JetBlue Airways Corp. (JBLU) Downgraded by 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 reports. Vetr raised shares of JetBlue Airways Corp. from a buy rating to a strong-buy rating and set a $19.52 price objective on the stock in a report on Monday, September 19th. Imperial Capital began coverage on shares of JetBlue Airways Corp. in a report on Friday, September 16th. They issued an outperform rating and a $21.00 price target on the stock. Credit Suisse Group AG reaffirmed an underweight rating on shares of JetBlue Airways Corp. in a report on Saturday, June 25th. Morgan Stanley reaffirmed a hold rating and issued a $19.00 price target on shares of JetBlue Airways Corp. in a report on Sunday, August 21st. Finally, JPMorgan Chase & Co. lowered their price target on shares of JetBlue Airways Corp. from $24.50 to $21.00 and set a neutral rating on the stock in a report on Wednesday, July 27th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $23.42.
JetBlue Airways Corp. (NASDAQ:JBLU) opened at 17.77 on Thursday. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of 7.89 and a beta of 0.35. JetBlue Airways Corp. has a 12 month low of $14.76 and a 12 month high of $27.00. The stock’s 50 day moving average price is $17.12 and its 200-day moving average price is $17.83.
JetBlue Airways Corp. (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.65 billion. JetBlue Airways Corp. had a net margin of 11.73% and a return on equity of 22.84%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 earnings per share. Equities analysts expect that JetBlue Airways Corp. will post $2.19 EPS for the current year.
In other JetBlue Airways Corp. news, Director Joel Clinton Peterson sold 5,120 shares of the stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $15.81, for a total value of $80,947.20. Following the completion of the sale, the director now owns 599,773 shares in the company, valued at approximately $9,482,411.13. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robin Hayes sold 2,000 shares of the stock in a transaction dated Monday, October 10th. The shares were 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 owns 357,881 shares of the company’s stock, valued at approximately $6,234,287.02. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC acquired a new stake in JetBlue Airways Corp. during the first quarter worth approximately $112,000. Exane Derivatives increased 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 acquired a new stake in JetBlue Airways Corp. during the second quarter worth approximately $115,000. Nisa Investment Advisors LLC increased 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. acquired a new stake in JetBlue Airways Corp. during the second quarter worth approximately $163,000. Institutional investors own 79.57% of the company’s stock.
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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