JetBlue Airways (NASDAQ:JBLU) Given New $3.00 Price Target at Susquehanna

Key Points

• Susquehanna lowered JetBlue’s price target from $4.00 to $3.00 while maintaining a “neutral” rating, implying roughly 5.26% upside from the prior close.
• Analyst sentiment remains cautious: MarketBeat reports a consensus “Reduce” rating, with nine Hold ratings and four Sell ratings, and an average price target of $4.89.
• JetBlue reported a quarterly loss of $0.60 per share, missing estimates by $0.05, while revenue of $2.81 billion also fell slightly short of expectations; the company continues to face negative profitability and high leverage.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) had its price objective decreased by analysts at Susquehanna from $4.00 to $3.00 in a report issued on Thursday, Benzinga reports. The firm presently has a "neutral" rating on the transportation company's stock. Susquehanna's price objective would indicate a potential upside of 5.26% from the stock's previous close.

A number of other equities research analysts also recently weighed in on the stock. UBS Group upgraded shares of JetBlue Airways from a "sell" rating to a "neutral" rating and reduced their price target for the company from $4.00 to $3.50 in a research note on Monday, October 19th. Seaport Research Partners cut shares of JetBlue Airways from a "buy" rating to a "neutral" rating in a research report on Monday, August 17th. Citigroup raised shares of JetBlue Airways from a "sell" rating to a "neutral" rating and dropped their price objective for the company from $5.30 to $4.50 in a research note on Tuesday, October 6th. Raymond James Financial lowered shares of JetBlue Airways from a "market perform" rating to an "underperform" rating in a research report on Monday, July 6th. Finally, Wall Street Zen cut shares of JetBlue Airways from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 22nd. Nine investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $4.89.

JetBlue Airways Stock Performance

NASDAQ JBLU opened at $2.85 on Thursday. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 5.04. The company has a market capitalization of $1.08 billion, a P/E ratio of -1.06 and a beta of 1.77. JetBlue Airways has a 12-month low of $2.16 and a 12-month high of $6.62. The firm has a 50-day moving average price of $4.06 and a two-hundred day moving average price of $4.94.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last released its earnings results on Monday, October 26th. The transportation company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.05). The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.83 billion. JetBlue Airways had a negative net margin of 9.32% and a negative return on equity of 45.92%. The business's revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.40) EPS. Analysts anticipate that JetBlue Airways will post -2.77 earnings per share for the current year.

Institutional Trading of JetBlue Airways

A number of institutional investors and hedge funds have recently bought and sold shares of JBLU. U S Global Investors Inc. grew its holdings in 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 acquiring an additional 505,067 shares during the period. Bank of America Corp DE acquired a new position in shares of JetBlue Airways in the 2nd quarter valued at about $20,022,000. Primecap Management Co. CA acquired a new position in shares of JetBlue Airways in the 2nd quarter valued at about $13,549,000. Bank of New York Mellon Corp bought a new stake in shares of JetBlue Airways during the 2nd quarter valued at about $11,336,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of JetBlue Airways during the 2nd quarter valued at about $10,748,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

JetBlue Airways Company Profile

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.

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