Morgan Stanley Reaffirms “Equal Weight” Rating for JetBlue Airways Corporation (JBLU)
JetBlue Airways Corporation (NASDAQ:JBLU)‘s stock had its “equal weight” rating restated by analysts at Morgan Stanley in a report issued on Wednesday. They presently have a $20.00 target price on the transportation company’s stock, down from their prior target price of $21.00. Morgan Stanley’s target price points to a potential upside of 3.47% from the stock’s current price.
Several other brokerages have also weighed in on JBLU. Standpoint Research restated a “buy” rating on shares of JetBlue Airways Corporation in a report on Sunday, September 3rd. Bank of America Corporation raised their target price on JetBlue Airways Corporation from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, June 30th. BidaskClub lowered JetBlue Airways Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Cowen and Company lifted their target price on JetBlue Airways Corporation from $24.00 to $25.00 and gave the stock a “market perform” rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research lowered JetBlue Airways Corporation from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $25.17.
JetBlue Airways Corporation (NASDAQ JBLU) traded down 2.47% on Wednesday, hitting $19.33. The stock had a trading volume of 7,684,241 shares. The stock has a 50-day moving average of $19.46 and a 200-day moving average of $21.35. JetBlue Airways Corporation has a one year low of $16.85 and a one year high of $24.13. The company has a market cap of $6.36 billion, a PE ratio of 9.81 and a beta of 0.59.
JetBlue Airways Corporation (NASDAQ:JBLU) last issued its quarterly earnings results on Tuesday, July 25th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. JetBlue Airways Corporation had a return on equity of 16.75% and a net margin of 9.78%. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period last year, the company posted $0.53 EPS. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. Equities analysts expect that JetBlue Airways Corporation will post $1.87 earnings per share for the current fiscal year.
In related news, EVP James G. Hnat sold 6,000 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $21.98, for a total value of $131,880.00. Following the completion of the sale, the executive vice president now directly owns 25,992 shares of the company’s stock, valued at approximately $571,304.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robin Hayes sold 2,000 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $22.03, for a total value of $44,060.00. Following the completion of the sale, the chief executive officer now directly owns 406,362 shares of the company’s stock, valued at $8,952,154.86. The disclosure for this sale can be found here. Insiders sold a total of 26,740 shares of company stock valued at $552,509 in the last ninety days. Company insiders own 0.60% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in JBLU. Vanguard Group Inc. increased its holdings in shares of JetBlue Airways Corporation by 7.8% in the 1st quarter. Vanguard Group Inc. now owns 28,930,739 shares of the transportation company’s stock valued at $596,262,000 after purchasing an additional 2,085,912 shares during the period. BlackRock Inc. lifted its position in shares of JetBlue Airways Corporation by 13,299.6% in the first quarter. BlackRock Inc. now owns 27,408,463 shares of the transportation company’s stock worth $564,889,000 after purchasing an additional 27,203,916 shares in the last quarter. FMR LLC lifted its position in shares of JetBlue Airways Corporation by 2.2% in the second quarter. FMR LLC now owns 19,075,077 shares of the transportation company’s stock worth $435,484,000 after purchasing an additional 404,086 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of JetBlue Airways Corporation by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 11,035,605 shares of the transportation company’s stock worth $251,947,000 after purchasing an additional 230,067 shares in the last quarter. Finally, State Street Corp lifted its position in shares of JetBlue Airways Corporation by 0.5% in the second quarter. State Street Corp now owns 8,325,116 shares of the transportation company’s stock worth $190,058,000 after purchasing an additional 40,286 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.
About JetBlue Airways Corporation
JetBlue Airways Corporation is a passenger carrier company. The Company provides air transportation services across the United States, the Caribbean and Latin America. Its segments include Domestic, and Caribbean & Latin America. It operates various kinds of aircrafts, including Airbus A321, Airbus A320 and Embraer E190.
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