JetBlue Airways (NASDAQ:JBLU) Shares Gap Up Following Strong Earnings

Shares of JetBlue Airways Corporation (NASDAQ:JBLU) gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $4.36, but opened at $4.56. JetBlue Airways shares last traded at $4.55, with a volume of 13,785,464 shares.

The transportation company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.15. JetBlue Airways had a negative return on equity of 15.33% and a negative net margin of 4.22%. The business had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.26 billion.

Analysts Set New Price Targets

JBLU has been the topic of a number of research analyst reports. Bank of America decreased their price target on JetBlue Airways from $5.25 to $4.25 and set an “underperform” rating on the stock in a research note on Thursday, April 3rd. Citigroup set a $5.00 price target on JetBlue Airways and gave the stock a “neutral” rating in a research note on Tuesday. Barclays reissued an “underweight” rating on shares of JetBlue Airways in a research note on Tuesday. Susquehanna reissued a “neutral” rating on shares of JetBlue Airways in a research note on Tuesday. Finally, Wall Street Zen raised JetBlue Airways to a “sell” rating in a research note on Thursday, May 15th. Five equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat.com, JetBlue Airways has an average rating of “Hold” and a consensus price target of $5.16.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC acquired a new position in JetBlue Airways during the 2nd quarter worth $47,000. Ballentine Partners LLC acquired a new stake in shares of JetBlue Airways in the second quarter valued at $48,000. Alpha Wealth Funds LLC acquired a new stake in shares of JetBlue Airways in the second quarter valued at $51,000. GW Henssler & Associates Ltd. acquired a new stake in shares of JetBlue Airways in the first quarter valued at $52,000. Finally, Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of JetBlue Airways in the first quarter valued at $53,000. Institutional investors and hedge funds own 83.71% of the company’s stock.

JetBlue Airways Stock Performance

The company has a debt-to-equity ratio of 3.31, a current ratio of 1.01 and a quick ratio of 0.97. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of -4.08 and a beta of 1.76. The company has a fifty day moving average price of $4.58 and a two-hundred day moving average price of $5.23.

About JetBlue Airways

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A321, Airbus A220, Airbus A321neo, Airbus A320 Restyled, Airbus A320, Airbus A321 with Mint, Airbus A321neo with Mint, Airbus A321neoLR with Mint, and Embraer E190 aircraft. It also serves 100 destinations across the United States, the Caribbean and Latin America, Canada, and Europe.