JetBlue Airways (NASDAQ:JBLU) Announces Earnings Results, Beats Expectations By $0.05 EPS

JetBlue Airways (NASDAQ:JBLU – Get Rating) issued its quarterly earnings results on Tuesday. The transportation company reported ($0.80) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.85) by $0.05, MarketWatch Earnings reports. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.74 billion. JetBlue Airways had a negative net margin of 3.01% and a negative return on equity of 21.61%. JetBlue Airways’s quarterly revenue was up 136.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.48) EPS.

Shares of JBLU traded down $0.89 during trading hours on Tuesday, reaching $12.17. The company’s stock had a trading volume of 246,093 shares, compared to its average volume of 9,717,390. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of -20.83 and a beta of 1.39. JetBlue Airways has a 1-year low of $11.37 and a 1-year high of $20.89. The company has a quick ratio of 0.93, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The company has a 50 day moving average of $13.85 and a two-hundred day moving average of $14.35.

A number of equities analysts have recently issued reports on JBLU shares. Morgan Stanley cut their price target on shares of JetBlue Airways from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Monday, April 4th. MKM Partners raised shares of JetBlue Airways from a “neutral” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Monday, April 11th. Zacks Investment Research raised shares of JetBlue Airways from a “sell” rating to a “hold” rating and set a $17.00 target price on the stock in a research report on Friday, February 11th. StockNews.com started coverage on shares of JetBlue Airways in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Raymond James lowered shares of JetBlue Airways from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $17.95.

Institutional investors and hedge funds have recently modified their holdings of the company. Zullo Investment Group Inc. acquired a new position in shares of JetBlue Airways in the 4th quarter valued at about $27,000. Samalin Investment Counsel LLC grew its stake in shares of JetBlue Airways by 140.0% in the 4th quarter. Samalin Investment Counsel LLC now owns 2,400 shares of the transportation company’s stock valued at $34,000 after buying an additional 1,400 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of JetBlue Airways in the 4th quarter valued at approximately $80,000. Forum Financial Management LP bought a new stake in shares of JetBlue Airways in the 4th quarter valued at approximately $144,000. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of JetBlue Airways in the 4th quarter valued at approximately $164,000. Institutional investors own 76.69% of the company’s stock.

JetBlue Airways Company Profile (Get Rating)

JetBlue Airways Corporation provides air passenger transportation services. As of December 31, 2021, the company operated a fleet of 63 Airbus A321 aircraft, 8 Airbus A220 aircraft, 21 Airbus A321neo aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 107 destinations in the 31 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.

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