Jet2 plc Initiates Share Buyback Program

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

Jet2 plc has announced the purchase of 26,318 ordinary shares as part of its share buyback program. This move, authorized by shareholders, is part of a strategy to enhance shareholder value by reducing the number of shares in circulation, potentially increasing the value of remaining shares. The cancellation of these shares will leave Jet2 with 213,091,119 shares in issue, impacting shareholder calculations under FCA rules.

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.

Average Trading Volume: 684,599

Technical Sentiment Signal: Buy

Current Market Cap: £3.72B

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