JetBlue Airways Co. (NASDAQ:JBLU) – Research analysts at Imperial Capital lowered their FY2017 earnings per share (EPS) estimates for JetBlue Airways in a note issued to investors on Wednesday. Imperial Capital analyst M. Derchin now anticipates that the transportation company will post earnings of $1.78 per share for the year, down from their previous forecast of $1.80. Imperial Capital currently has a “Buy” rating and a $31.00 target price on the stock. Imperial Capital also issued estimates for JetBlue Airways’ Q4 2017 earnings at $0.35 EPS, Q2 2018 earnings at $0.60 EPS, Q3 2018 earnings at $0.63 EPS and Q4 2018 earnings at $0.53 EPS.
JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings data on Tuesday, October 24th. The transportation company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03. JetBlue Airways had a return on equity of 17.47% and a net margin of 9.87%. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the prior year, the business posted $0.58 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year.
Shares of JetBlue Airways (NASDAQ JBLU) opened at $22.57 on Friday. JetBlue Airways has a twelve month low of $18.05 and a twelve month high of $24.13. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $7,270.00, a price-to-earnings ratio of 11.52 and a beta of 0.68.
A number of hedge funds have recently modified their holdings of JBLU. Frontier Capital Management Co. LLC raised its stake in JetBlue Airways by 47.0% in the 4th quarter. Frontier Capital Management Co. LLC now owns 5,293,229 shares of the transportation company’s stock worth $118,251,000 after acquiring an additional 1,692,657 shares during the last quarter. Bank of Nova Scotia purchased a new position in JetBlue Airways in the 2nd quarter worth $21,689,000. Disciplined Growth Investors Inc. MN raised its stake in JetBlue Airways by 22.7% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 4,860,896 shares of the transportation company’s stock worth $90,072,000 after acquiring an additional 899,775 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in JetBlue Airways by 207.0% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,311,934 shares of the transportation company’s stock worth $29,951,000 after acquiring an additional 884,560 shares during the last quarter. Finally, Systematic Financial Management LP grew its position in JetBlue Airways by 208.3% during the 3rd quarter. Systematic Financial Management LP now owns 1,024,200 shares of the transportation company’s stock worth $18,978,000 after purchasing an additional 691,975 shares during the period. Institutional investors own 89.82% of the company’s stock.
In related news, EVP George Martin J. St sold 3,000 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $23.00, for a total value of $69,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joel Clinton Peterson sold 5,120 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $18.96, for a total value of $97,075.20. Following the completion of the transaction, the director now owns 539,702 shares of the company’s stock, valued at approximately $10,232,749.92. The disclosure for this sale can be found here. Insiders sold a total of 19,665 shares of company stock valued at $412,388 in the last 90 days. 0.60% of the stock is currently owned by company insiders.
JetBlue Airways announced that its Board of Directors has authorized a stock repurchase program on Wednesday, December 13th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
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.
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