Zacks Investment Research lowered shares of JetBlue Airways (NASDAQ:JBLU) from a hold rating to a sell rating in a research report report published on Tuesday morning, Zacks.com reports.
According to Zacks, “We expect JetBlue to struggle on the unit revenue front in the first quarter of 2019, detailed results of which will be out on Apr 23. Earlier in April, the carrier adjusted its guidance for first-quarter operating revenue per available seat mile (RASM : a key measure of unit revenue). The metric is expected to decline 3.1%, with higher-than-expected completion factor hurting RASM to the tune of approximately 0.75 points. Previously, RASM in the soon-to-be-reported quarter was anticipated to decline 1.5-3.5%. Moreover, high labor costs might affect JetBlue's bottom line growth. Additionally, capacity overexpansion is another cause for cocern. The southward movement of the Zacks Consensus Estimate for first-quarter earnings reveals the negative sentiment surrounding the stock. However, we are impressed by the carrier's initiatives to reward shareholders. The company's efforts to modernize its fleet are also encouraging.”
A number of other research firms have also issued reports on JBLU. Credit Suisse Group reissued a hold rating and issued a $17.00 target price on shares of JetBlue Airways in a report on Thursday, February 7th. ValuEngine lowered JetBlue Airways from a hold rating to a sell rating in a report on Friday, February 15th. Vertical Research started coverage on JetBlue Airways in a report on Monday, February 4th. They issued a hold rating and a $19.00 target price on the stock. BidaskClub lowered JetBlue Airways from a hold rating to a sell rating in a report on Friday, February 22nd. Finally, JPMorgan Chase & Co. lowered JetBlue Airways from an overweight rating to a neutral rating and set a $18.00 price objective on the stock. in a report on Thursday, January 10th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. The company has an average rating of Hold and a consensus price target of $19.68.
NASDAQ:JBLU opened at $16.88 on Tuesday. The company has a market capitalization of $5.10 billion, a PE ratio of 10.89, a P/E/G ratio of 5.78 and a beta of 0.89. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 0.30. JetBlue Airways has a 12-month low of $15.19 and a 12-month high of $20.25.
JetBlue Airways (NASDAQ:JBLU) last released its earnings results on Thursday, January 24th. The transportation company reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.07. The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.95 billion. JetBlue Airways had a return on equity of 10.92% and a net margin of 2.44%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.08 earnings per share. Equities analysts predict that JetBlue Airways will post 1.87 earnings per share for the current year.
In related news, CEO Robin Hayes sold 2,500 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $15.92, for a total transaction of $39,800.00. Following the transaction, the chief executive officer now owns 455,576 shares of the company’s stock, valued at $7,252,769.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 7,500 shares of company stock worth $127,275 in the last ninety days. 0.63% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the business. Curbstone Financial Management Corp grew its holdings in JetBlue Airways by 1.5% in the first quarter. Curbstone Financial Management Corp now owns 52,450 shares of the transportation company’s stock valued at $858,000 after purchasing an additional 800 shares during the last quarter. Flagship Harbor Advisors LLC grew its holdings in JetBlue Airways by 13.1% in the fourth quarter. Flagship Harbor Advisors LLC now owns 7,145 shares of the transportation company’s stock valued at $114,000 after purchasing an additional 830 shares during the last quarter. Macquarie Group Ltd. grew its holdings in JetBlue Airways by 0.8% in the fourth quarter. Macquarie Group Ltd. now owns 110,200 shares of the transportation company’s stock valued at $1,769,000 after purchasing an additional 900 shares during the last quarter. Mitsubishi UFJ Asset Management UK Ltd. grew its holdings in JetBlue Airways by 1.7% in the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 59,200 shares of the transportation company’s stock valued at $951,000 after purchasing an additional 1,000 shares during the last quarter. Finally, KBC Group NV grew its holdings in JetBlue Airways by 88.2% in the fourth quarter. KBC Group NV now owns 2,213 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 1,037 shares during the last quarter. 91.49% of the stock is currently owned by institutional investors.
JetBlue Airways Company Profile
JetBlue Airways Corporation, a passenger carrier company, provides air transportation services. As of December 31, 2018, the company operated a fleet of 63 Airbus A321 aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 105 destinations in the 31 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.
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