In the last trading session, 21.59 million JetBlue Airways Corporation (NASDAQ:JBLU) shares changed hands as the company’s beta touched 1.69. With the company’s per share price at $4.69 changed hands at -$0.28 or -5.63% during last session, the market valuation stood at $1.61B. JBLU’s last price was a discount, traded about -101.49% off its 52-week high of $9.45. The share price had its 52-week low at $4.88, which suggests the last value was -4.05% down since then. When we look at JetBlue Airways Corporation’s average trading volume, we note the 10-day average is 26.35 million shares, with the 3-month average coming to 17.46 million.
Analysts gave the JetBlue Airways Corporation (JBLU) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 3.20. If we narrow down to specifics, the data shows that 2 out of 13 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 9 recommended JBLU as a Hold, 1 felt it is a Buy and 1 rated the stock as Underweight. JetBlue Airways Corporation’s EPS for the current quarter is expected to be -$0.12.
JetBlue Airways Corporation (NASDAQ:JBLU) trade information
Instantly JBLU was in red as seen at the end of in last trading. With action -9.11%, the performance over the past five days has been red. The drop to weekly highs of 5.26 on Monday, 09/18/23 subtracted -5.63% to the stock’s daily price. The company’s shares are showing year-to-date downside of -27.62%, with the 5-day performance at -9.11% in the red. However, in the 30-day time frame, JetBlue Airways Corporation (NASDAQ:JBLU) is -27.40% down. Looking at the short shares, we see there were 28.49 million shares sold at short interest cover period of 1.75 days.
The consensus price target for the stock as assigned by Wall Street analysts is $6.41, meaning bulls need an upside of 26.83% from its current market value. According to analyst projections, JBLU’s forecast low is $4.00 with $9.00 as the target high. To hit the forecast high, the stock’s price needs a -91.9% plunge from its current level, while the stock would need to tank 14.71% for it to hit the projected low.
JetBlue Airways Corporation (JBLU) estimates and forecasts
Data shows that the JetBlue Airways Corporation share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -32.23% over the past 6 months, a 111.25% in annual growth rate that is considerably higher than the industry average of 13.00%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for JetBlue Airways Corporation will fall -157.10%, while the growth in revenue is estimated to hit -81.80% for the next quarter. Year-over-year growth is forecast to reach 6.80% up from the last financial year.
Consensus estimates given by 11 financial analysts project the company’s revenue in the current quarter to hit an average of $2.41 billion. 11 analysts are of the opinion that JetBlue Airways Corporation’s revenue for the quarter ending Dec 2023 will be $2.43 billion. The company’s revenue for the corresponding quarters a year ago was $2.56 billion and $2.42 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -5.90%. The estimates for the next quarter sales put growth at 0.70%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -21.30%. The 2023 estimates are for JetBlue Airways Corporation earnings to decrease by -95.50%.
JetBlue Airways Corporation is expected to release its next quarterly earnings report between October 23 and October 27.
JetBlue Airways Corporation (NASDAQ:JBLU)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.32% of JetBlue Airways Corporation shares while 74.06% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 74.30%. There are 74.06% institutions holding the JetBlue Airways Corporation stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 11.50% of the shares, roughly 38.34 million JBLU shares worth $179.81 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 10.08% or 33.61 million shares worth $157.61 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Aug 30, 2023 were iShares Core S&P Midcap ETF and Vanguard Total Stock Market Index Fund. With 10.59 million shares estimated at $49.66 million under it, the former controlled 3.18% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 3.05% of the shares, roughly 10.17 million shares worth around $47.71 million.