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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Jet2 | JET2 | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 4.00 | 0.29% | 1,389.00 | 16:35:22 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1,378.00 | 1,373.00 | 1,388.00 | 1,389.00 | 1,385.00 |
| Industry Sector |
|---|
| TRAVEL & LEISURE |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 21/11/2024 | Interim | GBP | 0.044 | 02/01/2025 | 03/01/2025 | 07/02/2025 |
| 11/07/2024 | Final | GBP | 0.107 | 19/09/2024 | 20/09/2024 | 23/10/2024 |
| 23/11/2023 | Interim | GBP | 0.04 | 28/12/2023 | 29/12/2023 | 02/02/2024 |
| 06/07/2023 | Final | GBP | 0.08 | 21/09/2023 | 22/09/2023 | 25/10/2023 |
| 24/11/2022 | Interim | GBP | 0.03 | 29/12/2022 | 30/12/2022 | 03/02/2023 |
| Top Posts |
|---|
Posted at 18/3/2025 22:23 by rl14 I have to say the Cannacord Genuity summary, as with many broker notes, is extremely saccharine - not one word of critique or even mild criticism, totally subservient.This is a successful co. I agree its a great business. However the point is why is it on such a tiny multiple. Why has it spent a few years now meandering around, not doing much frankly? What is it doing wrong? what could it do better? Jet2 needs to address the issues. Something tangible needs to be done to address why the need to hold £2.2bn in cash on a seemingly indefinite basis. a) it should graduate to the full list asap- stop the posturing as a small AIM co. Jet2 is the biggest co on AIM- the average AIM market cap is £110m. Lets get on the full list then we get ETF involvement. There isn't any now. The full list is the appropriate place to be. What Jet2 is doing now, hanging around on AIM, there is zero benefit in doing this. b) Lets have a modest SHARE buyback- is the point of doing the bond buyback an answer to why the co is refusing to buyback shares? does Jet2 think it is buying time by doing the bonds? why not have a modest 10% odd share buyback in place- it is easily affordable. c) Let's look at sorting the perceived Meeson overhang. D) Let's get a cash dividend that makes sense. Back in the days of 0.5% rates Jet2 position was understandable. But those days are gone. Let's get a more reasonable yield of say at least 2.5% not this very poor 1%. |
Posted at 16/3/2025 15:20 by hardm My thoughts…Next FTSE review is due in June’25: The composition of the index is reviewed quarterly—in March, June, September, and December. During these reviews, companies may be added or removed based on their market capitalisation. The company’s intentions could possibly be stated within the Jet2 trading update April’25, with confirmation of acceptance to FTSE100 or FTSE250 in June'25. Dr James Fox – Motley Fool: “I can’t say definitely why the undervaluation might be that extreme. But UK stocks have been overlooked for some time and travel stocks are cyclical, so not always a favourite among investors. However, we’ve seen IAG surge over the past year while Jet2 has lagged. It’s possible that Jet2 is overlooked as it’s AIM-listed rather than a constituent of the FTSE 100. The stock is trading at 7.1 times projected earnings for 2025 or just 1.05 times EV-to-EBITDA. It’s phenomenally cheap”. |
Posted at 12/3/2025 09:53 by davebowler Canaccord Genuity view We think Jet2 has again shown the benefit of its ‘fortress balance sheet’ by being able to take opportunistic action (with a likely high RoI, we think), in order to buy back its outstanding part of the £387.4m 2026 convertible bond. When fully completed we think this likely has a net £1-2m improvement on net finance charges (on a full-year basis) and our forecast tweaks reflect this – and the lower share count dilution on a FY basis (in FY26E onwards). We think Jet2’s strong liquidity position and balance sheet saw management believe it was appropriate to manage the upcoming maturity – which we think also simplifies capital structure and prevents potential dilution to shareholders in future. We think this is consistent with the buy-back of £50m (notional) convertible bonds in November 2024 and £33m in February 2025. Overall, after the 19 February 2025 update on Jet2, we think that our forecast PBT growth potential (despite external pressures) demonstrates Jet2's strengths, stemming from the value of holidays - which are >80% of Jet2’s revenues – backed up by a ‘fortress balance sheet’. Key potential share price drivers Market share growth from strong customer trust, e.g., Jet2 repeat package holiday customers (>60%). Right product for consumers: Jet2 emphasises higher yield (for Jet2) end-to-end package holidays, offering customers flexibility at a predictable all-in cost. Holidays offer scope to deliver a more sustainable EPS and expand achieved PE as investors focus on the value of holidays. Strong cash, balance sheet We reaffirm our forecasts and see a normalised FY25E PBT margin of 7.8% (7.3% FY26E). It reflects our view of consumer caution and industry supply growth risks, sales pricing and cost inflation (accommodation, fuel and wages). Nevertheless, strong cash generation (after capex) sees estimated ‘own net debt’ levels modest - expanding upward share price pressure. Key differentiators: Holidays matter and a 'customer first' mindset We think data support the assertion that consumers value the annual holiday. With >80% of revenues from Holidays, Jet2 is a holiday company (not an airline) – with longer (and more resilient) forward booking trajectories and a diverse profit contribution mix. We see the shares offering: 1) cash earnings quality after reinvesting in product and market share to compound EPS; 2) sufficient cash flow to finance capex, repay debt and remain at minimal ND/EBITDA levels; and 3) headroom to invest in start-up losses in new markets (e.g. Morocco) and UK bases to compound growth as customers repeat purchase. We believe Jet2's differentiators are: 1) variable duration stays to suit each customer’s budget; 2) all-in holiday cost certainty in a ‘one-clickR |
Posted at 07/3/2025 08:54 by davebowler Share price weakness at Jet2 (JET2) provides 'compelling value' and a buying opportunity, says Peel Hunt.Analyst Alexander Paterson retained his 'buy' recommendation and target price of £22.50 on the Citywire Elite Companies AA-rated package holiday operator, which was trading up 1.1% at £13.74 on Thursday afternoon.Paterson said recent trading has been 'slightly different to what we expected' but the financial performance of the group 'remains entirely consistent with our forecasts'.Summer 2025 demand remains 'robust, although the trend to late bookings continues and holiday pricing is better than we had assumed despite 8.5% capacity growth'.His pre-tax profits forecasts remain the same and Paterson is 'encouraged by the trading of the two new bases and [believes] Jet2 offers compelling value, with recent weakness providing an excellent buying opportunity for the UK's leading tour operator'. |
Posted at 07/3/2025 07:12 by castleford tiger Might as well call this the JPM Jet2 Order Book Webinar. Conveniently has new A321Neo embedded value v 2022values: +28% (Jet2 ordered H2 21 - H2 22). Orders are not planes, but still. The existing fleet (mammoth end-of-life 737-800NG order) is performing very well too. $JET2.L Hat tip @FishtownCap on SA @castlefordtiger @James56487175 @HiddenGemsInves |
Posted at 03/3/2025 23:45 by rl14 But the point that has repeatedly been made is Jet2 is overcapitalised and has got fond of earning a very high interest income and starving s/h of return. over 40% of companies of this size in far weaker financial positions do share buybacks, Jet2 does not.I have asked around and some of the feedback I got was Jet2 only recently started doing City presentations around results, recently means 4 or 5 years ago, before they did not. They seem worried about the convertible bond and are chipping away with purchases, but why? the shares are 350p odd away from the convert price in 18months time and pay a coupon of 1.625% - they are paying 104 when why not enjoy the low rate. In the remote chance that it does convert and some stock is issued, quite frankly so what? It just seems very odd. The stock has not done much in the last 5 years ok. the big sell off recently left a bad taste. Why because there was no meat on the bone. it seemed they were trying to get the price down a bit. Things aren't that bad there is over £2bn in the bank ffs. Yes they are part way through fleet expansion, which is being funded by the sale of older aircraft and cash not via debt. Its just very weird how the co can report 279p of EPS and DPS of 4.4p with £2.2bn closing cash. It really does not make any sense to me, and defending this is defending the indefensible really. Before people respond with I bought low and it suits me, or you are looking at the short term or other nonsense attempts at personalising this - my criticism has nothing to do with portfolio - I just don't see why the co is doing this. If it is ignorance or deliberate, or greed I don't know. |
