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3 FTSE Shares Hitting New Highs: easyJet plc, International Consolidated Airlines Group And Taylor Wimpey plc

The FTSE 100 (FTSEINDICES: ^FTSE) looks like it’s set to end the week up, despite being down 34 points by mid-afternoon today to 6,600. If it does, it’ll be for the fourth week in a row, with the current level taking the index back to just 276 short of the 13-year record of 6,876 points it set in May.

Plenty of individual shares are reaching new highs — here are three from the various indices breaking records this week:


Shares in easyJet (LSE: EZJ) ended yesterday on a 52-week closing high of 1,406p — so far today they’ve been a penny up on that at 1,407, but are currently trading for 1,392p. Over the past 12 months the price is up 150%, so easyJet has been one of the past year’s big success stories. And it has been backed by three years of strong earnings growth.

There’s more forecast for the year to September 2013 too, with a 37% EPS rise currently predicted, putting the shares on a P/E of 16.5. It’s hard to say whether that’s too high, with such positive growth forecasts — but on the other hand, it’s an airline, and they’re always risky investments however well they’re run.

International Consolidated Airlines

Talking of airlines, it’s been a good year for International Consolidated Airlines Group (LSE: IAG), too — and if that forgettable name doesn’t exactly invoke instant recognition, it’s the result of the merger between British Airways and Iberia. Anyway, the share price is up more than 80% over the past 12 months, having climbed to a 52-week high of 290p today.

The airline group recorded a loss last year, and today’s price hasn’t quite regained its pre-slump high of more than 300p at the start of 2011, but there is a return to profit forecast for this year. It’s only a small one, but stronger earnings forecasts for the year to December 2014 put the shares on a P/E of 9.

Taylor Wimpey

Like the rest of the housebuilding sector, Taylor Wimpey (LSE: TW) has had a rather good year, with its shares having more than doubled over 12 months. And yesterday the price closed on a record high of 108p, before dropping a penny to 107p at the time of writing today.

A first-half update told us that trading was at the upper end of expectations, so the recent consensus of around 5.8p per share EPS is likely to be upgraded a little. As it stands, it puts the shares on a P/E of over 18, but that falls to around 13 based on 2014 estimates.

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> Alan does not own any shares mentioned in this article.

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