JetBlue Airways (NASDAQ:JBLU) Issues FY 2023 Earnings Guidance

JetBlue Airways (NASDAQ:JBLU – Get Rating) issued an update on its FY 2023 earnings guidance on Friday morning. The company provided EPS guidance of $0.70-$1.00 for the period, compared to the consensus EPS estimate of $0.44. The company issued revenue guidance of -. JetBlue Airways also updated its Q1 2023 guidance to -$0.45–$0.35 EPS.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Cowen lowered JetBlue Airways from an outperform rating to a market perform rating and lowered their price target for the company from $10.00 to $9.00 in a research note on Thursday, December 15th. Citigroup assumed coverage on JetBlue Airways in a research note on Monday, December 5th. They set a neutral rating and a $9.00 price target on the stock. StockNews.com assumed coverage on JetBlue Airways in a research note on Friday. They set a hold rating on the stock. Cowen lowered JetBlue Airways from an outperform rating to a market perform rating and set a $9.00 price target on the stock. in a research note on Thursday, December 15th. Finally, Wolfe Research boosted their price target on JetBlue Airways from $6.00 to $7.00 in a research note on Friday, January 27th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $10.46.

JetBlue Airways Stock Down 2.5 %

JBLU stock opened at $6.92 on Friday. JetBlue Airways has a 1-year low of $6.18 and a 1-year high of $15.26. The business’s 50 day moving average is $8.19 and its 200-day moving average is $7.64. The company has a current ratio of 0.51, a quick ratio of 0.49 and a debt-to-equity ratio of 0.87.

JetBlue Airways (NASDAQ:JBLU – Get Rating) last announced its earnings results on Thursday, January 26th. The transportation company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.19 by $0.03. The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.40 billion. JetBlue Airways had a negative return on equity of 7.60% and a negative net margin of 3.95%. JetBlue Airways’s revenue was up 30.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.36) EPS. On average, sell-side analysts expect that JetBlue Airways will post 0.84 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Neo Ivy Capital Management acquired a new position in shares of JetBlue Airways in the 2nd quarter worth approximately $33,000. Compass Wealth Management LLC acquired a new position in shares of JetBlue Airways in the 4th quarter worth approximately $35,000. Alpine Global Management LLC acquired a new position in shares of JetBlue Airways in the 4th quarter worth approximately $82,000. Bridgefront Capital LLC acquired a new position in shares of JetBlue Airways in the 4th quarter worth approximately $85,000. Finally, Captrust Financial Advisors lifted its holdings in JetBlue Airways by 34.3% during the 3rd quarter. Captrust Financial Advisors now owns 15,360 shares of the transportation company’s stock worth $102,000 after buying an additional 3,920 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

About JetBlue Airways

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JetBlue Airways Corp. provides air transportation services. It carries more than 30 million customers a year to 86 cities in the U.S., Caribbean, and Latin America with an average of 850 daily flights. The firm offers flights and tickets to more than 82 destinations, with accommodations such as free TV, free snacks, and the most legroom.