JetBlue Airways Trading Up 3.4% After Analyst Upgrade (JBLU)
JetBlue Airways (NASDAQ:JBLU) shares rose 3.4% during mid-day trading on Wednesday after S&P Equity Research raised their price target on the stock from $0.39 to $0.51, Analyst RN reports. S&P Equity Research currently has an average rating on the stock. JetBlue Airways traded as high as $12.82 and last traded at $12.75, with a volume of 9,022,420 shares trading hands. The stock had previously closed at $12.33.
Several other analysts have also recently commented on the stock. Analysts at Cowen and Company upgraded shares of JetBlue Airways from a “market perform” rating to an “outperform” rating in a research note on Wednesday. They now have a $15.00 price target on the stock, up previously from $10.00. Separately, analysts at Imperial Capital raised their price target on shares of JetBlue Airways from $10.00 to $20.00 in a research note on Wednesday, August 6th. They now have an “outperform” rating on the stock. Finally, analysts at Argus raised their price target on shares of JetBlue Airways from $10.00 to $14.00 in a research note on Friday, August 1st. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $12.30.
The stock’s 50-day moving average is $11.10 and its 200-day moving average is $9.55. The company has a market cap of $3.724 billion and a P/E ratio of 11.77. JetBlue Airways also was the target of some unusual options trading activity on Monday. Traders bought 9,133 call options on the company. This represents an increase of approximately 314% compared to the average volume of 2,204 call options.
JetBlue Airways (NASDAQ:JBLU) last released its earnings results on Thursday, July 24th. The company reported $0.19 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.19. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the company posted $0.11 earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. On average, analysts predict that JetBlue Airways will post $0.69 earnings per share for the current fiscal year.
JetBlue Airways Corporation (NASDAQ:JBLU) is a passenger airline that operates primarily on point-to-point routes with its fleet of 120 Airbus A320 aircraft and 49 EMBRAER 190 aircraft.
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