JetBlue Airways (NASDAQ:JBLU) Trading Down 9.7% – Here’s What Happened

JetBlue Airways Corporation (NASDAQ:JBLU) shares were down 9.7% during mid-day trading on Thursday . The company traded as low as $4.56 and last traded at $4.56. Approximately 18,853,776 shares were traded during mid-day trading, a decline of 3% from the average daily volume of 19,395,791 shares. The stock had previously closed at $5.05.

Analysts Set New Price Targets

JBLU has been the topic of several recent research reports. Evercore increased their price target on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock an “in-line” rating in a research report on Thursday, January 29th. TD Cowen lifted their target price on JetBlue Airways from $4.00 to $5.00 and gave the company a “hold” rating in a research report on Wednesday, January 7th. JPMorgan Chase & Co. upped their price target on JetBlue Airways from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. Susquehanna raised their price objective on JetBlue Airways from $4.55 to $5.00 and gave the stock a “neutral” rating in a research note on Friday, January 9th. Finally, The Goldman Sachs Group lifted their price objective on JetBlue Airways from $3.50 to $4.00 and gave the company a “sell” rating in a research report on Tuesday, January 13th. Seven research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, JetBlue Airways has a consensus rating of “Reduce” and an average target price of $5.11.

JetBlue Airways Stock Performance

The company has a market capitalization of $1.68 billion, a P/E ratio of -2.72 and a beta of 1.72. The business has a 50 day moving average of $5.33 and a 200 day moving average of $4.96. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 3.65.

JetBlue Airways (NASDAQ:JBLU) last posted its 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). The business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.22 billion. JetBlue Airways had a negative net margin of 6.64% and a negative return on equity of 25.62%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period last year, the business posted ($0.21) earnings per share. On average, sell-side analysts predict that JetBlue Airways Corporation will post -0.69 earnings per share for the current year.

Institutional Investors Weigh In On JetBlue Airways

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Stifel Financial Corp raised its position in JetBlue Airways by 0.6% during the 4th quarter. Stifel Financial Corp now owns 326,990 shares of the transportation company’s stock valued at $1,488,000 after purchasing an additional 1,928 shares in the last quarter. Vident Advisory LLC increased its stake in shares of JetBlue Airways by 20.2% during the fourth quarter. Vident Advisory LLC now owns 13,232 shares of the transportation company’s stock valued at $60,000 after buying an additional 2,226 shares during the period. CWM LLC raised its holdings in shares of JetBlue Airways by 3.2% in the third quarter. CWM LLC now owns 78,200 shares of the transportation company’s stock valued at $385,000 after acquiring an additional 2,394 shares in the last quarter. Essex Financial Services Inc. lifted its stake in JetBlue Airways by 12.4% in the fourth quarter. Essex Financial Services Inc. now owns 23,504 shares of the transportation company’s stock worth $107,000 after acquiring an additional 2,599 shares during the period. Finally, Cetera Investment Advisers lifted its stake in JetBlue Airways by 10.7% in the second quarter. Cetera Investment Advisers now owns 30,678 shares of the transportation company’s stock worth $130,000 after acquiring an additional 2,954 shares during the period. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

JetBlue Airways Company Profile

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.