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

JetBlue Airways (NASDAQ:JBLU) posted its earnings results on Tuesday. The transportation company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.53) by $0.10, Briefing.com reports. JetBlue Airways had a negative return on equity of 5.38% and a negative net margin of 8.79%. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the prior year, the business earned ($0.34) earnings per share. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. JetBlue Airways updated its Q2 2024 guidance to EPS.

JetBlue Airways Trading Down 3.1 %

Shares of JBLU stock opened at $5.91 on Thursday. JetBlue Airways has a fifty-two week low of $3.42 and a fifty-two week high of $9.45. 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 stock’s fifty day moving average price is $6.91 and its two-hundred day moving average price is $5.65.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. TD Cowen reduced their price target on JetBlue Airways from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Tuesday. UBS Group assumed coverage on JetBlue Airways in a research report on Wednesday, March 20th. They set a “sell” rating and a $5.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised JetBlue Airways from a “hold” rating to a “buy” rating and increased their price target for the stock from $4.00 to $9.00 in a research report on Tuesday, February 20th. Barclays assumed coverage on JetBlue Airways in a research report on Wednesday, March 27th. They set an “underweight” rating and a $6.00 price target on the stock. Finally, Bank of America downgraded JetBlue Airways from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $6.00 to $3.00 in a research report on Tuesday, January 9th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, JetBlue Airways currently has an average rating of “Hold” and an average target price of $5.78.

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.