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

JetBlue Airways (NASDAQ:JBLU) released its earnings results on Tuesday. The transportation company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.10, Briefing.com reports. JetBlue Airways had a negative return on equity of 4.41% and a negative net margin of 3.23%. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the previous year, the company earned ($0.34) earnings per share. JetBlue Airways’s revenue was down 5.5% compared to the same quarter last year. JetBlue Airways updated its Q2 2024 guidance to EPS.

JetBlue Airways Price Performance

NASDAQ:JBLU traded down $0.11 during trading hours on Wednesday, reaching $5.99. The company had a trading volume of 7,384,108 shares, compared to its average volume of 16,701,443. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $2.04 billion, a PE ratio of -6.51 and a beta of 1.86. The stock has a 50-day moving average of $6.94 and a two-hundred day moving average of $5.65. JetBlue Airways has a one year low of $3.42 and a one year high of $9.45.

Analyst Upgrades and Downgrades

A number of brokerages have commented on JBLU. UBS Group began coverage on JetBlue Airways in a research report on Wednesday, March 20th. They set a “sell” rating and a $5.00 price objective for the company. TD Cowen reduced their price target on JetBlue Airways from $7.00 to $6.00 and set a “hold” rating for the company in a report on Tuesday. Barclays initiated coverage on JetBlue Airways in a report on Wednesday, March 27th. They set an “underweight” rating and a $6.00 price target for the company. Susquehanna boosted 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. Finally, JPMorgan Chase & Co. upgraded JetBlue Airways from an “underweight” rating to a “neutral” rating and set a $7.00 target price for the company in a report on Thursday, April 18th. Five research 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, the company presently has a consensus rating of “Hold” and an average price target of $5.88.

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.