Imperial Capital Weighs in on JetBlue Airways Co.’s FY2017 Earnings (NASDAQ:JBLU)

JetBlue Airways Co. (NASDAQ:JBLU) – Research analysts at Imperial Capital cut their FY2017 earnings estimates for JetBlue Airways in a note issued to investors on Wednesday, according to Zacks Investment Research. Imperial Capital analyst M. Derchin now expects that the transportation company will post earnings per share of $1.78 for the year, down from their previous estimate of $1.80. Imperial Capital has a “Outperform” rating and a $31.00 price target on the stock. Imperial Capital also issued estimates for JetBlue Airways’ Q4 2017 earnings at $0.35 EPS, Q2 2018 earnings at $0.60 EPS, Q3 2018 earnings at $0.63 EPS and Q4 2018 earnings at $0.53 EPS.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings data on Thursday, January 25th. The transportation company reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.02). The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. JetBlue Airways had a return on equity of 14.20% and a net margin of 16.35%. The business’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.50 earnings per share.

A number of other equities analysts have also recently weighed in on the stock. ValuEngine upgraded shares of JetBlue Airways from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Zacks Investment Research raised shares of JetBlue Airways from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 15th. Bank of America lowered shares of JetBlue Airways from a “buy” rating to an “underperform” rating and set a $22.00 target price for the company. in a report on Tuesday, January 9th. BidaskClub raised shares of JetBlue Airways from a “sell” rating to a “hold” rating in a report on Friday, December 22nd. Finally, Stephens began coverage on shares of JetBlue Airways in a report on Wednesday, November 29th. They set an “equal weight” rating and a $22.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $24.32.

JetBlue Airways (NASDAQ:JBLU) traded down $0.02 during trading hours on Friday, reaching $19.87. 6,753,822 shares of the company’s stock were exchanged, compared to its average volume of 5,190,000. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $6,370.00, a PE ratio of 5.66 and a beta of 0.59. JetBlue Airways has a 52 week low of $18.05 and a 52 week high of $24.13.

Hedge funds have recently made changes to their positions in the business. Legal & General Group Plc boosted its stake in JetBlue Airways by 8.8% during the third quarter. Legal & General Group Plc now owns 260,874 shares of the transportation company’s stock worth $4,834,000 after buying an additional 21,209 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. lifted its position in shares of JetBlue Airways by 50.9% during the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 68,200 shares of the transportation company’s stock worth $1,523,000 after purchasing an additional 23,000 shares in the last quarter. Palisade Capital Management LLC NJ lifted its position in shares of JetBlue Airways by 34.4% during the third quarter. Palisade Capital Management LLC NJ now owns 21,500 shares of the transportation company’s stock worth $398,000 after purchasing an additional 5,500 shares in the last quarter. Frontier Capital Management Co. LLC lifted its position in shares of JetBlue Airways by 47.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 5,293,229 shares of the transportation company’s stock worth $118,251,000 after purchasing an additional 1,692,657 shares in the last quarter. Finally, TIAA FSB lifted its position in shares of JetBlue Airways by 26.1% during the third quarter. TIAA FSB now owns 237,428 shares of the transportation company’s stock worth $4,400,000 after purchasing an additional 49,142 shares in the last quarter. 89.76% of the stock is owned by institutional investors.

In other JetBlue Airways news, CEO Robin Hayes sold 2,000 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $21.38, for a total transaction of $42,760.00. Following the completion of the transaction, the chief executive officer now owns 398,535 shares of the company’s stock, valued at $8,520,678.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James G. Hnat sold 5,000 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $20.84, for a total transaction of $104,200.00. Following the transaction, the executive vice president now directly owns 9,555 shares of the company’s stock, valued at approximately $199,126.20. The disclosure for this sale can be found here. Insiders sold 20,545 shares of company stock valued at $442,303 in the last three months. 0.60% of the stock is currently owned by insiders.

JetBlue Airways announced that its Board of Directors has initiated a stock buyback program on Wednesday, December 13th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the transportation company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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About JetBlue Airways

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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Earnings History and Estimates for JetBlue Airways (NASDAQ:JBLU)

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