Jet2 (LON:JET2) Stock Price Up 9.3% Following Dividend Announcement

Shares of Jet2 plc (LON:JET2) were up 9.3% during mid-day trading on Thursday after the company announced a dividend. The company traded as high as GBX 1,588 ($19.91) and last traded at GBX 1,550 ($19.43). Approximately 1,758,040 shares were traded during mid-day trading, an increase of 209% from the average daily volume of 569,103 shares. The stock had previously closed at GBX 1,418 ($17.78).

The newly announced dividend which will be paid on Friday, February 7th. Investors of record on Thursday, January 2nd will be paid a dividend of GBX 4.40 ($0.06) per share. This represents a yield of 0.31%. The ex-dividend date of this dividend is Thursday, January 2nd. Jet2’s dividend payout ratio (DPR) is presently 882.35%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on JET2 shares. Deutsche Bank Aktiengesellschaft upped their price target on Jet2 from GBX 2,240 ($28.08) to GBX 2,385 ($29.90) and gave the stock a “buy” rating in a research note on Friday. Canaccord Genuity Group upped their target price on shares of Jet2 from GBX 1,900 ($23.82) to GBX 2,050 ($25.70) and gave the stock a “buy” rating in a research report on Thursday.

Jet2 Stock Performance

The company has a market capitalization of £3.25 billion, a P/E ratio of 890.00, a price-to-earnings-growth ratio of 9.34 and a beta of 2.27. The business has a 50 day moving average of GBX 1,444.32 and a 200 day moving average of GBX 1,388.92. The company has a quick ratio of 1.49, a current ratio of 1.36 and a debt-to-equity ratio of 103.30.

Insider Transactions at Jet2

In other Jet2 news, insider Rachel Kentleton purchased 1,801 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was purchased at an average price of GBX 1,403 ($17.59) per share, with a total value of £25,268.03 ($31,676.11). Also, insider Angela Luger purchased 900 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was bought at an average price of GBX 1,395 ($17.49) per share, with a total value of £12,555 ($15,739.00). Insiders own 20.92% of the company’s stock.

About Jet2

Jet2 plc, together with its subsidiaries, engages in the leisure travel business primarily in the United Kingdom. The company operates scheduled holiday flights to leisure destinations in the Mediterranean, the Canary Islands, and European Leisure Cities. It is also involved in the package holiday and non-ticket retail activities, as well as passenger and charter aircraft operations.