JetBlue Airways (NASDAQ:JBLU) Announces Earnings Results, Beats Estimates By $0.10 EPS

JetBlue Airways (NASDAQ:JBLU) released its earnings results on Tuesday. The transportation company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.10, Briefing.com reports. JetBlue Airways had a negative net margin of 10.18% and a negative return on equity of 10.29%. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the previous year, the firm earned ($0.39) EPS. The business’s revenue for the quarter was up .5% on a year-over-year basis. JetBlue Airways updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

JetBlue Airways Stock Down 5.8 %

Shares of NASDAQ:JBLU traded down $0.35 during trading on Wednesday, hitting $5.72. 20,562,278 shares of the company’s stock traded hands, compared to its average volume of 15,514,403. JetBlue Airways has a 52 week low of $3.42 and a 52 week high of $8.07. The company has a current ratio of 0.54, a quick ratio of 0.50 and a debt-to-equity ratio of 1.86. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -2.35 and a beta of 1.92. The company has a 50-day moving average price of $6.15 and a 200-day moving average price of $5.92.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. TD Cowen boosted their target price on shares of JetBlue Airways from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Friday, September 6th. Bank of America upgraded JetBlue Airways from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $3.00 to $6.00 in a research note on Monday, September 9th. Susquehanna increased their target price on shares of JetBlue Airways from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. StockNews.com upgraded JetBlue Airways to a “sell” rating in a report on Friday, October 11th. Finally, Citigroup increased their price target on shares of JetBlue Airways from $6.00 to $7.75 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, JetBlue Airways has an average rating of “Hold” and a consensus price target of $5.98.

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.