JetBlue Airways Co. (JBLU) Expected to Announce Quarterly Sales of $1.87 Billion

Wall Street analysts expect JetBlue Airways Co. (NASDAQ:JBLU) to announce sales of $1.87 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for JetBlue Airways’ earnings. The lowest sales estimate is $1.84 billion and the highest is $1.87 billion. JetBlue Airways posted sales of $1.75 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 6.9%. The business is scheduled to report its next earnings report before the market opens on Tuesday, April 23rd.

According to Zacks, analysts expect that JetBlue Airways will report full year sales of $8.17 billion for the current financial year, with estimates ranging from $8.11 billion to $8.24 billion. For the next year, analysts forecast that the company will report sales of $8.91 billion, with estimates ranging from $8.68 billion to $9.12 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for JetBlue Airways.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings data on Thursday, January 24th. The transportation company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.07. JetBlue Airways had a return on equity of 10.92% and a net margin of 2.44%. The company had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter in the prior year, the business posted $2.08 EPS. The business’s revenue was up 11.9% compared to the same quarter last year.

A number of brokerages have recently issued reports on JBLU. Cowen reiterated a “market perform” rating and set a $19.00 price objective on shares of JetBlue Airways in a research note on Thursday, April 11th. Zacks Investment Research cut JetBlue Airways from a “hold” rating to a “sell” rating in a research note on Tuesday. BidaskClub cut JetBlue Airways from a “hold” rating to a “sell” rating in a research note on Friday, February 22nd. Barclays cut JetBlue Airways from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $27.00 to $20.00 in a research note on Monday, March 11th. Finally, Vertical Research began coverage on JetBlue Airways in a research note on Monday, February 4th. They set a “hold” rating and a $19.00 price objective on the stock. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $19.68.

In related news, CEO Robin Hayes sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $18.18, for a total transaction of $45,450.00. Following the transaction, the chief executive officer now directly owns 429,156 shares of the company’s stock, valued at approximately $7,802,056.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 7,500 shares of company stock worth $127,275 over the last three months. 0.63% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of JBLU. JPMorgan Chase & Co. increased its holdings in shares of JetBlue Airways by 30.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 639,349 shares of the transportation company’s stock worth $12,377,000 after acquiring an additional 149,968 shares during the last quarter. Janus Henderson Group PLC grew its holdings in JetBlue Airways by 36.6% in the 3rd quarter. Janus Henderson Group PLC now owns 21,483 shares of the transportation company’s stock valued at $416,000 after buying an additional 5,755 shares in the last quarter. GSA Capital Partners LLP acquired a new position in JetBlue Airways in the 3rd quarter valued at $402,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in JetBlue Airways in the 3rd quarter valued at $272,000. Finally, Paloma Partners Management Co grew its holdings in JetBlue Airways by 30.6% in the 3rd quarter. Paloma Partners Management Co now owns 44,567 shares of the transportation company’s stock valued at $863,000 after buying an additional 10,447 shares in the last quarter. 91.49% of the stock is currently owned by institutional investors and hedge funds.

Shares of JetBlue Airways stock opened at $16.88 on Wednesday. JetBlue Airways has a 12-month low of $15.19 and a 12-month high of $20.25. The company has a market cap of $5.08 billion, a PE ratio of 10.89, a P/E/G ratio of 5.72 and a beta of 0.90. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 0.30.

About JetBlue Airways

JetBlue Airways Corporation, a passenger carrier company, provides air transportation services. As of December 31, 2018, the company operated a fleet of 63 Airbus A321 aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 105 destinations in the 31 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.

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