JetBlue Airways Earns “Neutral” Rating from Zacks (JBLU)
JetBlue Airways (NASDAQ:JBLU)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued on Monday. They currently have a $13.00 target price on the stock. Zacks‘s price target indicates a potential upside of 6.30% from the company’s current price.
Zacks’ analyst wrote, “We maintain our Neutral recommendation on JetBlue Airways. The company remains committed to improve its return on invested capital based on revenue maximization, cost control efforts and strengthening of its balance sheet. Network expansion and increased focus on differentiated product offerings is expected to drive the company’s performance. We believe the recent slot wins in Reagan Washington National Airport, in addition to JetBlue’s emphasis on expansion in major growth regions like Boston, Fort Lauderdale, the Caribbean and Latin America, will support future growth. Moreover, elimination of certain long haul flights, fleet re-designing, cost-saving moves and lucrative strategic partnerships are expected to create tailwinds for JetBlue going ahead. However, increased price competition from rivals, rising pilot compensation and rise in other operating expenses remain major concerns for JetBlue. Further, divesting the LiveTV unit will negatively affect the carrier’s revenues somewhat.”
JetBlue Airways (NASDAQ:JBLU) traded down 1.45% on Monday, hitting $12.23. The stock had a trading volume of 4,862,478 shares. JetBlue Airways has a one year low of $6.04 and a one year high of $12.83. The stock has a 50-day moving average of $11.48 and a 200-day moving average of $9.76. The company has a market cap of $3.569 billion and a price-to-earnings ratio of 11.84.
JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings data 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 $0.68 earnings per share for the current fiscal year.
In other JetBlue Airways news, CAO Donald Daniels unloaded 6,000 shares of JetBlue Airways stock on the open market in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $12.33, for a total value of $73,980.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
JBLU has been the subject of a number of other recent research reports. Analysts at CRT Capital cut their price target on shares of JetBlue Airways from $14.50 to $14.00 in a research note on Thursday, August 21st. They now have a “buy” rating on the stock. Separately, analysts at S&P Equity Research raised their price target on shares of JetBlue Airways from $0.39 to $0.51 in a research note on Wednesday, August 20th. They now have an “average” rating on the stock. They noted that the move was a valuation call. Finally, 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, August 20th. They now have a $15.00 price target on the stock, up previously from $10.00. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $12.32.
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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