BidaskClub cut shares of JetBlue Airways (NASDAQ:JBLU) from a hold rating to a sell rating in a research report sent to investors on Friday.
Several other equities research analysts have also recently issued reports on the stock. Buckingham Research dropped their target price on shares of JetBlue Airways from $22.00 to $20.00 and set a neutral rating on the stock in a report on Wednesday, June 13th. Zacks Investment Research upgraded shares of JetBlue Airways from a sell rating to a hold rating in a report on Wednesday, September 12th. Cowen dropped their target price on shares of JetBlue Airways from $22.00 to $20.00 and set a market perform rating on the stock in a report on Wednesday, July 25th. Wolfe Research restated an underperform rating on shares of JetBlue Airways in a report on Friday, August 24th. Finally, Stifel Nicolaus reiterated a hold rating and set a $19.00 price target on shares of JetBlue Airways in a research note on Wednesday, August 1st. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $22.00.
Shares of JBLU stock opened at $17.98 on Friday. JetBlue Airways has a 12-month low of $17.10 and a 12-month high of $23.08. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.56 and a current ratio of 0.59. The company has a market capitalization of $6.06 billion, a P/E ratio of 10.51, a P/E/G ratio of 1.28 and a beta of 0.49.
JetBlue Airways (NASDAQ:JBLU) last issued its earnings results on Tuesday, July 24th. The transportation company reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.02. JetBlue Airways had a net margin of 11.30% and a return on equity of 10.80%. The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter last year, the company posted $0.64 earnings per share. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, equities analysts predict that JetBlue Airways will post 1.48 EPS for the current year.
In other news, CEO Robin Hayes sold 2,000 shares of JetBlue Airways stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $19.12, for a total transaction of $38,240.00. Following the transaction, the chief executive officer now owns 436,803 shares in the company, valued at approximately $8,351,673.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP George Martin J. St sold 3,000 shares of JetBlue Airways stock in a transaction on Monday, July 16th. The stock was sold at an average price of $19.39, for a total transaction of $58,170.00. The disclosure for this sale can be found here. Insiders have sold a total of 13,000 shares of company stock worth $248,150 in the last quarter. Corporate insiders own 0.63% of the company’s stock.
Several institutional investors have recently modified their holdings of JBLU. BlackRock Inc. raised its position in shares of JetBlue Airways by 0.3% during the 2nd quarter. BlackRock Inc. now owns 26,288,138 shares of the transportation company’s stock valued at $498,949,000 after purchasing an additional 81,918 shares during the period. Dimensional Fund Advisors LP raised its position in shares of JetBlue Airways by 0.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 11,520,278 shares of the transportation company’s stock valued at $218,651,000 after purchasing an additional 60,141 shares during the period. LSV Asset Management raised its position in shares of JetBlue Airways by 18.3% during the 2nd quarter. LSV Asset Management now owns 7,553,189 shares of the transportation company’s stock valued at $143,359,000 after purchasing an additional 1,168,454 shares during the period. Donald Smith & CO. Inc. raised its position in shares of JetBlue Airways by 64.4% during the 2nd quarter. Donald Smith & CO. Inc. now owns 6,941,452 shares of the transportation company’s stock valued at $131,749,000 after purchasing an additional 2,719,980 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in shares of JetBlue Airways during the 2nd quarter valued at $29,956,000. Institutional investors and hedge funds own 87.24% of the company’s stock.
JetBlue Airways Company Profile
JetBlue Airways Corporation, a passenger carrier company, provides air transportation services. As of December 31, 2017, the company operated a fleet of 53 Airbus A321 aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 101 destinations in 30 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.
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