Citigroup (NYSE:C) has maintained a neutral position on JetBlue Airways (NASDAQ:JBLU) this Tuesday, with a one-year price target set at $5.89. This suggests a potential upside of 30.10% from the airline's last closing price of $4.53. JetBlue's annual revenue is projected to grow by 1.73%, reaching $10,086 million, with its non-GAAP EPS estimated at 0.63.
According to InvestingPro data, JetBlue has a market cap of $1.560 billion and a revenue of $9.914 billion. The company's P/E Ratio stands at 57.44, which is significantly higher than the industry average, indicating that investors are willing to pay a higher price for the company's earnings. However, the P/E Ratio (Adjusted) for LTM2023.Q2 is projected to be 8.38, suggesting a more favorable valuation in the near term.
Despite a slight decrease in the number of institutional investors, down to 664 funds or institutions, total institutional shares have recently risen by 4.21% to 280,888K shares. The put/call ratio of JBLU stands at 0.50, which implies a bullish outlook for the company.
Among the notable shareholders, Donald Smith increased his portfolio allocation by 14.39%, now holding 11,053K shares of JetBlue. On the other hand, Wellington Management Group Llp decreased its portfolio allocation by 13.20%, currently owning 9,062K shares.
Other significant shareholders include VTSMX and IJH, which have increased their portfolio allocations by 14.22% and 16.05% respectively. They now hold 10,172K and 9,947K shares each. NAESX also holds a substantial stake in the company with 8,466K shares.
InvestingPro Tips suggest that JetBlue is operating with a significant debt burden and is quickly burning through cash. However, the company is trading at a low Price / Book multiple and a low P/E ratio relative to near-term earnings growth. While the stock price movements are quite volatile, and the company is not expected to be profitable this year, it has been profitable over the last twelve months. These insights, along with many more, are available on the InvestingPro platform.
JetBlue operates primarily in New York, Boston, Fort Lauderdale-Hollywood, Los Angeles, Orlando, and San Juan while providing services throughout the U.S., Caribbean, and Latin America. The company's revenue growth has been slowing down recently, with a quarterly growth of 6.75%, according to InvestingPro data.
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