JetBlue Airways (NASDAQ:JBLU) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

JetBlue Airways (NASDAQ:JBLU - Get Free Report) announced its earnings results on Tuesday. The transportation company reported ($0.59) earnings per share for the quarter, topping analysts' consensus estimates of ($0.61) by $0.02, Zacks reports. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. JetBlue Airways had a negative net margin of 8.57% and a negative return on equity of 9.31%. The company's revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.43) earnings per share.

JetBlue Airways Price Performance

NASDAQ:JBLU traded down $0.13 during trading hours on Tuesday, reaching $3.95. The stock had a trading volume of 10,435,228 shares, compared to its average volume of 25,261,215. The stock has a market capitalization of $1.40 billion, a PE ratio of -1.68 and a beta of 1.69. The company has a debt-to-equity ratio of 3.08, a quick ratio of 1.18 and a current ratio of 1.10. The company has a 50 day moving average price of $5.05 and a two-hundred day moving average price of $6.27. JetBlue Airways has a 52 week low of $3.34 and a 52 week high of $8.31.

Insider Activity

In related news, Director Nik Mittal acquired 100,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The stock was purchased at an average cost of $6.14 per share, for a total transaction of $614,000.00. Following the purchase, the director now directly owns 116,443 shares of the company's stock, valued at $714,960.02. This trade represents a 608.16 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Ursula L. Hurley sold 15,000 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $7.50, for a total value of $112,500.00. Following the transaction, the chief financial officer now directly owns 41,833 shares in the company, valued at $313,747.50. This represents a 26.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.18% of the company's stock.

Analyst Ratings Changes

JBLU has been the topic of several recent analyst reports. Barclays reduced their target price on JetBlue Airways from $7.00 to $4.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. Seaport Res Ptn cut JetBlue Airways from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 28th. Bank of America cut their price objective on JetBlue Airways from $5.25 to $4.25 and set an "underperform" rating on the stock in a research note on Thursday, April 3rd. Raymond James raised JetBlue Airways from a "market perform" rating to an "outperform" rating and set a $5.00 price target on the stock in a research note on Monday, April 7th. Finally, Susquehanna decreased their price target on JetBlue Airways from $6.00 to $4.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $5.09.

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.