Zacks: Brokerages Expect JetBlue Airways Co. (JBLU) Will Post Quarterly Sales of $2.01 Billion

Wall Street brokerages expect JetBlue Airways Co. (NASDAQ:JBLU) to announce $2.01 billion in sales for the current quarter, Zacks reports. Five analysts have made estimates for JetBlue Airways’ earnings. The lowest sales estimate is $2.01 billion and the highest is $2.02 billion. JetBlue Airways posted sales of $1.81 billion in the same quarter last year, which suggests a positive year over year growth rate of 11%. The company is scheduled to report its next quarterly earnings report before the market opens on Tuesday, October 23rd.

According to Zacks, analysts expect that JetBlue Airways will report full-year sales of $7.66 billion for the current fiscal year, with estimates ranging from $7.63 billion to $7.69 billion. For the next year, analysts forecast that the firm will report sales of $8.32 billion, with estimates ranging from $8.15 billion to $8.42 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for JetBlue Airways.

JetBlue Airways (NASDAQ:JBLU) last announced its earnings results on Tuesday, July 24th. The transportation company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.93 billion. JetBlue Airways had a net margin of 11.30% and a return on equity of 10.80%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 EPS.

JBLU has been the topic of several recent research reports. Wolfe Research restated an “underperform” rating on shares of JetBlue Airways in a research report on Friday, August 24th. BidaskClub upgraded shares of JetBlue Airways from a “hold” rating to a “buy” rating in a research report on Wednesday, August 22nd. Cowen decreased their target price on shares of JetBlue Airways from $22.00 to $20.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 25th. Imperial Capital upped their target price on shares of JetBlue Airways from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Thursday, September 27th. Finally, Bank of America set a $16.00 target price on shares of JetBlue Airways and gave the company a “sell” rating in a research report on Wednesday, October 3rd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. JetBlue Airways currently has a consensus rating of “Hold” and an average price target of $21.67.

Shares of NASDAQ JBLU opened at $16.36 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.56 and a current ratio of 0.59. The stock has a market cap of $6.06 billion, a PE ratio of 9.57, a price-to-earnings-growth ratio of 1.28 and a beta of 0.49. JetBlue Airways has a 12-month low of $16.03 and a 12-month high of $23.08.

In related news, EVP George Martin J. St sold 3,000 shares of the stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $19.39, for a total value of $58,170.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP James G. Hnat sold 6,000 shares of the stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $19.30, for a total transaction of $115,800.00. Following the completion of the sale, the executive vice president now directly owns 3,437 shares in the company, valued at $66,334.10. The disclosure for this sale can be found here. Insiders sold a total of 13,000 shares of company stock worth $248,150 over the last three months. 0.63% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of JBLU. HPM Partners LLC increased its position in shares of JetBlue Airways by 13.5% during the second quarter. HPM Partners LLC now owns 23,573 shares of the transportation company’s stock worth $447,000 after acquiring an additional 2,796 shares during the period. Janus Henderson Group PLC increased its position in shares of JetBlue Airways by 23.1% during the second quarter. Janus Henderson Group PLC now owns 15,728 shares of the transportation company’s stock worth $299,000 after acquiring an additional 2,956 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of JetBlue Airways by 2.9% during the second quarter. Oregon Public Employees Retirement Fund now owns 127,529 shares of the transportation company’s stock worth $2,421,000 after acquiring an additional 3,590 shares during the period. Vident Investment Advisory LLC increased its position in shares of JetBlue Airways by 2.0% during the second quarter. Vident Investment Advisory LLC now owns 184,775 shares of the transportation company’s stock worth $3,507,000 after acquiring an additional 3,610 shares during the period. Finally, Private Capital Group LLC increased its position in shares of JetBlue Airways by 178.8% during the first quarter. Private Capital Group LLC now owns 5,780 shares of the transportation company’s stock worth $117,000 after acquiring an additional 3,707 shares during the period. 87.24% of the stock is currently owned by institutional investors.

About JetBlue Airways

JetBlue Airways Corporation, a passenger carrier company, provides air transportation services. As of December 31, 2017, the company operated a fleet of 53 Airbus A321 aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 101 destinations in 30 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.

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