Zacks Investment Research upgraded shares of JetBlue Airways Co. (NASDAQ:JBLU) from a strong sell rating to a hold rating in a report issued on Wednesday morning.
According to Zacks, “Shares of JetBlue Airways have underperformed its industry so far this year. The stock has also been plagued by multiple challenges of late. Adding to its woes, the carrier's eanings in third quarter declined year over year due to high costs. The recent hurricanes also hurt results. In fact the hurricanes might hurt results in the fourth quarter as well. Operating expenses too increased significantly in the quarter with fuel expenses increasing a massive 18.3%. The persistent rise in fuel and labor costs have the potential to hurt results going forward. However, the carrier's revenues in third quarter increased 4.7%, beating the Zacks Consensus Estimate of $1,809.3 million. Passenger revenues improved 3.3% in the quarter. We are impressed by the carrier's efforts to expand its popular Mint service. Efforts to bring down its debt levels also please us.”
Other equities research analysts have also recently issued research reports about the company. BidaskClub cut JetBlue Airways from a hold rating to a sell rating in a research note on Friday, August 4th. ValuEngine upgraded JetBlue Airways from a buy rating to a strong-buy rating in a research report on Wednesday, August 23rd. J P Morgan Chase & Co lowered JetBlue Airways from an overweight rating to a neutral rating and set a $22.00 target price on the stock. in a research report on Wednesday, November 1st. Cowen and Company restated a hold rating and set a $21.00 target price on shares of JetBlue Airways in a research report on Friday, September 8th. Finally, Morgan Stanley cut their target price on JetBlue Airways from $24.00 to $23.00 and set an equal weight rating on the stock in a research report on Thursday, August 17th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $25.02.
Shares of JetBlue Airways (NASDAQ:JBLU) traded up $0.11 during mid-day trading on Wednesday, hitting $20.26. The stock had a trading volume of 4,447,204 shares, compared to its average volume of 5,932,764. The firm has a market capitalization of $6,500.00, a PE ratio of 10.12 and a beta of 0.65. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.25. JetBlue Airways has a 12 month low of $18.05 and a 12 month high of $24.13.
JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Tuesday, October 24th. The transportation company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.81 billion. JetBlue Airways had a return on equity of 15.95% and a net margin of 9.38%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.58 earnings per share. equities analysts forecast that JetBlue Airways will post 1.75 earnings per share for the current year.
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In other news, CEO Robin Hayes sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $19.89, for a total value of $39,780.00. Following the transaction, the chief executive officer now owns 404,362 shares in the company, valued at $8,042,760.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joel Clinton Peterson sold 5,120 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $19.87, for a total value of $101,734.40. Following the completion of the transaction, the director now owns 549,942 shares in the company, valued at approximately $10,927,347.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,860 shares of company stock worth $474,419. Corporate insiders own 0.60% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Palisade Capital Management LLC NJ lifted its holdings in shares of JetBlue Airways by 34.4% in the third quarter. Palisade Capital Management LLC NJ now owns 21,500 shares of the transportation company’s stock valued at $398,000 after purchasing an additional 5,500 shares in the last quarter. TIAA FSB lifted its holdings in shares of JetBlue Airways by 26.1% in the third quarter. TIAA FSB now owns 237,428 shares of the transportation company’s stock valued at $4,400,000 after purchasing an additional 49,142 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of JetBlue Airways by 135.1% in the second quarter. Prudential Financial Inc. now owns 2,454,990 shares of the transportation company’s stock valued at $56,048,000 after purchasing an additional 1,410,594 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of JetBlue Airways by 39.1% in the second quarter. Russell Investments Group Ltd. now owns 170,853 shares of the transportation company’s stock valued at $3,906,000 after purchasing an additional 48,067 shares in the last quarter. Finally, Mik Capital LLC lifted its holdings in shares of JetBlue Airways by 91.5% in the second quarter. Mik Capital LLC now owns 1,779,778 shares of the transportation company’s stock valued at $40,632,000 after purchasing an additional 850,419 shares in the last quarter. Institutional investors own 85.19% of the company’s stock.
JetBlue Airways 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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