Jet2 Initiates Share Buyback Program

The latest update is out from Jet2 PLC ( (GB:JET2) ).

Jet2 plc has initiated the first tranche of its share buyback program, purchasing 156,702 ordinary shares at an average price of £18.8549 per share. This move, authorized by shareholders, aims to cancel the purchased shares, potentially impacting the company’s share value and market positioning by reducing the number of shares in circulation.

The most recent analyst rating on (GB:JET2) stock is a Buy with a £1700.00 price target. To see the full list of analyst forecasts on Jet2 PLC stock, see the GB:JET2 Stock Forecast page.

Spark’s Take on GB:JET2 Stock

According to Spark, TipRanks’ AI Analyst, GB:JET2 is a Outperform.

Jet2 PLC demonstrates strong financial performance, supported by robust revenue and profitability growth, effective equity leverage, and strategic financial maneuvers like share buybacks. These strengths are somewhat offset by high liabilities and potential overbought technical indicators. The stock is undervalued, presenting an opportunity for investors, although caution is advised due to mixed technical signals.

To see Spark’s full report on GB:JET2 stock, click here.

More about Jet2 PLC

Jet2 plc is a Leisure Travel Group, comprising Jet2holidays, the UK’s leading provider of ATOL protected package holidays to leisure destinations across the Mediterranean, Canary Islands, and European Leisure Cities, and Jet2.com, the UK’s third largest airline by number of passengers flown, which specializes in scheduled holiday flights. Jet2 operates from 13 UK airport bases, including major cities like London, Manchester, and Edinburgh.

Average Trading Volume: 717,116

Technical Sentiment Signal: Buy

Current Market Cap: £3.9B

Learn more about JET2 stock on TipRanks’ Stock Analysis page.