Citigroup Lowers JetBlue Airways (NASDAQ:JBLU) Price Target to $4.40

Key Points

• Citigroup cut its price target on JetBlue from $6.00 to $4.40 and kept a "neutral" rating, with the new target implying roughly a 9.8% upside from the stock's current price.
• MarketBeat's consensus rating for JetBlue is "Reduce" with an average target of $4.83, and analysts are split (1 Strong Buy, 6 Hold, 5 Sell).
• Shares traded near $4.01 after the company reported negative EPS of ($0.49) that missed estimates; JetBlue also has a negative net margin and ROE, and analysts forecast -$0.69 EPS for the year.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) had its target price cut by equities research analysts at Citigroup from $6.00 to $4.40 in a report released on Friday,Benzinga reports. The firm presently has a "neutral" rating on the transportation company's stock. Citigroup's price objective would suggest a potential upside of 9.78% from the stock's current price.

Several other equities analysts have also issued reports on JBLU. JPMorgan Chase & Co. lifted their price target on shares of JetBlue Airways from $5.00 to $6.00 and gave the stock a "neutral" rating in a report on Wednesday, January 28th. Susquehanna boosted their target price on JetBlue Airways from $4.55 to $5.00 and gave the stock a "neutral" rating in a research note on Friday, January 9th. The Goldman Sachs Group increased their price target on JetBlue Airways from $3.50 to $4.00 and gave the company a "sell" rating in a research note on Tuesday, January 13th. UBS Group cut their price objective on shares of JetBlue Airways from $4.00 to $3.50 and set a "sell" rating on the stock in a report on Monday. Finally, Evercore increased their price objective on shares of JetBlue Airways from $5.00 to $6.00 and gave the company an "in-line" rating in a research report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, JetBlue Airways presently has a consensus rating of "Reduce" and an average target price of $4.83.

JetBlue Airways Price Performance

Shares of NASDAQ JBLU traded down $0.10 during midday trading on Friday, reaching $4.01. 18,820,845 shares of the stock traded hands, compared to its average volume of 21,311,783. The company's 50 day moving average is $5.24 and its 200 day moving average is $4.89. JetBlue Airways has a one year low of $3.34 and a one year high of $6.50. The company has a debt-to-equity ratio of 3.65, a current ratio of 0.74 and a quick ratio of 0.69. The stock has a market capitalization of $1.48 billion, a PE ratio of -2.40 and a beta of 1.72.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last released its quarterly earnings results on Tuesday, January 27th. The transportation company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.45) by ($0.04). The business had revenue of $2.24 billion for the quarter, compared to analysts' expectations of $2.22 billion. JetBlue Airways had a negative net margin of 6.64% and a negative return on equity of 25.62%. JetBlue Airways's revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.21) EPS. On average, equities research analysts anticipate that JetBlue Airways will post -0.69 earnings per share for the current year.

Hedge Funds Weigh In On JetBlue Airways

Hedge funds have recently made changes to their positions in the company. Rockefeller Capital Management L.P. grew its stake in shares of JetBlue Airways by 157.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company's stock valued at $25,000 after buying an additional 3,373 shares during the period. Caitong International Asset Management Co. Ltd grew its position in JetBlue Airways by 639.1% in the third quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company's stock worth $29,000 after acquiring an additional 5,049 shares during the period. Kestra Advisory Services LLC acquired a new stake in JetBlue Airways during the fourth quarter worth $30,000. Leonteq Securities AG purchased a new stake in JetBlue Airways in the fourth quarter valued at $32,000. Finally, Bogart Wealth LLC lifted its stake in shares of JetBlue Airways by 12,727.3% in the 3rd quarter. Bogart Wealth LLC now owns 7,055 shares of the transportation company's stock valued at $35,000 after purchasing an additional 7,000 shares during the last quarter. 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.

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