JetBlue Airways (NASDAQ:JBLU) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, November 15th.
According to Zacks, “Shares of JetBlue Airways have underperformed its industry so far this year. The stock has also been plagued by multiple challenges of late. Adding to its woes, the carrier's eanings in third quarter declined year over year due to high costs. The recent hurricanes also hurt results. In fact the hurricanes might hurt results in the fourth quarter as well. Operating expenses too increased significantly in the quarter with fuel expenses increasing a massive 18.3%. The persistent rise in fuel and labor costs have the potential to hurt results going forward. However, the carrier's revenues in third quarter increased 4.7%, beating the Zacks Consensus Estimate of $1,809.3 million. Passenger revenues improved 3.3% in the quarter. We are impressed by the carrier's efforts to expand its popular Mint service. Efforts to bring down its debt levels also please us.”
Several other analysts have also recently commented on JBLU. Standpoint Research restated a “buy” rating on shares of JetBlue Airways in a report on Sunday, September 3rd. Deutsche Bank raised their price target on shares of JetBlue Airways from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. BidaskClub cut shares of JetBlue Airways from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Cowen raised their price target on shares of JetBlue Airways from $24.00 to $25.00 and gave the stock a “market perform” rating in a report on Tuesday, July 25th. Finally, Macquarie started coverage on shares of JetBlue Airways in a report on Monday, September 25th. They set a “neutral” rating and a $21.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. JetBlue Airways currently has an average rating of “Hold” and an average price target of $25.02.
JetBlue Airways (JBLU) traded up $0.66 during trading on Wednesday, reaching $21.97. 8,323,205 shares of the company’s stock traded hands, compared to its average volume of 5,860,694. The firm has a market cap of $7,040.00, a PE ratio of 10.98 and a beta of 0.68. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.56 and a current ratio of 0.56. JetBlue Airways has a 52-week low of $18.05 and a 52-week high of $24.13.
JetBlue Airways (NASDAQ:JBLU) last announced its earnings results on Tuesday, October 24th. The transportation company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. JetBlue Airways had a net margin of 9.38% and a return on equity of 15.95%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same period last year, the company posted $0.58 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. equities research analysts anticipate that JetBlue Airways will post 1.74 earnings per share for the current year.
In other JetBlue Airways news, EVP James G. Hnat sold 2,000 shares of JetBlue Airways stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $21.05, for a total transaction of $42,100.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joel Clinton Peterson sold 5,120 shares of JetBlue Airways stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $18.45, for a total transaction of $94,464.00. The disclosure for this sale can be found here. Insiders have sold 18,740 shares of company stock worth $355,144 in the last ninety days. 0.60% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of JBLU. CENTRAL TRUST Co acquired a new stake in shares of JetBlue Airways in the 2nd quarter valued at $162,000. IFP Advisors Inc boosted its stake in shares of JetBlue Airways by 38.1% in the 2nd quarter. IFP Advisors Inc now owns 7,672 shares of the transportation company’s stock valued at $175,000 after purchasing an additional 2,117 shares in the last quarter. Cetera Advisors LLC acquired a new stake in shares of JetBlue Airways in the 3rd quarter valued at $199,000. Capital Management Associates NY acquired a new stake in shares of JetBlue Airways in the 2nd quarter valued at $203,000. Finally, Investment Centers of America Inc. acquired a new stake in shares of JetBlue Airways in the 2nd quarter valued at $205,000. Hedge funds and other institutional investors own 89.86% of the company’s stock.
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JetBlue Airways Company Profile
JetBlue Airways Corporation is a passenger carrier company. The Company provides air transportation services across the United States, the Caribbean and Latin America. Its segments include Domestic, and Caribbean & Latin America. It operates various kinds of aircrafts, including Airbus A321, Airbus A320 and Embraer E190.
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