JetBlue Airways Corporation (NASDAQ:JBLU) Receives Average Rating of “Reduce” from Brokerages

Shares of JetBlue Airways Corporation (NASDAQ:JBLU) have been assigned an average recommendation of “Reduce” from the eleven research firms that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $5.0389.

A number of equities research analysts have weighed in on the stock. TD Cowen upped their price objective on shares of JetBlue Airways from $4.00 to $5.00 and gave the stock a “hold” rating in a report on Monday, September 8th. UBS Group lifted their price objective on JetBlue Airways from $3.00 to $4.00 and gave the company a “sell” rating in a research note on Friday, September 5th. Citigroup started coverage on JetBlue Airways in a report on Thursday, December 4th. They set a “sell” rating and a $4.10 price target for the company. Morgan Stanley reduced their price objective on shares of JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Monday, December 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of JetBlue Airways in a research note on Wednesday, October 8th.

JetBlue Airways Stock Up 1.0%

JBLU stock opened at $4.94 on Wednesday. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.77 and a current ratio of 0.82. JetBlue Airways has a fifty-two week low of $3.34 and a fifty-two week high of $8.31. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -3.74 and a beta of 1.76. The business’s 50 day moving average price is $4.51 and its two-hundred day moving average price is $4.66.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, October 28th. The transportation company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.03. The business had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.32 billion. JetBlue Airways had a negative return on equity of 19.87% and a negative net margin of 5.16%.The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.16) earnings per share. As a group, analysts forecast that JetBlue Airways will post -0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd increased its holdings in JetBlue Airways by 639.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock worth $29,000 after buying an additional 5,049 shares in the last quarter. Bogart Wealth LLC grew its stake in shares of JetBlue Airways by 12,727.3% in the third quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company’s stock worth $35,000 after acquiring an additional 7,000 shares during the period. HUB Investment Partners LLC bought a new stake in shares of JetBlue Airways in the second quarter worth approximately $45,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of JetBlue Airways during the second quarter valued at approximately $47,000. Finally, Ballentine Partners LLC bought a new position in JetBlue Airways during the second quarter valued at approximately $48,000. 83.71% of the stock is owned by institutional investors.

JetBlue Airways Company Profile

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.