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

JetBlue Airways (NASDAQ:JBLU) posted its quarterly earnings results on Tuesday. The transportation company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.10, Briefing.com reports. JetBlue Airways had a negative net margin of 9.17% and a negative return on equity of 8.35%. The company had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the previous year, the firm posted ($0.39) EPS. JetBlue Airways’s revenue was up .5% on a year-over-year basis. JetBlue Airways updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

JetBlue Airways Stock Performance

Shares of JetBlue Airways stock traded up $0.14 during trading on Friday, hitting $5.84. 6,577,503 shares of the company’s stock traded hands, compared to its average volume of 15,547,551. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.21 and a quick ratio of 0.50. The business has a 50-day simple moving average of $6.18 and a 200-day simple moving average of $5.92. JetBlue Airways has a 1 year low of $3.76 and a 1 year high of $8.07. The stock has a market capitalization of $2.03 billion, a P/E ratio of -2.29 and a beta of 1.92.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. StockNews.com upgraded JetBlue Airways to a “sell” rating in a research report on Friday, October 11th. Citigroup boosted their price target on shares of JetBlue Airways from $6.00 to $7.75 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Susquehanna lifted their price objective on JetBlue Airways from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Bank of America raised JetBlue Airways from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $3.00 to $6.00 in a report on Monday, September 9th. Finally, TD Cowen lifted their target price on shares of JetBlue Airways from $5.00 to $6.00 and gave the company a “hold” rating in a research report on Friday, September 6th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $5.98.

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.