JetBlue Airways Corporation (NASDAQ:JBLU) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of JetBlue Airways Corporation (NASDAQ:JBLU) have been assigned an average rating of “Reduce” from the eleven analysts that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $4.9333.

JBLU has been the topic of a number of research reports. Citigroup decreased their target price on shares of JetBlue Airways from $6.00 to $4.40 and set a “neutral” rating on the stock in a research note on Friday, March 20th. TD Cowen raised shares of JetBlue Airways from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 10th. Susquehanna boosted their target price on shares of JetBlue Airways from $4.00 to $5.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. BMO Capital Markets began coverage on shares of JetBlue Airways in a research note on Tuesday, March 24th. They set a “market perform” rating and a $4.50 target price on the stock. Finally, Wall Street Zen upgraded shares of JetBlue Airways from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd.

JetBlue Airways Stock Performance

Shares of NASDAQ:JBLU opened at $4.92 on Wednesday. The company’s 50 day simple moving average is $4.96 and its 200 day simple moving average is $4.97. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of -2.54 and a beta of 1.73. The company has a debt-to-equity ratio of 4.25, a current ratio of 0.70 and a quick ratio of 0.64. JetBlue Airways has a 1 year low of $3.84 and a 1 year high of $6.50.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings data on Tuesday, April 28th. The transportation company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.15). The firm had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.24 billion. JetBlue Airways had a negative net margin of 7.78% and a negative return on equity of 32.76%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business earned ($0.59) earnings per share. As a group, research analysts predict that JetBlue Airways will post -2.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Thomas Winkelmann sold 35,473 shares of JetBlue Airways stock in a transaction on Friday, May 1st. The shares were sold at an average price of $4.70, for a total transaction of $166,723.10. Following the transaction, the director owned 13,379 shares in the company, valued at approximately $62,881.30. The trade was a 72.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Vivek Sharma sold 32,000 shares of JetBlue Airways stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $5.41, for a total transaction of $173,120.00. Following the transaction, the director owned 35,479 shares in the company, valued at approximately $191,941.39. This trade represents a 47.42% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.41% of the stock is currently owned by insiders.

Hedge Funds Weigh In On JetBlue Airways

Hedge funds have recently modified their holdings of the business. ING Groep NV acquired a new position in shares of JetBlue Airways during the third quarter worth $4,920,000. Citigroup Inc. lifted its holdings in shares of JetBlue Airways by 91.0% during the third quarter. Citigroup Inc. now owns 813,375 shares of the transportation company’s stock worth $4,002,000 after purchasing an additional 387,543 shares during the period. U S Global Investors Inc. lifted its holdings in shares of JetBlue Airways by 4.9% during the fourth quarter. U S Global Investors Inc. now owns 4,728,754 shares of the transportation company’s stock worth $21,516,000 after purchasing an additional 219,622 shares during the period. SG Americas Securities LLC lifted its holdings in JetBlue Airways by 72.8% in the fourth quarter. SG Americas Securities LLC now owns 839,551 shares of the transportation company’s stock valued at $3,820,000 after buying an additional 353,606 shares during the period. Finally, GSA Capital Partners LLP lifted its holdings in JetBlue Airways by 185.8% in the fourth quarter. GSA Capital Partners LLP now owns 462,258 shares of the transportation company’s stock valued at $2,103,000 after buying an additional 300,522 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

About JetBlue Airways

JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.

The airline’s core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.