JetBlue Airways (NASDAQ:JBLU) Releases Earnings Results

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

JetBlue Airways Stock Down 3.1 %

JBLU stock opened at $5.91 on Thursday. The stock has a 50-day moving average price of $6.91 and a 200-day moving average price of $5.65. JetBlue Airways has a 1-year low of $3.42 and a 1-year high of $9.45. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.60 and a quick ratio of 0.57.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on JBLU shares. UBS Group started coverage on JetBlue Airways in a report on Wednesday, March 20th. They issued a “sell” rating and a $5.00 target price on the stock. TD Cowen cut 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. JPMorgan Chase & Co. cut 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. Bank of America downgraded JetBlue Airways from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $6.00 to $3.00 in a report on Tuesday, January 9th. Finally, 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. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.