Posted at 20/12/2024 11:12 by rivaldo JET2 are one of Shares Magazine's top 10 stocks for 2025 in their new issue.Interesting extracts: "The company recently won European Airline of the Year and scores highly on review platforms TripAdvisor and Trustpilot and its excellence in this area, including during Covid when it stood out compared with several of its rivals, has enabled it gain market share and secure loyalty from existing customers. The current valuation doesn’t fully reflect Jet2’s existing business attributes, its strong balance sheet and its scope for growth." "Jet2’s jewel in the crown is its Jet2holidays arm. The UK’s largest tour operator is ATOL-licenced for more than seven million customers. Bookings for package holidays are more resilient and reliable than for flights and yet the company is currently trading at 8.9 times earnings – more akin to the valuation afforded a pure airline operation. The company’s rapid growth both before and coming out of the pandemic means this is now a large business in stock market terms. Should the lure of relaxed listing rules see it move from AIM to the Main Market, then the company would comfortably be a member of the FTSE 250 and be on the cusp of FTSE 100 membership. Any such move could act as a kicker for the share price as it boosts the profile of the shares and tracker funds are forced to buy." ".....Jet2 can fund this increase in capacity, with planned capital expenditure expected to total nearly £5.7 billion over the coming seven years, thanks to its strong balance sheet. It had more than £2 billion of net cash at the last count even if this figure is inflated by the funds the company holds as customer deposits. The long-term visibility on its trajectory also means Jet2 can achieve operating cost efficiencies and plan sensibly for the future. The company’s careful management of external risks is reflected in the fact it is70% hedged for summer 2025 for both foreign exchange (dollar and euro) and jet fuel exposure and 100% hedged for calendar year 2025 carbon emissions allowances." |
Posted at 25/11/2024 08:43 by rivaldo More good PR this morning:"No turbulence at Jet2, says AJ Bell Record half-year results from Jet2 (JET2) delivered a smooth landing for investors as the package holiday group balances profitability with well-priced breaks. The Citywire Elite Companies AA-rated company said it was on track to beat full-year guidance after the results showed revenues climbed 15% to £5bn and pre-tax profit rise 16% to £772m in the six months to the end of September. ‘Price still remains a determining factor in people’s decision making and Jet2 seems to have got the balance right between protecting its own profitability and still offering reasonable value for its customers,’ said analyst Russ Mould. Jet2’s confidence in the outlook was marked with a ‘meaningful&rs ‘The company’s hedging of fuel and currency exposure into 2025 gives both it and its shareholders decent visibility as it flies into next year,’ said Mould. ‘The company’s strong balance sheet and consistent cash generation also means it has a buffer to guard against future turbulence.’" |
