JetBlue Airways Co. (NASDAQ:JBLU) Receives $5.80 Consensus PT from Brokerages

Shares of JetBlue Airways Co. (NASDAQ:JBLU) have been given an average recommendation of “Reduce” by the ten ratings firms that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $5.98.

Several brokerages have issued reports on JBLU. Susquehanna upped their price objective on JetBlue Airways from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Bank of America upgraded JetBlue Airways from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $3.00 to $6.00 in a research note on Monday, September 9th. TD Cowen upped their target price on JetBlue Airways from $5.00 to $6.00 and gave the company a “hold” rating in a report on Friday, September 6th. Evercore ISI upped their target price on JetBlue Airways from $4.00 to $5.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. Finally, StockNews.com raised JetBlue Airways to a “sell” rating in a report on Friday, October 11th.

Hedge Funds Weigh In On JetBlue Airways

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new position in JetBlue Airways in the 1st quarter worth approximately $25,000. GAMMA Investing LLC grew its holdings in JetBlue Airways by 169.8% in the 1st quarter. GAMMA Investing LLC now owns 3,777 shares of the transportation company’s stock worth $28,000 after buying an additional 2,377 shares in the last quarter. Bogart Wealth LLC grew its holdings in JetBlue Airways by 1,951.2% in the 3rd quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company’s stock worth $28,000 after buying an additional 4,000 shares in the last quarter. Trust Co. of Vermont bought a new position in JetBlue Airways in the 2nd quarter worth approximately $27,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in JetBlue Airways in the 2nd quarter worth approximately $34,000. 83.71% of the stock is owned by institutional investors.

JetBlue Airways Trading Down 2.6 %

NASDAQ:JBLU opened at $6.99 on Friday. The business’s 50-day simple moving average is $6.02 and its 200 day simple moving average is $5.94. JetBlue Airways has a one year low of $3.42 and a one year high of $8.07. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of -2.83 and a beta of 1.92. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.50 and a current ratio of 0.54.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, July 30th. The transportation company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.26. JetBlue Airways had a negative return on equity of 10.29% and a negative net margin of 10.18%. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the prior year, the firm posted $0.45 earnings per share. JetBlue Airways’s revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, sell-side analysts predict that JetBlue Airways will post -0.91 earnings per share for the current fiscal year.

About JetBlue Airways

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A321, Airbus A220, Airbus A321neo, Airbus A320 Restyled, Airbus A320, Airbus A321 with Mint, Airbus A321neo with Mint, Airbus A321neoLR with Mint, and Embraer E190 aircraft. It also serves 100 destinations across the United States, the Caribbean and Latin America, Canada, and Europe.