Jet2 (LON:JET2) Trading 9.3% Higher Following Dividend Announcement

Shares of Jet2 plc (LON:JET2) were up 9.3% during trading on Thursday after the company announced a dividend. The stock traded as high as GBX 1,588 ($19.91) and last traded at GBX 1,550 ($19.43). Approximately 1,758,040 shares traded hands 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 issued a GBX 4.40 ($0.06) dividend. This represents a yield of 0.31%. The ex-dividend date of this dividend is Thursday, January 2nd. Jet2’s dividend payout ratio is currently 882.35%.

Analysts Set New Price Targets

JET2 has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Jet2 from GBX 2,240 ($28.08) to GBX 2,385 ($29.90) and gave the company a “buy” rating in a research note on Friday. Canaccord Genuity Group lifted their price objective on Jet2 from GBX 1,900 ($23.82) to GBX 2,050 ($25.70) and gave the stock a “buy” rating in a report on Thursday.

Jet2 Price 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 company has a debt-to-equity ratio of 103.30, a current ratio of 1.36 and a quick ratio of 1.49. The firm’s 50-day moving average is GBX 1,444.32 and its 200-day moving average is GBX 1,388.92.

Insiders Place Their Bets

In other news, insider Rachel Kentleton bought 1,801 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were bought at an average price of GBX 1,403 ($17.59) per share, for a total transaction of £25,268.03 ($31,676.11). Also, insider Angela Luger purchased 900 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was purchased 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.

Jet2 Company Profile

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.