JetBlue Airways (NASDAQ:JBLU) Announces Quarterly Earnings Results

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

JetBlue Airways Price Performance

NASDAQ JBLU traded up $0.38 during midday trading on Friday, hitting $4.76. The company had a trading volume of 42,855,886 shares, compared to its average volume of 19,251,064. The firm has a 50-day moving average price of $4.85 and a 200-day moving average price of $6.20. The company has a market capitalization of $1.69 billion, a PE ratio of -2.03 and a beta of 1.69. The company has a current ratio of 1.10, a quick ratio of 1.18 and a debt-to-equity ratio of 3.08. JetBlue Airways has a twelve month low of $3.34 and a twelve month high of $8.31.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Seaport Res Ptn cut JetBlue Airways from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 28th. Barclays decreased 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. Raymond James raised shares of JetBlue Airways from a "market perform" rating to an "outperform" rating and set a $5.00 price objective for the company in a research report on Monday, April 7th. Bank of America dropped their price objective on shares of JetBlue Airways from $5.25 to $4.25 and set an "underperform" rating on the stock in a research report on Thursday, April 3rd. Finally, Susquehanna reduced their target price on shares of JetBlue Airways from $6.00 to $4.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $5.09.

Insider Transactions at JetBlue Airways

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

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.