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

JetBlue Airways (NASDAQ:JBLU) released its quarterly earnings results 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 analyst estimates of $2.20 billion. During the same period last year, the firm earned ($0.34) earnings per share. JetBlue Airways’s revenue for the quarter was down 5.5% compared to the same quarter last year. JetBlue Airways updated its Q2 2024 guidance to EPS.

JetBlue Airways Price Performance

JBLU opened at $5.91 on Thursday. The company’s 50 day moving average is $6.91 and its 200-day moving average is $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 quick ratio of 0.57 and a current ratio of 0.60.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. TD Cowen reduced their price objective on shares of JetBlue Airways from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Tuesday. Barclays assumed coverage on shares of JetBlue Airways in a research note on Wednesday, March 27th. They set an “underweight” rating and a $6.00 price objective on the stock. UBS Group assumed coverage on shares of JetBlue Airways in a research note on Wednesday, March 20th. They set a “sell” rating and a $5.00 price objective on the stock. Evercore ISI increased their price objective on shares of JetBlue Airways from $5.00 to $8.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Finally, Bank of America downgraded shares of JetBlue Airways from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $6.00 to $3.00 in a research note on Tuesday, January 9th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $5.78.

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.