JetBlue Airways (NASDAQ:JBLU) Announces Quarterly Earnings Results, Misses Estimates By $0.04 EPS

JetBlue Airways (NASDAQ:JBLU) posted its quarterly earnings data on Tuesday. The transportation company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.04), Zacks reports. JetBlue Airways had a negative return on equity of 19.87% and a negative net margin of 5.16%.The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period last year, the business posted ($0.21) earnings per share. The business’s revenue was down 1.4% on a year-over-year basis.

JetBlue Airways Stock Performance

NASDAQ:JBLU opened at $4.88 on Tuesday. JetBlue Airways has a twelve month low of $3.34 and a twelve month high of $7.83. The stock has a market cap of $1.78 billion, a P/E ratio of -3.58 and a beta of 1.78. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 3.42. The business’s 50-day moving average price is $4.79 and its two-hundred day moving average price is $4.75.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JBLU. Caitong International Asset Management Co. Ltd boosted its holdings in JetBlue Airways by 639.1% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 5,049 shares during the period. HUB Investment Partners LLC purchased a new stake in JetBlue Airways in the second quarter worth about $45,000. Rafferty Asset Management LLC purchased a new position in shares of JetBlue Airways during the second quarter valued at approximately $51,000. NewEdge Advisors LLC boosted its position in shares of JetBlue Airways by 1,113.2% in the 2nd quarter. NewEdge Advisors LLC now owns 13,078 shares of the transportation company’s stock worth $55,000 after purchasing an additional 12,000 shares in the last quarter. Finally, Cinctive Capital Management LP bought a new position in JetBlue Airways during the 3rd quarter valued at approximately $86,000. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on JBLU shares. Citigroup decreased their price target on shares of JetBlue Airways from $4.10 to $4.00 and set a “sell” rating for the company in a research note on Wednesday, January 7th. Susquehanna raised their target price on JetBlue Airways from $4.55 to $5.00 and gave the company a “neutral” rating in a report on Friday, January 9th. Morgan Stanley lowered their target price on shares of JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday, December 8th. The Goldman Sachs Group increased their target price on shares of JetBlue Airways from $3.50 to $4.00 and gave the company a “sell” rating in a research report on Tuesday, January 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of JetBlue Airways in a report on Thursday. Five analysts have rated the stock with a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Strong Sell” and an average target price of $4.93.

About JetBlue Airways

JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.

The airline’s core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.