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

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

JetBlue Airways Price Performance

Shares of NASDAQ:JBLU opened at $5.91 on Thursday. JetBlue Airways has a 1-year low of $3.42 and a 1-year high of $9.45. The company’s fifty day moving average is $6.91 and its two-hundred day moving average is $5.65. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.60 and a quick ratio of 0.57.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on JBLU. JPMorgan Chase & Co. reduced their price target on shares of JetBlue Airways from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Wednesday. UBS Group began coverage on shares of JetBlue Airways in a research report on Wednesday, March 20th. They set a “sell” rating and a $5.00 price target on the stock. Evercore ISI lifted their price target on shares of JetBlue Airways from $5.00 to $8.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft raised shares of JetBlue Airways from a “hold” rating to a “buy” rating and lifted their price target for the company from $4.00 to $9.00 in a research report on Tuesday, February 20th. Finally, Barclays initiated coverage on shares of JetBlue Airways in a research report on Wednesday, March 27th. They set an “underweight” rating and a $6.00 target price on the stock. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $5.78.

About JetBlue Airways

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.