Jet2 plc Initiates Share Buyback Program

Jet2 PLC ( (GB:JET2) ) has shared an announcement.

Jet2 plc has announced the purchase of 100,000 ordinary shares as part of its buyback program, with plans to cancel these shares, reducing the total number of shares in issue to 209,552,069. This move is part of a strategic initiative to manage the company’s capital structure and could potentially enhance shareholder value by reducing the number of shares outstanding.

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.

Average Trading Volume: 749,635

Technical Sentiment Signal: Buy

Current Market Cap: £3.8B

For detailed information about JET2 stock, go to TipRanks’ Stock Analysis page.