Imperial Capital Reiterates Buy Rating for JetBlue Airways Corporation (JBLU)
JetBlue Airways Corporation (NASDAQ:JBLU)‘s stock had its “buy” rating restated by investment analysts at Imperial Capital in a research note issued on Tuesday. They presently have a $31.00 price objective on the transportation company’s stock. Imperial Capital’s target price suggests a potential upside of 54.46% from the company’s current price. Imperial Capital also issued estimates for JetBlue Airways Corporation’s Q3 2017 earnings at $0.52 EPS, Q4 2017 earnings at $0.34 EPS, FY2017 earnings at $1.75 EPS, Q1 2018 earnings at $0.25 EPS, Q2 2018 earnings at $0.61 EPS, Q3 2018 earnings at $0.64 EPS, Q4 2018 earnings at $0.50 EPS, FY2018 earnings at $2.00 EPS and FY2019 earnings at $1.05 EPS.
A number of other research firms also recently commented on JBLU. Morgan Stanley lifted their target price on shares of JetBlue Airways Corporation from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, July 17th. Bank of America Corporation lifted their target price on shares of JetBlue Airways Corporation from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, June 30th. Standpoint Research began coverage on shares of JetBlue Airways Corporation in a research report on Friday, September 1st. They issued an “accumulate” rating and a $26.00 target price for the company. BidaskClub downgraded shares of JetBlue Airways Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Finally, ValuEngine downgraded shares of JetBlue Airways Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. JetBlue Airways Corporation has a consensus rating of “Hold” and an average price target of $25.25.
JetBlue Airways Corporation (NASDAQ:JBLU) traded down 0.80% during trading on Tuesday, hitting $19.91. The stock had a trading volume of 1,600,898 shares. JetBlue Airways Corporation has a 1-year low of $16.85 and a 1-year high of $24.13. The stock’s 50-day moving average price is $19.36 and its 200-day moving average price is $21.32. The company has a market capitalization of $6.55 billion, a P/E ratio of 10.11 and a beta of 0.59.
JetBlue Airways Corporation (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, July 25th. The transportation company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. JetBlue Airways Corporation had a net margin of 9.78% and a return on equity of 16.75%. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period in the previous year, the business earned $0.53 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. Analysts expect that JetBlue Airways Corporation will post $1.80 earnings per share for the current year.
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In related news, CEO Robin Hayes sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $22.03, for a total value of $44,060.00. Following the completion of the transaction, the chief executive officer now owns 406,362 shares of the company’s stock, valued at approximately $8,952,154.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joel Clinton Peterson sold 5,120 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $22.00, for a total transaction of $112,640.00. Following the completion of the transaction, the director now directly owns 555,062 shares of the company’s stock, valued at approximately $12,211,364. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,860 shares of company stock valued at $646,973. Insiders own 0.60% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Soros Fund Management LLC bought a new position in JetBlue Airways Corporation in the 1st quarter worth $200,000. Prudential Financial Inc. boosted its holdings in JetBlue Airways Corporation by 135.1% in the 2nd quarter. Prudential Financial Inc. now owns 2,454,990 shares of the transportation company’s stock worth $56,048,000 after buying an additional 1,410,594 shares during the period. Russell Investments Group Ltd. boosted its holdings in JetBlue Airways Corporation by 39.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 170,853 shares of the transportation company’s stock worth $3,906,000 after buying an additional 48,067 shares during the period. Mik Capital LLC boosted its holdings in JetBlue Airways Corporation by 91.5% in the 2nd quarter. Mik Capital LLC now owns 1,779,778 shares of the transportation company’s stock worth $40,632,000 after buying an additional 850,419 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its holdings in JetBlue Airways Corporation by 7.5% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 92,414 shares of the transportation company’s stock worth $2,109,000 after buying an additional 6,451 shares during the period. 84.46% of the stock is owned by institutional investors.
About JetBlue Airways Corporation
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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