JetBlue Airways (JBLU) to Buyback $750.00 million in Outstanding Shares
JetBlue Airways (NASDAQ:JBLU) announced that its board has approved a stock buyback program, which authorizes the company to repurchase $750.00 million in shares on Wednesday, December 13th, EventVestor reports. This repurchase authorization authorizes the transportation company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
Shares of JetBlue Airways (NASDAQ:JBLU) traded down $0.31 during midday trading on Friday, reaching $21.18. 5,515,100 shares of the company were exchanged, compared to its average volume of 5,829,946. JetBlue Airways has a one year low of $18.05 and a one year high of $24.13. The stock has a market cap of $6,890.70, a PE ratio of 11.08 and a beta of 0.68. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.56 and a current ratio of 0.56.
JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Tuesday, October 24th. The transportation company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. JetBlue Airways had a net margin of 9.38% and a return on equity of 15.95%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same period last year, the company posted $0.58 EPS. JetBlue Airways’s revenue was up 4.7% on a year-over-year basis. research analysts anticipate that JetBlue Airways will post 1.74 earnings per share for the current year.
In other JetBlue Airways news, Director Joel Clinton Peterson sold 5,120 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $18.45, for a total transaction of $94,464.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP George Martin J. St sold 2,500 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $21.59, for a total transaction of $53,975.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,785 shares of company stock valued at $448,492. 0.60% of the stock is currently owned by corporate insiders.
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About JetBlue Airways
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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