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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  EasyJet    EZJ   GB00B7KR2P84

EASYJET

(EZJ)
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Easyjet : shares tumble despite 'robust' forecast

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10/09/2019 | 01:21am EST

EASYJET yesterday predicted it would hit upper profit guidance of up to £430m for its full year, despite rising costs.

In a trading update, the airline said pre-tax profit would be between £420m and £430m, just off its £440m upper range prediction.

However, it warned of a 12 per cent rise in costs owing to a volatile pound and higher fuel prices.

Passenger numbers rose 8.6 per cent to 96m year on year thanks to a 10 per cent jump in capacity.

But revenue per seat is set for a 2.7 per cent drop due to a forex hit of £14m, despite increased demand after strikes by British Airways and Ryanair.

Easyjet shares slipped 4.5 per cent to 1,120p on the update and closed 7.55 per cent lower, even as analysts called the numbers "robust".

"Our implementation of initiatives in the fourth quarter to optimise yield has led to solid revenue performance with total revenue per seat at constant currency set to increase for the full year," Easyjet chief executive Johan Lundgren said.

CMC Markets chief market analyst Michael Hewson pointed to the 91.5 per cent load factor as a signal that capacity is worrying investors. "While this might improve by the end of the year it is evident that the industry still has too many seats," he said.

(c) 2019 City A.M., source Newspaper

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Financials (GBP)
Sales 2020 6 761 M
EBIT 2020 506 M
Net income 2020 377 M
Debt 2020 709 M
Yield 2020 3,48%
P/E ratio 2020 14,2x
P/E ratio 2021 12,5x
EV / Sales2020 0,89x
EV / Sales2021 0,86x
Capitalization 5 331 M
Chart EASYJET
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Technical analysis trends EASYJET
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 26
Average target price 1 262,33  GBp
Last Close Price 1 348,00  GBp
Spread / Highest target 11,3%
Spread / Average Target -6,36%
Spread / Lowest Target -29,5%
EPS Revisions
Managers
NameTitle
Johan Peter Lundgren Chief Executive Officer & Director
Robert John Orr Barton Non-Executive Chairman
Margaret Christine Browne Chief Operating Officer
Andrew Robert Findlay Chief Financial Officer & Executive Director
Sam Kini Chief Data & Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
EASYJET21.99%6 878
DELTA AIR LINES INC.14.37%36 773
UNITED AIRLINES HOLDINGS, INC.11.42%23 606
RYANAIR HOLDINGS29.30%16 886
AIR CHINA LIMITED3.98%16 231
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, SA-10.39%14 214