We Maintain Our FVE as JetBlue Delivers Growth and Capacity Expansion
JetBlue Airways reported second-quarter results in line with our expectations. We are maintaining our no-moat rating and expect to maintain our $19 fair value estimate. JetBlue slightly beat consensus estimates for earnings per share and reported revenue in line with expectations. It reaffirmed it’s on track to meet its $2.50-$3.00 EPS target for fiscal 2020. Reported sales increased 9.2% year over year to $2.1 billion. Passenger and nonpassenger revenue grew 9.3% and 5.3%, respectively. JetBlue...JetBlue Airways provides air transportation services. The company also provides Fare Options pricing model, at one of three branded fares: Blue, Blue Plus, and Blue Flex. Each fare includes different offerings such as checked bags, reduced change fees, and additional TrueBlue? points, with all fares including the company's primary offering of in-flight entertainment, snacks and non-alcoholic beverages. TrueBlue? is the company's customer loyalty program designed to reward and recognize loyal customers. The company operates Airbus A321, Airbus A320 and Embraer E190 aircraft types. The company also sells vacation packages through JetBlue Vacations?, a vacation service for self-directed packaged travel planning.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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