If the business makes half what it made in 2019, a record year for flying, then that will be about £180m. On a forward p/e of say 12 (given the demonstrably high risk nature of easyjet's business) I reckon a market cap of £2.2bn might be fair (shareprice of £2.80). That's assuming there isn't a complete collapse in consumer sentiment, because if that happens, all bets are off and the share price drop could well overshoot below £2. The next big move will most likely follow the release of EZJ's Q3 numbers. There'll probably be some good news in there on load factors, but the cost of compensation will be significant and the reputational damage will reduce future bookings. Because if you've got kids, why would you book flights for a family of four never knowing for sure whether they'll go ahead? How can you pay the deposit on the hotels? Why risk it? Staycations can be planned with greater certainty. Also the cost of a foreign holiday will be too much for many. Q4 will show the level of damage to consumer confidence with regard to easyjet's bookings. The EZJ share price has a lot further to fall imo.
danvandan: This was under £5 just a few days ago - no 'black swan' event needed for that. No real telling which way it'll go over the next few days, but as has been pointed out, when the market moves on from what it thinks are 'recovery stories' and realises that EZJ isn't one of them, then the share price will be valued on fundamentals. That may have happened already. The pandemic is mostly behind us. Now many investment houses are talking about coming recession. Only Apple is holding the US market up for the moment. Sandbar are the 'conviction trader' shorting eZJ at the moment and they reduced their short on Thursday, contributing about a quarter of the buy trades on that day, possibly for fear of getting burnt by another wave of optimism. They're still short almost 1% of the total share issue though (about 7m shares). Their short reduction was most probably risk management more than anything. Key aspects are two-fold. 1, in 2019, a record yr for EZJ, the business made £350m net profit. 2020, they lost a billion. 2021 they lost £800m. This year they will probably lose another £500m (already down £500m but I'm guessing a smaller loss for this quarter 3 balanced with a small profit for Q4). Maybe a profit in 2023 but it will most probably be a small one as it tries to tackle inflation and borrowing costs while also confronting a slowdown in consumer spending. So the fundamentals don't really support a bullcase based on EZJ's current market cap of £4bn. 2. The coming recession. All boats will sink on the descending tide. There is just too much going wrong right now. Inflation has been stoked by years of money printing. The Russo/Ukraine war has caused the supply shock that has now let the brakes off a runaway train of inflation. Continuously rising interest rates will hurt mortgage-holders and indebted businesses will inevitably start going broke as consumers rein-in spending. When lay-offs start, we will be on the downward roller-coaster run. Exactly when that starts is difficult to time, but the dow is down 15% from its recent peak - it may have already started. This might be the right moment to sell any EZJ spikes caused by irrational retail sentiment.
thornintheside: Share price here is almost at 2019 levels. Don't forget that EZJ has had TWO rights issues during the pandemic and issued new shares so that there are virtually twice as many now as there were in 2019. That would make today's price of 520p the same as £10.40 in 2019. EZJ has NOT LAGGED in share price recovery. The shares have nearly completely recovered. There is no 'recovery story' to be had with these shares. Look at the market cap and the price/earnings ratio. On current prices the shares are WAY OVERPRICED!!! This business lost another half a billion pounds in H1. In January the ceo said that bookings were close to 2019 levels for summer but clearly either that is untrue, or EZJ were selling seats much cheaper and costs are way higher. Either way, the ceo is running out of runway because the next quarter IS the summer season. He can't keep saying 'close to 2019 volumes' and still keep showing huge losses. I reckon it will take EZJ several years to clear its debts and become profitable. By the end of this year, I suspect the ceo will be found out and he will be gone.
