JetBlue Airways (NASDAQ:JBLU) Trading Down 5%

JetBlue Airways Co. (NASDAQ:JBLU)’s share price fell 5% on Wednesday . The stock traded as low as $6.25 and last traded at $6.33. 5,056,079 shares traded hands during trading, a decline of 65% from the average session volume of 14,319,948 shares. The stock had previously closed at $6.66.

Wall Street Analyst Weigh In

JBLU has been the subject of several recent analyst reports. Citigroup dropped their price objective on shares of JetBlue Airways from $6.90 to $6.50 and set a “neutral” rating for the company in a report on Wednesday, May 29th. Barclays reduced their price objective on JetBlue Airways from $6.00 to $5.00 and set an “underweight” rating on the stock in a research note on Monday, May 6th. Susquehanna raised their target price on JetBlue Airways from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Tuesday, April 9th. TD Cowen upped their price target on shares of JetBlue Airways from $4.00 to $6.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. dropped their target price on shares of JetBlue Airways from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, April 24th. Five analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $5.75.

JetBlue Airways Price Performance

The company has a 50-day moving average price of $5.78 and a 200-day moving average price of $6.15. The firm has a market capitalization of $2.18 billion, a P/E ratio of -2.70 and a beta of 1.93. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.51 and a current ratio of 0.54.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, July 30th. The transportation company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.26. JetBlue Airways had a negative net margin of 8.79% and a negative return on equity of 5.72%. The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the company posted $0.45 EPS. JetBlue Airways’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, sell-side analysts predict that JetBlue Airways Co. will post -1.02 earnings per share for the current year.

Institutional Investors Weigh In On JetBlue Airways

Several large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC acquired a new stake in JetBlue Airways during the 1st quarter worth approximately $25,000. Trust Co. of Vermont acquired a new position in shares of JetBlue Airways during the 2nd quarter worth approximately $27,000. GAMMA Investing LLC grew its stake in shares of JetBlue Airways by 169.8% in the first quarter. GAMMA Investing LLC now owns 3,777 shares of the transportation company’s stock valued at $28,000 after buying an additional 2,377 shares in the last quarter. YHB Investment Advisors Inc. acquired a new stake in shares of JetBlue Airways during the 1st quarter worth $30,000. Finally, HBK Sorce Advisory LLC bought a new position in JetBlue Airways during the 4th quarter worth $58,000. 83.71% of the stock is currently 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.