JetBlue Airways (NASDAQ:JBLU) Releases Earnings Results, Beats Expectations By $0.10 EPS

JetBlue Airways (NASDAQ:JBLU) issued its quarterly earnings results on Tuesday. The transportation company reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.10, Briefing.com reports. JetBlue Airways had a negative return on equity of 4.41% and a negative net margin of 3.23%. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the business posted ($0.34) earnings per share. JetBlue Airways’s revenue was down 5.5% on a year-over-year basis. JetBlue Airways updated its Q2 2024 guidance to EPS.

JetBlue Airways Trading Down 1.8 %

Shares of JBLU traded down $0.11 during trading hours on Wednesday, hitting $5.99. The company had a trading volume of 7,384,108 shares, compared to its average volume of 16,701,443. The firm has a market cap of $2.04 billion, a P/E ratio of -6.51 and a beta of 1.86. The stock’s 50 day moving average price is $6.94 and its 200 day moving average price is $5.65. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.32. JetBlue Airways has a 52-week low of $3.42 and a 52-week high of $9.45.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on JBLU shares. JPMorgan Chase & Co. raised JetBlue Airways from an “underweight” rating to a “neutral” rating and set a $7.00 price objective for the company in a report on Thursday, April 18th. UBS Group started coverage on JetBlue Airways in a research note on Wednesday, March 20th. They set a “sell” rating and a $5.00 price objective for the company. Bank of America lowered JetBlue Airways from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $6.00 to $3.00 in a research note on Tuesday, January 9th. Evercore ISI lifted their price objective on JetBlue Airways from $5.00 to $8.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Finally, Deutsche Bank Aktiengesellschaft raised JetBlue Airways from a “hold” rating to a “buy” rating and lifted their price objective for the company from $4.00 to $9.00 in a research note on Tuesday, February 20th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.88.

About JetBlue Airways

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A321, Airbus A220, Airbus A321neo, Airbus A320 Restyled, Airbus A320, Airbus A321 with Mint, Airbus A321neo with Mint, Airbus A321neoLR with Mint, and Embraer E190 aircraft. It also serves 100 destinations across the United States, the Caribbean and Latin America, Canada, and Europe.