The New York State Common Retirement Fund has significantly reduced its investment in Ryanair Holdings PLC, cutting its holdings by 84% in the second quarter of 2023. According to the fund’s recent disclosure to the Securities and Exchange Commission, it now owns 51,075 shares of the Irish airline, a decrease of 269,116 shares from the previous quarter. As of the latest reporting period, the value of the fund’s remaining stake in Ryanair is approximately $2.95 million.
In addition to the New York State Retirement Fund, other institutional investors have also adjusted their positions in Ryanair. Metropolis Capital Ltd increased its stake by 0.8%, now holding 4,790,231 shares valued at $276.25 million. Meanwhile, the Royal Bank of Canada raised its stake by 7.3% in the first quarter, owning 3,909,138 shares worth $165.63 million after acquiring an additional 266,343 shares. JPMorgan Chase & Co. made a notable move by increasing its holdings by 23.8% during the second quarter, bringing its total to 2,800,393 shares valued at $161.50 million. Price T Rowe Associates Inc. also entered the fray with a new stake valued at approximately $118.07 million.
As of now, institutional investors and hedge funds collectively own approximately 43.66% of Ryanair’s stock.
Analysts Adjust Ratings on Ryanair Stock
Recent evaluations by market analysts have led to a shift in ratings for Ryanair’s stock. On November 4, Sanford C. Bernstein downgraded the airline from an “outperform” to a “market perform” rating. Similarly, Goldman Sachs Group lowered its rating from “buy” to “neutral” on September 8. Weiss Ratings reaffirmed a “buy (B-)” designation on December 1, while Zacks Research adjusted its outlook from “strong-buy” to “hold” on September 22. Additionally, Wall Street Zen reduced its rating from “buy” to “hold” on November 9.
Overall, the consensus among analysts presents a mixed view: one has rated Ryanair as a Strong Buy, six have issued Buy ratings, and three have classified it as a Hold. According to data from MarketBeat, Ryanair currently holds a consensus rating of “Moderate Buy” with a target price of $76.00.
Ryanair’s Market Performance and Financials
Ryanair’s stock opened at $66.10 on Monday. The airline’s fifty-day moving average stands at $62.77 while the two-hundred-day moving average is $60.68. The company maintains a debt-to-equity ratio of 0.02, with both its quick and current ratios at 0.71. Ryanair has a market capitalization of $34.78 billion, a price-to-earnings ratio of 12.71, and a PEG ratio of 0.71. Over the past year, the stock has experienced a low of $38.52 and a high of $68.68.
Ryanair’s latest quarterly earnings report, released on November 3, revealed an earnings per share (EPS) of $3.76, surpassing analysts’ expectations of $3.62 by $0.14. The company reported revenue of $6.41 billion, significantly exceeding analysts’ forecasts of $5.44 billion. Furthermore, Ryanair achieved a return on equity of 31.32% and a net margin of 16.29%. Analysts project that Ryanair Holdings PLC will deliver an EPS of $3.09 for the current financial year.
Ryanair Holdings PLC operates scheduled-passenger airline services across various regions, including Ireland, the United Kingdom, Italy, and Spain. The company also provides ancillary services such as non-flight scheduled offerings, internet-related services, and in-flight sales of food, beverages, and merchandise, alongside marketing travel-related products through its digital platforms.
