Turbulence ahead20 Apr 2021 11:43
Analysts covering easyJet plc (LON:EZJ) delivered a dose of negativity to shareholders today, by making a substantial revision to their statutory forecasts for this year. Both revenue and earnings per share (EPS) estimates were cut sharply as analysts factored in the latest outlook for the business, concluding that they were too optimistic previously.
Following the latest downgrade, the current consensus, from the 20 analysts covering easyJet, is for revenues of UK£2.0b in 2021, which would reflect a disturbing 34% reduction in easyJet's sales over the past 12 months. Losses are predicted to fall substantially, shrinking 41% to UK£1.56. Yet prior to the latest estimates, the analysts had been forecasting revenues of UK£2.4b and losses of UK£1.37 per share in 2021.