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

JetBlue Airways (NASDAQ:JBLU) announced 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. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.20 billion. JetBlue Airways had a negative net margin of 3.23% and a negative return on equity of 4.41%. JetBlue Airways’s revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.34) EPS. JetBlue Airways updated its Q2 2024 guidance to EPS.

JetBlue Airways Price Performance

Shares of JetBlue Airways stock traded down $0.14 on Wednesday, hitting $5.96. 5,817,824 shares of the company traded hands, compared to its average volume of 16,683,721. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 1.32. JetBlue Airways has a 12-month low of $3.42 and a 12-month high of $9.45. The firm’s 50-day simple moving average is $6.94 and its 200 day simple moving average is $5.65. The company has a market cap of $2.03 billion, a P/E ratio of -6.51 and a beta of 1.86.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on JBLU. TD Cowen dropped their price target on shares of JetBlue Airways from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Tuesday. Evercore ISI increased their target price on shares of JetBlue Airways from $5.00 to $8.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Bank of America cut shares of JetBlue Airways from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $6.00 to $3.00 in a research note on Tuesday, January 9th. UBS Group began coverage on shares of JetBlue Airways in a research note on Wednesday, March 20th. They issued a “sell” rating and a $5.00 target price on the stock. Finally, Barclays began coverage on shares of JetBlue Airways in a research note on Wednesday, March 27th. They issued an “underweight” rating and a $6.00 target price on the stock. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, JetBlue Airways has an average 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.