JetBlue Airways (NASDAQ:JBLU) Shares Down 8% – What’s Next?

JetBlue Airways Corporation (NASDAQ:JBLU)’s share price traded down 8% during mid-day trading on Thursday . The company traded as low as $5.96 and last traded at $5.9450. 3,073,575 shares were traded during trading, a decline of 85% from the average session volume of 20,303,922 shares. The stock had previously closed at $6.46.

Analysts Set New Price Targets

A number of research firms have commented on JBLU. TD Cowen boosted their price target on shares of JetBlue Airways from $4.00 to $5.00 and gave the company a “hold” rating in a research report on Wednesday, January 7th. The Goldman Sachs Group boosted their target price on JetBlue Airways from $3.50 to $4.00 and gave the stock a “sell” rating in a report on Tuesday, January 13th. Morgan Stanley cut their price objective on JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Monday, December 8th. Evercore boosted their price objective on JetBlue Airways from $5.00 to $6.00 and gave the stock an “in-line” rating in a research note on Thursday, January 29th. Finally, Susquehanna raised their target price on JetBlue Airways from $4.55 to $5.00 and gave the company a “neutral” rating in a research note on Friday, January 9th. Eight equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, JetBlue Airways presently has an average rating of “Reduce” and an average target price of $5.27.

JetBlue Airways Stock Performance

The company has a debt-to-equity ratio of 3.65, a quick ratio of 0.69 and a current ratio of 0.74. The company has a market cap of $2.16 billion, a price-to-earnings ratio of -3.51 and a beta of 1.78. The firm’s 50-day moving average price is $5.19 and its 200 day moving average price is $4.90.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings results on Tuesday, January 27th. The transportation company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.04). JetBlue Airways had a negative net margin of 6.64% and a negative return on equity of 25.62%. The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same period last year, the company earned ($0.21) EPS. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, sell-side analysts anticipate that JetBlue Airways Corporation will post -0.69 EPS for the current year.

Institutional Investors Weigh In On JetBlue Airways

Large investors have recently bought and sold shares of the company. AQR Capital Management LLC grew its position in shares of JetBlue Airways by 131.2% in the 1st quarter. AQR Capital Management LLC now owns 90,534 shares of the transportation company’s stock valued at $436,000 after purchasing an additional 51,377 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in JetBlue Airways by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 185,801 shares of the transportation company’s stock valued at $896,000 after buying an additional 8,053 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of JetBlue Airways by 6.1% in the first quarter. Goldman Sachs Group Inc. now owns 4,789,448 shares of the transportation company’s stock valued at $23,085,000 after buying an additional 274,892 shares during the period. United Services Automobile Association bought a new stake in shares of JetBlue Airways during the first quarter worth $106,000. Finally, CWM LLC increased its position in shares of JetBlue Airways by 63.7% during the second quarter. CWM LLC now owns 75,806 shares of the transportation company’s stock worth $321,000 after acquiring an additional 29,485 shares in the last quarter. Institutional investors own 83.71% of the company’s stock.

About JetBlue Airways

JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.

The airline’s core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.