Key Points
- JetBlue director Nik Mittal bought 100,000 shares for $324,000 at an average price of $3.24, boosting his stake by 72.18% to 238,537 shares.
- JetBlue’s latest quarter missed expectations: it reported a $0.60 loss per share versus a forecasted $0.55 loss, while revenue of $2.81 billion also came in below estimates despite rising 21.1% year over year.
- Analyst sentiment is cautious, with a consensus “Reduce” rating and a $4.89 price target; nine analysts rate the stock Hold and four rate it Sell.
JetBlue Airways Corporation (NASDAQ:JBLU - Get Free Report) Director Nik Mittal acquired 100,000 shares of the business's stock in a transaction on Tuesday, November 3rd. The shares were purchased at an average price of $3.24 per share, with a total value of $324,000.00. Following the transaction, the director owned 238,537 shares in the company, valued at $772,859.88. The trade was a 72.18% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
JetBlue Airways Stock Performance
NASDAQ JBLU opened at $3.54 on Thursday. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 5.92. JetBlue Airways Corporation has a 12-month low of $2.16 and a 12-month high of $6.62. The business's 50 day moving average is $3.88 and its two-hundred day moving average is $4.90.
JetBlue Airways (NASDAQ:JBLU - Get Free Report) last released its quarterly earnings data on Monday, October 26th. The transportation company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.05). JetBlue Airways had a negative return on equity of 56.96% and a negative net margin of 10.01%. The business had revenue of $2.81 billion during the quarter, compared to analysts' expectations of $2.83 billion. During the same quarter in the previous year, the company posted ($0.40) EPS. The company's revenue was up 21.1% compared to the same quarter last year. As a group, analysts expect that JetBlue Airways Corporation will post -2.73 earnings per share for the current fiscal year.
Institutional Trading of JetBlue Airways
Several large investors have recently modified their holdings of the business. U S Global Investors Inc. increased its stake in shares of JetBlue Airways by 8.4% during the 3rd quarter. U S Global Investors Inc. now owns 6,501,298 shares of the transportation company's stock worth $27,500,000 after purchasing an additional 505,067 shares in the last quarter. Bank of America Corp DE purchased a new stake in JetBlue Airways in the 2nd quarter valued at approximately $20,022,000. Primecap Management Co. CA acquired a new stake in JetBlue Airways during the 2nd quarter valued at $13,549,000. Bank of New York Mellon Corp acquired a new stake in JetBlue Airways during the 2nd quarter valued at $11,336,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in JetBlue Airways during the second quarter worth $10,748,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
JBLU has been the subject of several recent analyst reports. Barclays reduced their price objective on shares of JetBlue Airways from $7.00 to $5.00 and set an "equal weight" rating for the company in a research note on Friday, September 11th. Susquehanna lowered their target price on shares of JetBlue Airways from $4.00 to $3.00 and set a "neutral" rating on the stock in a research report on Thursday, October 29th. Citigroup raised shares of JetBlue Airways from a "sell" rating to a "neutral" rating and dropped their target price for the company from $5.30 to $4.50 in a report on Tuesday, October 6th. Weiss Ratings reiterated a "sell (d-)" rating on shares of JetBlue Airways in a research report on Thursday, October 15th. Finally, Wall Street Zen lowered JetBlue Airways from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 22nd. Nine equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $4.89.
Read Our Latest Analysis on JBLU
Key Headlines Impacting JetBlue Airways
Here are the key news stories impacting JetBlue Airways this week:
- Positive Sentiment: JetBlue joined a broader airline rally as oil prices fell sharply, potentially lowering fuel expenses. The report noted JetBlue’s comparatively limited buffer against fuel-cost swings. JetBlue Surges as Oil Prices Slide
- Positive Sentiment: Director Nik Mittal bought 100,000 shares for $324,000, increasing his stake by about 72%. The sizable purchase may signal confidence in the company. SEC filing on director’s share purchase
- Positive Sentiment: JetBlue is adding nonstop service from Fort Lauderdale to Indianapolis and Columbus, expanding its network and advancing its JetForward strategy. JetBlue adds nonstop routes
- Neutral Sentiment: Chief Digital and Technology Officer Carol Clements sold 2,000 shares under a pre-arranged trading plan, a small reduction in her holdings. SEC filing on insider sale
- Negative Sentiment: JetBlue raised checked-bag fees for the third time in less than a year, with some first-bag fees reaching $70 during peak travel periods. The increase may help offset higher costs, but also highlights profit pressure and could weigh on customer demand. JetBlue raises checked-bag fees
- Negative Sentiment: Short interest rose 9.2% from September 30 to 32.87% of the float, indicating substantial bearish positioning and potential volatility. JetBlue short interest data
JetBlue Airways Company Profile
(
Get Free Report)
JetBlue Airways Corporation is a U.S.-based passenger airline that provides scheduled air transportation to destinations across the United States, the Caribbean, Latin America and select locations in Europe. The company operates primarily from focus cities including New York, Boston, Fort Lauderdale, Orlando and Los Angeles, with a network designed to connect major metropolitan areas and leisure destinations.
JetBlue offers multiple classes and service options, including standard economy seating, extra-legroom EvenMore seats and its premium Mint service on select routes.
Further Reading
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