easyJet share price: what’s the latest ahead of its full-year results?
The low-cost airline unveils its annual results next week, with investors hoping for details on its new package holiday business that could help push its share price higher.
easyJet will unveil its annual results on 19 November, with the airline expecting its full-year pre-tax profit to land between £420 million to £430 million – the upper range if its previous guidance.
The low-cost airline’s upbeat profit guidance is reflective of increased passenger numbers and progress the company has made on non-fuel cost savings. However, analysts forecast the carrier to record a 3% drop in pre-tax profit next week.
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easyJet share price could see further gains
easyJet’s stronger performance in the latter half of the year is reflected in its share price, with it climbing more than 45% since August and up 18% on a year-to-date (YTD) basis. The stock is trading at £13.01 as of 12:25 GMT on Wednesday.
Analysts from Bernstein and HSBC believe that the airline’s stock could climb even higher, issuing price targets of £13.30 and £14.50 a share in October.
Based on easyJet’s current share price, the stock has a potential upside of between 2.2% to 11.4% according to analysts.
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easyJet looks to launch package holiday business
Its annual results next week provide easyJet the opportunity to reveal details of its upcoming package holiday subsidiary that aims to fill the gap in the market left by Thomas Cook following its collapse earlier this year.
The new business, dubbed easyJet Holidays, is scheduled to launch before Christmas.
Last week, easyjet acquired Thomas Cook’s take-off and landing slots at London Gatwick and Bristol airports for £36 million.
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