Posted at 21/11/2024 09:36 by davebowler CAnaccord Genuity -We lift our FY25E PBT to £564m (vs consensus £541m) and target price 2050p after Jet2’s interims delivered £772.4m PBT (pre-FX) (+16% YoY) with H1 operating profit at £701.5m (£617.0m). PBT margin was 15.2% (15.1%) on revenues up 15.4%. PBT per seat grew to £52.0 (£50.3) with interim DPS 4.4p (4.0p). To us, this demonstrates the value of holidays - which are >80% of Jet2’s revenues – backed up by a ‘fortress balance sheet’. Summer saw Holiday volumes lift 8% YoY and resilient (+6%) pricing (flight only was -1%). Jet2 sees winter seats up 14% YoY and pricing constructive for Jet2 Holidays (‘modest increase’) at this early stage. We estimate Jet2 shares are >£6 too cheap and are still pricing in a ~38% PBT downgrade (vs our further upgrade today). We believe Jet2 continues to generate strong cash earnings and our BUY is reinforced by: the strength of Jet2’s holiday product, strong Which? reviews; its high repeat custom; wellregarded colleagues; strong returns (~27% FY25E RoE); and strong cash generation deployed to capex (for a >65% summer 2030 unencumbered fleet), convertible bond repayment (£50m on 15/11/24) and shareholder’s interim dividends. With the shares ~40% below historical PER we reiterate BUY. Key potential share price drivers Market share growth from strong customer trust, e.g., Jet2 repeat package holiday customers (>60%). Right product for consumers: Jet2 emphasises higher yield (for Jet2) end-to-end package holidays, offering customers flexibility at a predictable all-in cost. Holidays offer scope to deliver a more sustainable EPS and expand achieved PE as investors focus on the value of holidays. Strong cash, balance sheet We uplift forecasts and see a normalised FY25E PBT margin of 7.8% (7.3% FY26E). This reflects our view of consumer caution and industry supply growth risks, sales pricing and cost inflation (accommodation, fuel and wages). Nevertheless, strong cash generation (after capex) sees estimated ‘own net debt’ levels modest - expanding upward share price pressure. Key differentiators: Holidays matter and a 'customer first' mindset We think data support the assertion that consumers value the annual holiday. With >80% of revenues from Holidays, Jet2 is a holiday company (not an airline) – with longer (and more resilient) forward booking trajectories and a diverse profit contribution mix. We see the shares offering: 1) cash earnings quality after reinvesting in product and market share to compound EPS; 2) sufficient cash flow to finance capex, repay debt and remain at minimal ND/EBITDA levels; and 3) headroom to invest in new markets and UK bases (e.g. Luton in 2025) to compound growth as customers repeat purchase. We believe Jet2's differentiators are: 1) variable duration stays to suit each customer’s budget; 2) all-in holiday cost certainty in a ‘one-clickR |
Posted at 05/9/2024 12:58 by rivaldo A good, solid statement, with some optimism looking forwards.Canaccord retain their 1900p target - and they've upgraded this year's numbers to 171.1p EPS (from 167.2p EPS): "In consequence, our forecast revenues and cost mix changes and we now see FY25E PBT at £535m (was £523m), with outlook in line with management expectations" Also worth noting: "We estimate that Jet2 has the strongest balance sheet ratios in the comparator shown – so we think it can ride-out unexpected pressures and/or exploit opportunities. Its metrics are (in our view) much better placed that TUI, or easyJet." They summarise: "Jet2’s trading update demonstrates the distinctive value of holidays to us - which are >80% of revenues, backed up by a ‘Fortress Balance Sheet’. Summer has seen strong late bookings and resilient (increased +6% CGe) holiday pricing (flight-only was softer): We see FY25E PBT at £535m (and H1 PBT +13.8% YoY at £752m) and Jet2 see trading in line with management expectations. Summer 2024 seats are +12.4% YoY, on holiday bookings +8% (was +7%) YoY, flight only +17% (was +16%). Summer 2024 holiday mix is 70.2%. We see FY25E at 68.0%. We project booked holiday pricing at +6% CGe (H1) and flight-only softer (-2% CGe) for summer. Jet2 shares have relatively outperformed TUI and easyJet by 20-33% YTD but we estimate Jet2 shares are £4.5 too cheap and are still pricing in a yet unseen 30% PBT downgrade. We believe Jet2 continues to generate strong cash earnings, and our BUY is reinforced by: the strength of Jet2’s holiday product (NPS up at 69 from 66), strong Which? reviews; its strong repeat custom; well-regarded colleagues; strong returns (~25% RoE); strong FCF; ‘fortress̵ |
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