Jetblue Airways Corp (NASDAQ: JBLU) Surprises Bears, Looks Strong In The Long Term

In the last trading session, 13.86 million Jetblue Airways Corp (NASDAQ:JBLU) shares changed hands as the company’s beta touched 1.74. With the company’s per share price at $4.40 changed hands at $0.21 or 5.01% during last session, the market valuation stood at $1.47B. JBLU’s last price was a discount, traded about -114.77% off its 52-week high of $9.45. The share price had its 52-week low at $3.42, which suggests the last value was 22.27% up since then. When we look at Jetblue Airways Corp’s average trading volume, we note the 10-day average is 15.08 million shares, with the 3-month average coming to 16.95 million.

Analysts gave the Jetblue Airways Corp (JBLU) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 3.36. If we narrow down to specifics, the data shows that 3 out of 14 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 Corp’s EPS for the current quarter is expected to be -$0.4.

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Jetblue Airways Corp (NASDAQ:JBLU) trade information

Instantly JBLU was in green as seen at the end of in last trading. With action 10.83%, the performance over the past five days has been green. The jump to weekly highs of 4.67 on Monday, 11/20/23 added 5.01% to the stock’s daily price. The company’s shares are showing year-to-date downside of -32.10%, with the 5-day performance at 10.83% in the green. However, in the 30-day time frame, Jetblue Airways Corp (NASDAQ:JBLU) is -1.79% down. Looking at the short shares, we see there were 39.38 million shares sold at short interest cover period of 2.57 days.

The consensus price target for the stock as assigned by Wall Street analysts is $4.47, meaning bulls need an upside of 1.57% from its current market value. According to analyst projections, JBLU’s forecast low is $3.00 with $6.00 as the target high. To hit the forecast high, the stock’s price needs a -36.36% plunge from its current level, while the stock would need to tank 31.82% for it to hit the projected low.

Jetblue Airways Corp (JBLU) estimates and forecasts

Data shows that the Jetblue Airways Corp 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 -36.60% over the past 6 months, a 35.00% in annual growth rate that is considerably higher than the industry average of -6.60%. 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 Corp will fall -281.80%, while the growth in revenue is estimated to hit -23.50% for the next quarter. Year-over-year growth is forecast to reach 4.00% 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 $2.24 billion. 6 analysts are of the opinion that Jetblue Airways Corp’s revenue for the quarter ending Mar 2024 will be $2.26 billion. The company’s revenue for the corresponding quarters a year ago was $2.42 billion and $2.33 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -7.20%. The estimates for the next quarter sales put growth at -3.10%.

The 2023 estimates are for Jetblue Airways Corp earnings to increase by 18.02%.

JBLU Dividends

Jetblue Airways Corp is expected to release its next quarterly earnings report between January 24 and January 29.

Jetblue Airways Corp (NASDAQ:JBLU)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.32% of Jetblue Airways Corp 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 Corp 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 $339.69 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 10.08% or 33.61 million shares worth $297.75 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Sep 29, 2023 were iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund. With 22.5 million shares estimated at $103.5 million under it, the former controlled 6.75% 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 $90.13 million.

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