km18: Easyjet (EZJ) posted interims yesterday. The low cost carrier posted a headline loss before tax of £545 million down from H1 2021: £701 million loss. Total revenue increased by 524% to £1,498 million (H1 2021: £240 million) predominantly due to an increase in capacity flown and ancillary products continuing to deliver incremental revenue. Group headline costs increased by 117% to £2,043 million (H1 2021: £941 million), primarily due to the increase in flown capacity. EasyJet has continued to allocate aircraft to the markets where we demand is at its strongest. In the second half of the year leisure and domestic routes have fully recovered with capacity at 113% and 104% of FY19 levels respectively, whilst business and city traffic continues to recover with demand currently below FY19 levels. Travel is recovering, so will revenues, profits and EPS. Share price is still roughly 50% below pre-COVID levels and has lagged other names in the sector. Like with many travel names there is a recovery story here, although near term share price lacks momentum. BUY. ...from WealthOracleAM
danvandan: You're wrong deme, the shareprice is nowhere near the pandemic low in real terms - there's been two rights issues since this share hit £4.75 (twice as many shares now). You should double today's share price to compare it to early 2020 - today's price is roughly equal to £10.60 back in 2019/20. Look at the market cap or a rebased share chart. Market cap today is about £4bn so ezj is only down about 23% from its peak share price in 2019/20 of £15 and market cap of £5.2bn. The shares are way overvalued imv. Net asset value is £3bn. This current year (2021/22) will be a third year of big losses. Q1 trading update is due in January. Annual report for last year, 2020/21 is out today. Btw, advfn has the wrong figures on shares in issue and market cap. They haven't updated with the last big rights issue numbers. FT share profile has it right; 758m shares and market cap of approx £4bn. hTtps://
danvandan: According to the H1 report, EZJ was losing an average of £38.5m a week. The full-year results show an average of £36m lost EVERY WEEK for the year, so H2 presumably was running at an average loss of £33.5m a week. That massive loss of cash was achieved even though most of Europe was open for H2. Now we have lockdowns and tighter restrictions across most of the EU and north Africa and cashburn is likely to be back to the higher levels again. If it's ONLY £35m a week the business will lose close to half a billion pounds in this quarter. Tellingly, EZJ gave NO UPDATE on this current quarter, but instead tried to distract us with a new metric - summer bookings - which are apparently up on the 2019 measure. However, EZJ refunded £200m in H2 and given that events and hotels are reporting mass cancellations, the same effect will occur for EZJ's summer bookings. Omicron maps are now springing up showing the exponential spread of this new variant, and early results from studies are indicating that the virus will reinfect people who have already had earlier covid variants. This is very troubling because the level of immunity provided by an actual covid infection was previously acknowledged by scientists as being better than the vaccines. The omicron mutations are predominantly in the spike protein, enabling reinfection, but there has been no word on the virus dna (inside the package under the spikes - the stuff that actually gets inside human cells, replicates and causes the damage) - it seems likely to me that since this is largely unchanged, omicron will be as deadly for the vulnerable as delta before it. All of this means that disease will continue to be a major factor for travel throughout 2022 and many of those summer bookings will get cancelled. EZJ is still deep in the mire and the light at the end of the tunnel is moving away; the tunnel is getting longer! So what price/earnings multiple should be attached to this risk-ridden holiday-bus company? If Q1 of this new trading year produces a £450m loss, it will wipe out any profit for the rest of the year and probably the next one too. If Q2 (Jan-March) also produces a loss, it might wipe out profit for the next three years or more. Currently, EZJ's market cap of £4bn might be valid for a business that can produce £350m a year in profits (with a small dividend) as EZJ did in 2018 and 2019, but by my reckoning we are two years away from that, and when profits return, debt will have probably doubled to £2bn or more. Dividends are many years away without another RIGHTS ISSUE. This share price should imv be somewhere around £2.50 max.
