JetBlue Airways (NASDAQ:JBLU) Announces Quarterly Earnings Results

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

JetBlue Airways Stock Up 1.0 %

JetBlue Airways stock opened at $6.16 on Wednesday. JetBlue Airways has a fifty-two week low of $3.42 and a fifty-two week high of $9.45. The firm’s 50-day simple moving average is $6.94 and its 200 day simple moving average is $5.65. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.57 and a current ratio of 0.60.

Analysts Set New Price Targets

Several equities research analysts have weighed in on JBLU shares. JPMorgan Chase & Co. raised shares of JetBlue Airways from an “underweight” rating to a “neutral” rating and set a $7.00 price target for the company in a research note on Thursday, April 18th. Susquehanna lifted their price objective on shares of JetBlue Airways from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Tuesday, April 9th. TD Cowen reduced their price objective on shares of JetBlue Airways from $7.00 to $6.00 and set a “hold” rating for the company in a report on Tuesday. Evercore ISI lifted their price objective on shares of JetBlue Airways from $5.00 to $8.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of JetBlue Airways from a “hold” rating to a “buy” rating and lifted their price objective for the company from $4.00 to $9.00 in a report on Tuesday, February 20th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus 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.