JetBlue Airways (NASDAQ:JBLU) Releases Quarterly Earnings Results, Beats Estimates By $0.15 EPS

Key Points

• JetBlue Airways reported quarterly earnings of ($0.16) per share, beating the consensus estimate of ($0.37) by $0.21.
• The company's stock has a market cap of $1.54 billion and has recently experienced fluctuating ratings from analysts, with several firms downgrading their ratings.
• Institutional investors hold 83.71% of JetBlue's shares, indicating strong institutional interest despite its recent challenges.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) posted its quarterly earnings results on Tuesday. The transportation company reported ($0.16) earnings per share for the quarter, topping analysts' consensus estimates of ($0.31) by $0.15, Zacks reports. The business had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.26 billion. JetBlue Airways had a negative net margin of 4.22% and a negative return on equity of 15.59%.

JetBlue Airways Stock Performance

NASDAQ JBLU traded down $0.17 on Friday, hitting $4.27. 20,427,437 shares of the stock were exchanged, compared to its average volume of 24,752,266. The company has a debt-to-equity ratio of 3.21, a current ratio of 0.88 and a quick ratio of 0.97. The business's fifty day moving average is $4.57 and its 200 day moving average is $5.21. JetBlue Airways has a 52 week low of $3.34 and a 52 week high of $8.31. The company has a market capitalization of $1.55 billion, a PE ratio of -3.88 and a beta of 1.76.

Analysts Set New Price Targets

A number of brokerages recently issued reports on JBLU. Bank of America decreased their price objective on shares of JetBlue Airways from $5.25 to $4.25 and set an "underperform" rating for the company in a report on Thursday, April 3rd. Barclays restated an "underweight" rating on shares of JetBlue Airways in a report on Tuesday. Raymond James Financial cut shares of JetBlue Airways from an "outperform" rating to a "market perform" rating in a report on Thursday, May 15th. Wall Street Zen upgraded shares of JetBlue Airways to a "sell" rating in a report on Thursday, May 15th. Finally, UBS Group set a $3.00 price objective on shares of JetBlue Airways and gave the company a "sell" rating in a report on Monday, July 7th. Five investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company's stock. Based on data from MarketBeat, JetBlue Airways presently has a consensus rating of "Hold" and a consensus target price of $5.16.

Institutional Trading of JetBlue Airways

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its position in JetBlue Airways by 6.1% during the first quarter. Goldman Sachs Group Inc. now owns 4,789,448 shares of the transportation company's stock worth $23,085,000 after acquiring an additional 274,892 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in JetBlue Airways by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 185,801 shares of the transportation company's stock worth $896,000 after acquiring an additional 8,053 shares in the last quarter. AQR Capital Management LLC raised its position in JetBlue Airways by 131.2% during the first quarter. AQR Capital Management LLC now owns 90,534 shares of the transportation company's stock worth $436,000 after acquiring an additional 51,377 shares in the last quarter. Finally, United Services Automobile Association bought a new position in shares of JetBlue Airways in the first quarter valued at about $106,000. 83.71% of the stock is owned by institutional investors.

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.