Imperial Capital Reaffirms Outperform Rating for JetBlue Airways (JBLU)

JetBlue Airways (NASDAQ:JBLU)‘s stock had its “outperform” rating reissued by Imperial Capital in a report issued on Friday. They currently have a $31.00 target price on the transportation company’s stock. Imperial Capital’s price objective suggests a potential upside of 51.22% from the company’s current price. Imperial Capital also issued estimates for JetBlue Airways’ Q1 2018 earnings at $0.14 EPS, Q3 2018 earnings at $0.69 EPS and FY2018 earnings at $1.90 EPS.

Other research analysts also recently issued research reports about the company. Stifel Nicolaus reissued a “hold” rating and set a $23.00 target price (up previously from $20.00) on shares of JetBlue Airways in a research note on Wednesday, January 10th. Cowen reissued a “market perform” rating and set a $23.00 target price (down previously from $24.00) on shares of JetBlue Airways in a research note on Friday. Stephens assumed coverage on JetBlue Airways in a research note on Wednesday, November 29th. They set an “equal weight” rating and a $22.00 target price for the company. JPMorgan Chase & Co. downgraded JetBlue Airways from an “overweight” rating to a “neutral” rating and set a $22.00 target price for the company. in a research note on Wednesday, November 1st. Finally, BidaskClub raised JetBlue Airways from a “sell” rating to a “hold” rating in a research note on Friday, December 22nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and two have given a strong buy rating to the company. JetBlue Airways currently has an average rating of “Hold” and a consensus target price of $24.02.

JetBlue Airways (NASDAQ JBLU) opened at $20.50 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market capitalization of $6,510.00, a PE ratio of 5.84 and a beta of 0.68. JetBlue Airways has a 52 week low of $18.05 and a 52 week high of $24.13.

JetBlue Airways (NASDAQ:JBLU) last issued its earnings results on Thursday, January 25th. The transportation company reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. JetBlue Airways had a return on equity of 14.20% and a net margin of 16.35%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 EPS. sell-side analysts forecast that JetBlue Airways will post 1.93 EPS for the current year.

JetBlue Airways declared that its board has initiated a stock buyback plan on Wednesday, December 13th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the transportation company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

In other news, EVP James G. Hnat sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $21.05, for a total value of $42,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP George Martin J. St sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $23.00, for a total value of $69,000.00. The disclosure for this sale can be found here. Insiders sold 19,665 shares of company stock valued at $412,388 in the last ninety days. 0.60% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in JBLU. Frontier Capital Management Co. LLC increased its stake in shares of JetBlue Airways by 47.0% in the fourth quarter. Frontier Capital Management Co. LLC now owns 5,293,229 shares of the transportation company’s stock valued at $118,251,000 after buying an additional 1,692,657 shares during the period. Bank of Nova Scotia acquired a new position in shares of JetBlue Airways in the second quarter valued at approximately $21,689,000. Disciplined Growth Investors Inc. MN increased its stake in shares of JetBlue Airways by 22.7% in the third quarter. Disciplined Growth Investors Inc. MN now owns 4,860,896 shares of the transportation company’s stock valued at $90,072,000 after buying an additional 899,775 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in JetBlue Airways by 207.0% in the second quarter. Parametric Portfolio Associates LLC now owns 1,311,934 shares of the transportation company’s stock valued at $29,951,000 after acquiring an additional 884,560 shares during the last quarter. Finally, Systematic Financial Management LP boosted its holdings in JetBlue Airways by 208.3% in the third quarter. Systematic Financial Management LP now owns 1,024,200 shares of the transportation company’s stock valued at $18,978,000 after acquiring an additional 691,975 shares during the last quarter. 89.49% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for JetBlue Airways (NASDAQ:JBLU)

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