JetBlue Airways Corporation (JBLU) Stock Rating Lowered by Zacks Investment Research
JetBlue Airways Corporation (NASDAQ:JBLU) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
According to Zacks, “Shares of JetBlue Airways have underperformed its industry so far this year. The stock has also been plagued by multiple challenges like high fuel and labor costs. Adding to its woes, the carrier's August load factor declined due to capacity overexpansion. The carrier's operations were recently disrupted by the natural calamities like Harvey and Irma. JetBlue recently provided a bearish view on revenue per available seat miles (a key unit measure) for the third quarter of 2017. The company attributed the reduction in the guidance to the prevalent competitive pricing environment. JetBlue's efforts to expand its popular premium service (Mint) and reduce debt levels are, however, encouraging.”
Several other analysts also recently issued reports on JBLU. BidaskClub downgraded JetBlue Airways Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Macquarie began coverage on JetBlue Airways Corporation in a report on Monday. They set a “neutral” rating and a $21.00 price objective on the stock. Cowen and Company restated a “hold” rating on shares of JetBlue Airways Corporation in a report on Friday, September 1st. Morgan Stanley cut their price objective on JetBlue Airways Corporation from $24.00 to $23.00 and set an “equal weight” rating on the stock in a report on Thursday, August 17th. Finally, Buckingham Research downgraded JetBlue Airways Corporation from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $28.00 to $24.00 in a report on Wednesday, July 26th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. JetBlue Airways Corporation has a consensus rating of “Hold” and a consensus target price of $25.40.
Shares of JetBlue Airways Corporation (NASDAQ JBLU) traded down 0.11% during trading on Tuesday, hitting $18.53. 2,037,982 shares of the stock were exchanged. The stock has a 50-day moving average of $20.33 and a 200 day moving average of $21.42. The stock has a market cap of $6.09 billion, a P/E ratio of 9.41 and a beta of 0.59. JetBlue Airways Corporation has a 12-month low of $16.81 and a 12-month high of $24.13.
JetBlue Airways Corporation (NASDAQ:JBLU) last issued its quarterly earnings results on Tuesday, July 25th. The transportation company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.56 by $0.08. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.82 billion. JetBlue Airways Corporation had a net margin of 9.78% and a return on equity of 16.75%. JetBlue Airways Corporation’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.53 earnings per share. Equities analysts predict that JetBlue Airways Corporation will post $1.88 earnings per share for the current fiscal year.
In related news, EVP George Martin J. St sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $18.79, for a total value of $46,975.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joel Clinton Peterson sold 5,120 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $23.13, for a total value of $118,425.60. Following the completion of the sale, the director now directly owns 560,182 shares of the company’s stock, valued at approximately $12,957,009.66. The disclosure for this sale can be found here. In the last three months, insiders sold 31,860 shares of company stock valued at $683,975. 0.60% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in JetBlue Airways Corporation by 13,299.6% during the first quarter. BlackRock Inc. now owns 27,408,463 shares of the transportation company’s stock worth $564,889,000 after purchasing an additional 27,203,916 shares during the period. Alliancebernstein L.P. boosted its position in JetBlue Airways Corporation by 1,135.5% during the second quarter. Alliancebernstein L.P. now owns 2,927,591 shares of the transportation company’s stock worth $66,837,000 after purchasing an additional 2,690,638 shares during the period. Dimensional Fund Advisors LP boosted its position in JetBlue Airways Corporation by 32.2% during the first quarter. Dimensional Fund Advisors LP now owns 10,805,538 shares of the transportation company’s stock worth $222,704,000 after purchasing an additional 2,632,973 shares during the period. Vanguard Group Inc. boosted its position in JetBlue Airways Corporation by 7.8% during the first quarter. Vanguard Group Inc. now owns 28,930,739 shares of the transportation company’s stock worth $596,262,000 after purchasing an additional 2,085,912 shares during the period. Finally, Macquarie Group Ltd. boosted its position in JetBlue Airways Corporation by 2,465.3% during the first quarter. Macquarie Group Ltd. now owns 1,775,200 shares of the transportation company’s stock worth $36,587,000 after purchasing an additional 1,706,000 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.
JetBlue Airways Corporation 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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