Jet2 Initiates Share Buyback Program with Purchase of 120,050 Shares

Jet2 PLC ( (GB:JET2) ) just unveiled an update.

Jet2 plc has announced the purchase of 120,050 ordinary shares as part of its share buyback program, which was authorized by shareholders at the company’s Annual General Meeting. The shares were bought at an average price of £17.4592 and will be canceled, reducing the total number of shares in issue to 213,517,562. This move is part of Jet2’s strategy to manage its capital structure and potentially enhance shareholder value.

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 that includes Jet2holidays, the UK’s leading provider of ATOL protected package holidays to destinations across the Mediterranean, Canary Islands, and European Leisure Cities. It also operates Jet2.com, the UK’s third largest airline by passenger numbers, specializing in scheduled holiday flights. The company operates from 13 UK airport bases, including major airports such as London Stansted, Manchester, and Birmingham.

Average Trading Volume: 727,414

Technical Sentiment Signal: Buy

Current Market Cap: £3.63B

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