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

JetBlue Airways (NASDAQ:JBLU) issued its quarterly earnings data on Tuesday. The transportation company reported ($0.43) EPS for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.10, Briefing.com reports. JetBlue Airways had a negative net margin of 8.79% and a negative return on equity of 5.38%. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter last year, the company earned ($0.34) EPS. The business’s revenue was down 5.5% on a year-over-year basis. JetBlue Airways updated its Q2 2024 guidance to EPS.

JetBlue Airways Stock Down 3.7 %

Shares of NASDAQ:JBLU opened at $5.69 on Thursday. The business has a 50-day moving average price of $6.91 and a 200 day moving average price of $5.65. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.60 and a quick ratio of 0.57. JetBlue Airways has a 12-month low of $3.42 and a 12-month high of $9.45.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. UBS Group assumed coverage on JetBlue Airways in a research report on Wednesday, March 20th. They set a “sell” rating and a $5.00 target price on the stock. Bank of America lowered JetBlue Airways from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $6.00 to $3.00 in a report on Tuesday, January 9th. Susquehanna raised their price objective on JetBlue Airways from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Tuesday, April 9th. TD Cowen decreased their price objective on JetBlue Airways from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. decreased their price objective on JetBlue Airways from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $5.78.

JetBlue Airways Company Profile

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.