Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

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


News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

Travel Stocks Hammered as Coronavirus Spreads Globally -- 2nd Update

share with twitter share with LinkedIn share with facebook
share via e-mail
02/24/2020 | 12:15pm EDT

By Chitra Somayaji and Anna Hirtenstein

Shares of airlines and travel companies around the world plunged Monday, led by American Airlines Group Inc. and easyJet PLC, on speculation that authorities may crack down on movement after the biggest outbreak of coronavirus outside Asia emerged in Italy.

American Airlines was the biggest loser in the S&P 500, dropping 9.3%. Norwegian Cruise Line Holdings Ltd. declined 8.2%, Royal Caribbean Cruises Ltd. fell 6.6% and Delta Air Lines Inc. was down 6.9%.

In Europe, easyJet shares plummeted 16%, their biggest drop since the U.K. voted to leave the EU in June 2016. The decline made the U.K. airline the worst performer in the pan-continental Stoxx Europe 600 index. Ryanair slid 12%, while Air France and Deutsche Lufthansa both tumbled 8.4%.

The declines came amid a broader selloff in global markets, with oil prices and stocks around the world retreating sharply as new pockets of the coronavirus infection came to light in South Korea, Italy and Iran.

That has sharpened anxieties about the global economic impact of the outbreak, which already shows signs of curtailing manufacturing and consumption in China, the world's second-biggest economy.

"The coronavirus numbers increasing so much in Italy and in the Middle East has given concerns that maybe this will take much more time to contain than first expected," said Henrik Drusebjerg, chief strategist at Danske Bank Wealth Management.

"Investors now fear that this is not just a Q1 thing, it could easily also be in Q2 and Q3 and the overall growth impact will be much more severe than first thought. This hits companies with the most global exposure, such as airlines and travel."

The pace of the coronavirus spread was previously thought to be slowing, but a c hange in the way the disease is diagnosed resulted in a sharp increase in cases. Roughly 200 people have been infected by the virus in Italy, which reported a sixth death from the pathogen on Monday, in a crisis that is likely to test Europe's open borders and easy travel in coming weeks. Authorities imposed quarantines and other restrictions in Italy's economic heartland, and officials in other regions are banning or restricting activities in an attempt to limit new infections.

"Italy's lockdown, as the country tries to control the worst outbreak of the virus in Europe, has caused investors to panic about how business and society will be affected," analysts at AJ Bell said in a note. The drop in travel stocks suggests that "investors are fearful that consumers and business people may lose their appetite to travel."

Write to Anna Hirtenstein at anna.hirtenstein@wsj.com


Stocks mentioned in the article
ChangeLast1st jan.
AIR FRANCE-KLM 2.94% 5.118 Real-time Quote.-48.43%
DJ INDUSTRIAL 7.73% 22679.99 Delayed Quote.-26.23%
EASYJET PLC 15.83% 550.2 Delayed Quote.-61.22%
NASDAQ 100 7.35% 8081.662743 Delayed Quote.-13.80%
NASDAQ COMP. 7.33% 7913.238014 Delayed Quote.-17.83%
RYANAIR HOLDINGS PLC 13.48% 9.746 Delayed Quote.-33.38%
S&P 500 7.03% 2663.68 Delayed Quote.-22.97%
TUI AG 5.42% 3.81 Delayed Quote.-66.58%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on EASYJET PLC
04/06UK shares surge as slowing COVID-19 deaths calm mood
04/06EASYJET : founder steps up battle with management over Airbus order
04/06EASYJET : founder steps up battle with management over Airbus order
04/06EASYJET : requests draw down of $500 million credit facility, explores more fund..
04/02BA suspends more than 30,000 staff, owner scraps dividend
04/02Airlines facing what official calls 'deepest crisis ever'
04/02EASYJET : founder calls for removal of non-executive director
04/02EASYJET : Credit Suisse reiterates its Buy rating
03/31Airlines ground flights, count mounting costs of the coronavirus shock
03/31INTERNATIONAL CONSOLIDATED AIRLINES : British Airways suspending flights from Ga..
More news
Financials (GBP)
Sales 2020 5 420 M
EBIT 2020 41,1 M
Net income 2020 30,4 M
Debt 2020 1 233 M
Yield 2020 5,79%
P/E ratio 2020 -59,6x
P/E ratio 2021 5,39x
EV / Sales2020 0,57x
EV / Sales2021 0,45x
Capitalization 1 876 M
Duration : Period :
easyJet plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends EASYJET PLC
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 1 123,91  GBp
Last Close Price 475,00  GBp
Spread / Highest target 279%
Spread / Average Target 137%
Spread / Lowest Target -5,26%
EPS Revisions
Johan Peter Lundgren Chief Executive Officer & Director
Robert John Orr Barton Non-Executive Chairman
Peter Brendan Bellew Chief Operating Officer
Andrew Robert Findlay Chief Financial Officer & Executive Director
Sam Kini Chief Data & Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
EASYJET PLC-61.22%2 807
DELTA AIR LINES, INC.-61.83%18 188
ANA HOLDINGS INC.-2.36%10 478