JetBlue (JBLU) Surges 8.8%: Is This an Indication of Further Gains?

Zacks Equity Research

28 June 2023 at 8:45 am·2-min read

JetBlue Airways (JBLU) shares rallied 8.8% in the last trading session to close at $8.76. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 17.9% gain over the past four weeks.

The uptick in JBLU's stockprice was owing to Delta Air Lines' DAL bullish projections for the second quarter as well as full-year 2023. The upbeat projections were attributable to the buoyant air-travel demand scenario. Delta's bullish views had a positive impact on the entire airline industry

This airline is expected to post quarterly earnings of $0.36 per share in its upcoming report, which represents a year-over-year change of +176.6%. Revenues are expected to be $2.61 billion, up 6.7% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For JetBlue, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on JBLU going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

JetBlue belongs to the Zacks Transportation - Airline industry. Another stock from the same industry, Sun Country Airlines Holdings, Inc. (SNCY), closed the last trading session 4.3% higher at $20.97. Over the past month, SNCY has returned 9.5%.

For Sun Country Airlines Holdings, Inc. , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.40. This represents a change of +1433.3% from what the company reported a year ago. Sun Country Airlines Holdings, Inc. currently has a Zacks Rank of #3 (Hold).

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

JetBlue Airways Corporation (JBLU) : Free Stock Analysis Report

Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report

Sun Country Airlines Holdings, Inc. (SNCY) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The Daily Beast
Conservatives Routed in Worst Election Result for 200 Years
LONDON—The Conservatives, the world’s winningest political party, were booted out of power in dramatic style on Thursday after 14 years of chaotic and divisive rule.The Labour Party had secured a landslide victory, ending an era of Conservative rule over Britain that stretches back to 2010; the year that the iPad and Instagram were launched and Lady Gaga wore that meat dress to the MTV music awards.In that time, the Conservatives have cycled through five leaders, each of them dragging the party
The Telegraph
Horrifying moment husband wheels suitcase containing murdered wife from home while carrying child
A husband who strangled his wife in front of her two children and lover on a video call was captured wheeling the suitcase containing her body out of his home.
NextShark
16-year-old Chinese boy beat with iron rod on New Zealand bus
On Friday morning, during the Maori New Year public holiday, a 16-year-old teen named Jason was brutally attacked on an Auckland bus by a woman wielding an iron rod. The assailant, described as a Maori woman “more than 200 kilograms," hit Jason multiple times and stabbed him in the face, knocking out five of his teeth, on board the bus after having allegedly shouted "ch*nk" at him at Johns Lane stop. Man intervenes: A 75-year-old Chinese man, Penglai Qiuyue, intervened and managed to grab the weapon, though he was also injured in the process.
The Telegraph
The world must prepare for President Michelle Obama
The 2024 US Presidential race intensifies. Speculation abounds over potential replacements for President Joe Biden amid increasing pressure from his party and the media to step aside after a jaw-dropping, catastrophic debate against Donald Trump last week. Among the names circulating, a game-changer is emerging: Michelle Obama. Could this be America’s worst nightmare?
Cinema Online
Joyce Chen confirms she has become a mother
The TVB actress shares photos of her and her daughter, not revealing partner's identity
Malay Mail
As AG stays silent, Rosmah presses on with bid to strike out money laundering and tax evasion charges
KUALA LUMPUR, July 4 — Datin Seri Rosmah Mansor's money laundering and tax evasion trial proceeded today despite the lac...
The Independent
Embattled Biden makes latest gaffe saying he’s the ‘first Black woman to serve with a Black president’
President’s July 4 blunder comes as he desperately tries to claw back confidence among voters and party members after last week’s debate flop
Malay Mail
When Ms ‘Malaysia’ visits Malaysia: American tourist gets warm welcome from locals awed by unique name (VIDEO)
KUALA LUMPUR, July 5 — An American tourist decided to visit Malaysia for a special reason: Malaysia also happens to be h...
Futurism
The Head of NASA Is Being Awfully Catty About China's Amazing New Moon Samples
China recently became the first country to ever return samples taken from the far side of the Moon, a historic mission that could have profound implications on our understanding of its evolution and ability to host human life. But thanks to a law called the Wolf Amendment, which was enacted by the US government in […]
INSIDER
How Obama mentored the new UK prime minister to help him tell his story
The leader of the Labour Party, Keir Starmer, has been mentored by Barack Obama. The relationship is likely to continue if Starmer wins the UK election.
The Telegraph
Beijing is laughing at the West’s weakness
Russian aggression in Ukraine poses a threat to world peace and stability. China provides material support for Russia’s actions. All this is entirely clear. In Beijing, immediately after a meeting with Xi Jinping in April this year, US Secretary of State Antony Blinken said that “Russia would struggle to sustain its assault on Ukraine without China’s support”. This included selling huge quantities of machine tools and micro-electronics that would be used in the Russian defence industry.
The Independent
Voices: Tory downfall: The 9 reasons it has all gone wrong for Rishi Sunak
A series of world events, poor decisions and fatal gaffes conspired to see Rishi Sunak lead the Tories to the worst electoral defeat in his party’s 346-year history
CNN
Opinion: What Britain’s first Asian prime minister meant to my family
The defeat of the Conservative Party in the UK election ends Rishi Sunak’s two-year premiership. Does it also sour the story of Britain’s first Asian prime minister, asks Sunder Katwala.
Malay Mail
What you should know about: Malaysia’s proposed ‘lemon law’ for cars
Malaysia is proposing a so-called “lemon law” that would provide vehicle buyers in the country more protection against f...
Bloomberg
These flight routes suffer the world’s worst turbulence
A series of incidents that left scores of airline passengers needing medical attention has shone a spotlight on the problem of severe in-flight turbulence.
Storyful
Canadian Police Seek Suspects in Pants-on-Fire Arson
One of two suspects in an arson in Richmond, British Columbia, set himself on fire and “despite efforts of both the suspects, [his] pants continued to burn,” according to Royal Canadian Mounted Police (RCMP).The RCMP released footage of the incident, which they said occurred in the early hours of April 24.“At approximately 4:30 am Richmond RCMP attended for an alarm at a business located in the 2600 block of Simpson Road,” police said.“Frontline officers located a broken window and small fire directly in front of it. Evidence was also located which indicated the fire had been intentionally set.“A subsequent review of video surveillance from the area determined that two unidentified men wearing masks had approached the business on foot prior to allegedly smashing the window and then lighting an object on fire. While lighting it, one of the suspect
Malay Mail
PKR-linked think-tank says Sungai Bakap race too close to call
KUALA LUMPUR, July 5 — Pakatan Harapan’s Joohari Ariffin could win the Sungai Bakap by-election in Penang tomorrow if hi...
Malay Mail
Blackpink’s Jennie won’t be coming, so why is there a big fuss at TRX’s Gentle Monster tomorrow? (VIDEO)
KUALA LUMPUR, July 4 — Jennie of K-pop girl group Blackpink will not be coming to Kuala Lumpur, so why is there still a...
The Telegraph
Zelensky U-turns as he invites Russia to attend peace summit without giving up land
Volodymyr Zelensky has invited Russia to the next peace summit despite previously saying it could only join if it relinquished land in Ukraine.
Entertainment Weekly
Victoria and David Beckham rewear purple wedding outfits to celebrate 25th anniversary: 'Look what we found'
The soccer star and Spice Girls singer married July 4, 1999.

Latest stories