JetBlue Airways (NASDAQ:JBLU) Stock Price Up 7.3% After Earnings Beat

JetBlue Airways Co. (NASDAQ:JBLU) rose 7.3% on Tuesday following a better than expected earnings announcement. The company traded as high as $18.86 and last traded at $18.80, approximately 13,136,692 shares changed hands during mid-day trading. An increase of 183% from the average daily volume of 4,635,892 shares. The stock had previously closed at $17.52.

The transportation company reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.08. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.09 billion. JetBlue Airways had a return on equity of 11.35% and a net margin of 5.53%. The company’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the business posted $0.43 EPS.

A number of research firms have weighed in on JBLU. Stifel Nicolaus upgraded JetBlue Airways from a “hold” rating to a “buy” rating and lifted their price objective for the company from $22.00 to $24.00 in a research note on Monday. Cowen reduced their price objective on JetBlue Airways from $20.00 to $19.00 and set a “market perform” rating for the company in a research note on Thursday, September 12th. Zacks Investment Research upgraded JetBlue Airways from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Monday, September 2nd. Buckingham Research upgraded JetBlue Airways from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $18.00 to $22.00 in a research note on Monday, October 7th. Finally, ValuEngine lowered JetBlue Airways from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $20.86.

In other news, EVP George Martin J. St sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $18.25, for a total transaction of $27,375.00. Following the sale, the executive vice president now directly owns 44,228 shares in the company, valued at approximately $807,161. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robin Hayes sold 2,500 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $16.62, for a total value of $41,550.00. Following the sale, the chief executive officer now owns 468,393 shares in the company, valued at $7,784,691.66. The disclosure for this sale can be found here. Insiders have sold a total of 14,335 shares of company stock worth $262,095 over the last 90 days. Insiders own 0.79% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Amundi Pioneer Asset Management Inc. lifted its stake in JetBlue Airways by 14.7% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 686,899 shares of the transportation company’s stock valued at $11,237,000 after buying an additional 88,089 shares during the period. Crossmark Global Holdings Inc. lifted its stake in JetBlue Airways by 1.9% in the second quarter. Crossmark Global Holdings Inc. now owns 34,310 shares of the transportation company’s stock valued at $634,000 after buying an additional 655 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in JetBlue Airways in the second quarter valued at approximately $684,000. OLD National Bancorp IN lifted its stake in JetBlue Airways by 4.6% in the second quarter. OLD National Bancorp IN now owns 15,850 shares of the transportation company’s stock valued at $293,000 after buying an additional 700 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its stake in JetBlue Airways by 1.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 123,603 shares of the transportation company’s stock valued at $2,285,000 after buying an additional 1,752 shares during the period. Hedge funds and other institutional investors own 91.07% of the company’s stock.

The company has a quick ratio of 0.48, a current ratio of 0.51 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average price of $16.89 and a two-hundred day moving average price of $17.91. The company has a market capitalization of $5.02 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 0.52 and a beta of 0.84.

About JetBlue Airways (NASDAQ:JBLU)

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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