JetBlue Airways Corp. (JBLU) Downgraded to Hold at Zacks Investment Research
According to Zacks, “We are impressed by the renewable jet fuel purchase agreement inked by JetBlue Airways with SG Preston. The carrier's strong September traffic report is also encouraging . We are also positive on the U.S. DOT’s decision to grant final approval to eight carriers, including JetBlue, to initiate commercial flights to Havana. The approval was gained on the same day the first U.S. flight landed in Cuba in more than 50 years. The flight from Fort Lauderdale to Santa Clara was operated by JetBlue. However, we remain concerned about headwinds like the surge in terror attacks and uncertainty following Brexit, to name a few. Moreover, the company’s failure to seal the deal to buy Virgin America has dealt a blow to its expansion plans.”
JBLU has been the topic of a number of other research reports. Morgan Stanley reissued a hold rating and set a $19.00 price objective on shares of JetBlue Airways Corp. in a research note on Sunday, August 21st. Vetr lowered JetBlue Airways Corp. from a strong-buy rating to a buy rating and set a $19.72 price objective on the stock. in a research note on Monday, October 3rd. Credit Suisse Group AG set a $20.00 price objective on JetBlue Airways Corp. and gave the stock a hold rating in a research note on Monday, September 12th. Imperial Capital assumed coverage on JetBlue Airways Corp. in a research note on Friday, September 16th. They set an outperform rating and a $21.00 price objective on the stock. Finally, Raymond James Financial Inc. restated an outperform rating on shares of JetBlue Airways Corp. in a research report on Wednesday, June 15th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $23.37.
JetBlue Airways Corp. (NASDAQ:JBLU) traded down 1.59% during trading on Thursday, hitting $17.93. The stock had a trading volume of 2,338,772 shares. JetBlue Airways Corp. has a one year low of $14.76 and a one year high of $27.00. The company has a market cap of $5.80 billion, a P/E ratio of 7.96 and a beta of 0.36. The firm has a 50 day moving average of $17.02 and a 200-day moving average of $17.92.
JetBlue Airways Corp. (NASDAQ:JBLU) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.04. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.65 billion. JetBlue Airways Corp. had a return on equity of 22.84% and a net margin of 11.73%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 earnings per share. Equities analysts anticipate that JetBlue Airways Corp. will post $2.19 earnings per share for the current fiscal year.
In other JetBlue Airways Corp. news, CEO Robin Hayes sold 2,000 shares of the stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $17.42, for a total transaction of $34,840.00. Following the completion of the sale, the chief executive officer now directly owns 357,881 shares of the company’s stock, valued at approximately $6,234,287.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joel Clinton Peterson sold 5,120 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $18.27, for a total value of $93,542.40. Following the sale, the director now directly owns 604,893 shares of the company’s stock, valued at $11,051,395.11. The disclosure for this sale can be found here. 0.70% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Acrospire Investment Management LLC bought a new stake in JetBlue Airways Corp. during the first quarter worth $112,000. Exane Derivatives boosted its stake in JetBlue Airways Corp. by 173.3% in the second quarter. Exane Derivatives now owns 6,623 shares of the company’s stock worth $110,000 after buying an additional 4,200 shares during the last quarter. Cribstone Capital Management LLC bought a new stake in JetBlue Airways Corp. during the second quarter worth $115,000. Nisa Investment Advisors LLC boosted its stake in JetBlue Airways Corp. by 128.6% in the third quarter. Nisa Investment Advisors LLC now owns 8,000 shares of the company’s stock worth $138,000 after buying an additional 4,500 shares during the last quarter. Finally, Advisor Group Inc. bought a new stake in JetBlue Airways Corp. during the second quarter worth $163,000. 79.64% of the stock is owned by institutional investors.
JetBlue Airways Corp. 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. It operates various types of aircrafts, including Airbus A321, Airbus A320 and Embraer E190. It also provides premium transcontinental product called Mint.
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