JetBlue Airways Corporation (NASDAQ:JBLU) Receives Consensus Rating of “Reduce” from Brokerages

Shares of JetBlue Airways Corporation (NASDAQ:JBLU) have earned an average recommendation of “Reduce” from the eleven ratings firms that are covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $5.0278.

Several brokerages have recently issued reports on JBLU. Weiss Ratings reissued a “sell (d-)” rating on shares of JetBlue Airways in a research report on Wednesday, October 8th. Morgan Stanley reduced their price target on JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Monday, December 8th. TD Cowen increased their price objective on JetBlue Airways from $4.00 to $5.00 and gave the stock a “hold” rating in a report on Wednesday. Susquehanna boosted their target price on shares of JetBlue Airways from $4.55 to $5.00 and gave the company a “neutral” rating in a report on Friday. Finally, Citigroup reduced their target price on shares of JetBlue Airways from $4.10 to $4.00 and set a “sell” rating on the stock in a research report on Wednesday.

JetBlue Airways Trading Up 3.0%

NASDAQ:JBLU opened at $5.19 on Friday. The company has a 50-day moving average price of $4.59 and a 200-day moving average price of $4.68. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -3.93 and a beta of 1.78. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 3.42. JetBlue Airways has a 12 month low of $3.34 and a 12 month high of $8.31.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, October 28th. The transportation company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.03. JetBlue Airways had a negative net margin of 5.16% and a negative return on equity of 19.87%. The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the prior year, the firm earned ($0.16) earnings per share. JetBlue Airways’s revenue was down 1.8% on a year-over-year basis. Equities analysts predict that JetBlue Airways will post -0.69 EPS for the current year.

Institutional Investors Weigh In On JetBlue Airways

Hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC lifted its holdings in shares of JetBlue Airways by 3.2% during the third quarter. CWM LLC now owns 78,200 shares of the transportation company’s stock valued at $385,000 after purchasing an additional 2,394 shares during the last quarter. Cetera Investment Advisers increased its position in JetBlue Airways by 10.7% during the 2nd quarter. Cetera Investment Advisers now owns 30,678 shares of the transportation company’s stock valued at $130,000 after buying an additional 2,954 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in JetBlue Airways by 639.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock valued at $29,000 after buying an additional 5,049 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in JetBlue Airways by 51.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,084 shares of the transportation company’s stock worth $73,000 after acquiring an additional 5,439 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of JetBlue Airways by 7.7% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 78,237 shares of the transportation company’s stock worth $331,000 after acquiring an additional 5,588 shares during the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

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.