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

JetBlue Airways (NASDAQ:JBLU) released its earnings results on Tuesday. The transportation company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.10, Briefing.com reports. JetBlue Airways had a negative return on equity of 10.29% and a negative net margin of 10.18%. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the company earned ($0.39) earnings per share. The business’s revenue for the quarter was up .5% compared to the same quarter last year. JetBlue Airways updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

JetBlue Airways Stock Up 1.2 %

Shares of JBLU stock traded up $0.07 during trading hours on Thursday, reaching $5.70. 18,639,095 shares of the company’s stock were exchanged, compared to its average volume of 15,589,886. JetBlue Airways has a 1 year low of $3.42 and a 1 year high of $8.07. The stock has a market cap of $1.98 billion, a PE ratio of -2.26 and a beta of 1.92. The company has a current ratio of 0.54, a quick ratio of 0.50 and a debt-to-equity ratio of 1.86. The stock’s fifty day moving average price is $6.16 and its two-hundred day moving average price is $5.92.

Analyst Ratings Changes

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