JetBlue Airways (NASDAQ:JBLU) Shares Gap Up - Here's What Happened

Key Points

• JetBlue shares opened higher, rising from a previous close of $2.85 to $2.99 and last trading at $3.1820 on notable volume.
• Analyst sentiment remains negative: the stock has a consensus rating of “Reduce”, 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 reached $2.81 billion; the company continues to show weak profitability and high leverage, including a debt-to-equity ratio of 5.92.

JetBlue Airways Corporation (NASDAQ:JBLU - Get Free Report)'s stock price gapped up prior to trading on Monday. The stock had previously closed at $2.85, but opened at $2.99. JetBlue Airways shares last traded at $3.1820, with a volume of 5,132,148 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on JBLU. Seaport Research Partners cut shares of JetBlue Airways from a "buy" rating to a "neutral" rating in a research report on Monday, August 17th. Wall Street Zen lowered JetBlue Airways from a "sell" rating to a "strong sell" rating in a report on Saturday, August 22nd. Raymond James Financial lowered JetBlue Airways from a "market perform" rating to an "underperform" rating in a report on Monday, July 6th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of JetBlue Airways in a research report on Thursday, October 15th. Finally, BMO Capital Markets lowered their price target on JetBlue Airways from $6.75 to $5.25 and set a "market perform" rating on the stock in a report on Monday, September 28th. Nine equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average target price of $4.89.

JetBlue Airways Price Performance

The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 5.92. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -1.20 and a beta of 1.90. The stock's 50 day moving average price is $3.98 and its two-hundred day moving average price is $4.92.

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 analysts' consensus estimates of ($0.55) by ($0.05). JetBlue Airways had a negative net margin of 10.01% and a negative return on equity of 56.96%. The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same period in the previous year, the business posted ($0.40) EPS. JetBlue Airways's revenue for the quarter was up 21.1% on a year-over-year basis. Analysts anticipate that JetBlue Airways Corporation will post -2.73 EPS for the current fiscal year.

Institutional Investors Weigh In On JetBlue Airways

Large investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. lifted its stake in JetBlue Airways by 157.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 5,517 shares of the transportation company's stock valued at $25,000 after acquiring an additional 3,373 shares during the last quarter. Trust Co. of Vermont acquired a new position in shares of JetBlue Airways during the 2nd quarter worth $26,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of JetBlue Airways during the 2nd quarter valued at $27,000. Essential Partners LLC raised its holdings in shares of JetBlue Airways by 1,048.5% during the 1st quarter. Essential Partners LLC now owns 7,293 shares of the transportation company's stock valued at $32,000 after purchasing an additional 6,658 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of JetBlue Airways by 162.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,707 shares of the transportation company's stock valued at $44,000 after purchasing an additional 4,768 shares in the last quarter. Institutional investors own 83.71% of the company's stock.

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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