danvandan: Basic arithmetic suggests a £4.2bn market cap is very high for EZJ. It was only £5.2bn in January 2020 when the share price peaked at £15.00. Two rights issues later there's now twice as many shares. £5.60 is equivalent to £11.20 in 2019 which is only about 25% down from the shares when they peaked massively BEFORE covid arrived. Several other things you might want to bear in mind when valuing EZJ; the business has at least £1bn more debt than it had in 2019 and is making NO PROFIT. The debt pushes the enterprise value of the business easily up to where it was in 2019 (market capitalisation plus debt, minus cash) and this valuation is imv much too high considering that EZJ's immediate prospects are now very different to what they were in January 2020. Back then, EZJ made £350m annual profit, had low debt, paid dividends and was a relatively stable low margin business. NOW it makes no profit, has massive debt, will pay NO DIVIDENDS for years while it tries to pay down its debt, and will make NO PROFIT this year, and probably next year too. Even 2023 is a big unknown - I'd hope covid will be over by then, but most people thought last year that it would be over by now. So keeping all of that in mind, what exactly are you proposing as a 'low' market cap for EZJ? IMV it's already far too high and should be at most, half of its current level, probably around £2.80. When the results are out on Tuesday, all of the analysts on this share will be compelled to revise their targets down and the share price will take a massive tumble.
danvandan: Bank of America have been trading EZJ if the RNSs are to be taken at face value, and they reduced their position to practically zero a week or so ago. The RNS showing 'latest' position applies to last week; you can be sure they've been selling this week. We're at a key 'support' level now; if we break below 618p, the shareprice could go into freefall. A number of factors are weighing on the shareprice: 1. New EU/Brexit crisis with the prospect of the UK Govt's article 16 being invoked and a retaliatory threat of the annulment of the brexit deal with the EU occurring. 2. Rising covid infections and deaths across Europe, meaning that travel restrictions will remain in place or become more severe again, plus a reluctance on people generally to travel - who wants to visit Spain and walk around in a facemask all day? It's not the carefree place it used to be. Some people will do anything for a bit of sun, but many others will consider it too much trouble, especially with third jabs becoming part of the new travel requirements. 3. Rising costs; oil price is hitting EZJ along with wage inflation and airport costs. 4. Loss of business travellers; some will resume meetings abroad but a big part of this market has moved online to work digitally. Everyone is a lot more comfortable with online meetings now. 5. Debt; EZJ indebtedness is likely to be well over £2bn in loans and lease obligations and the business may still be running at a loss. 6. High shareprice; there are now twice as many shares as in 2019, so £6.30 is the new £12.60, about 20% down on the peak price of £15 back in Jan 2020 BEFORE covid hit, when EZJ paid dividends and had only small debt. So now we have a market cap of £4.9bn for a company that has massive debt, low earnings (or possible ongoing losses), rising costs, in a permanently smaller market. 7. All the good news is over. US market is open. But there's plenty of potential for yet more bad news. 8. No dividends for years to come until the debt is down to a manageable level. A p/e of 18 might have been ok for EZJ when it was a dividend payer, but not as a risk-ridden carrier. Aviation isn't like digital business (constantly expanding). EZJ's business is in a mature market without the potential for exponential growth. This share price has to come down to a more realistic level in line with its future earning potential. My view is that this has a lot further to fall, probably to around £4 and possibly lower.
rookieswingtrader2020: Well that's good - at least there is no longer any (even remote) perceived threat of an all-out disappearance of value, as their apparent comment about the rights' being "worthless" seemed to suggest. What date would you actually receive the new shares into your account - did I read somewhere that it would be Tues 28/09? You could of course sell at that point if desired, but presumably not beforehand. In theory if you are bearish and anticipate a decline in the EZJ share price between today and your actual receipt of the new shares you could hedge your position with a CFD short, although to do so would surely bring its own considerations re leverage / margin / finance costs and so may not be worth the effort and costs.
yump: As far as I’m aware the companies posted that had rights issues were not exactly in their prime before covid. Mks been dying for years. Capita low margins. Iag not exactly well managed. Comparison may not be very useful. Not that I can see the EZJ share price flying any time soon though.
Easyjet share price data is direct from the London Stock Exchange
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