JetBlue Airways (NASDAQ:JBLU) Issues Quarterly 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 the consensus estimate of ($0.53) by $0.10, Briefing.com reports. The business 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 4.41% and a negative net margin of 3.23%. The firm’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 Performance

JetBlue Airways stock traded down $0.14 during midday trading on Wednesday, reaching $5.96. 5,817,824 shares of the company’s stock were exchanged, compared to its average volume of 16,683,721. JetBlue Airways has a 52 week low of $3.42 and a 52 week high of $9.45. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.57 and a current ratio of 0.60. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of -6.51 and a beta of 1.86. The stock’s 50-day simple moving average is $6.94 and its 200 day simple moving average is $5.65.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. UBS Group assumed coverage on JetBlue Airways in a report on Wednesday, March 20th. They set a “sell” rating and a $5.00 target price for the company. Evercore ISI increased their target price on JetBlue Airways from $5.00 to $8.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Susquehanna increased their target price on JetBlue Airways from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Tuesday, April 9th. Bank of America cut 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 report on Tuesday, January 9th. Finally, TD Cowen lowered their target price on JetBlue Airways from $7.00 to $6.00 and set a “hold” rating for the company in a report on Tuesday. Five analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, JetBlue Airways currently has a consensus 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.