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

JetBlue Airways (NASDAQ:JBLU - Get Free Report) released its quarterly earnings results on Tuesday. The transportation company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.10, Briefing.com reports. JetBlue Airways had a negative return on equity of 4.41% and a negative net margin of 3.23%. The firm had revenue of $2.20 billion for the quarter, compared to analysts' expectations of $2.20 billion. During the same quarter last year, the firm posted ($0.34) EPS. The company's revenue was down 5.5% compared to the same quarter last year. JetBlue Airways updated its Q2 2024 guidance to EPS.

JetBlue Airways Stock Down 3.1 %

Shares of JBLU traded down $0.19 on Wednesday, reaching $5.91. The stock had a trading volume of 21,486,484 shares, compared to its average volume of 16,893,547. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of -6.29 and a beta of 1.86. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.57 and a current ratio of 0.60. The company has a 50-day simple moving average of $6.91 and a 200-day simple moving average of $5.65. JetBlue Airways has a 12-month low of $3.42 and a 12-month high of $9.45.

Analyst Upgrades and Downgrades

JBLU has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised JetBlue Airways from a "hold" rating to a "buy" rating and raised their price target for the company from $4.00 to $9.00 in a report on Tuesday, February 20th. JPMorgan Chase & Co. lowered their price target on JetBlue Airways from $7.00 to $6.00 and set a "neutral" rating on the stock in a report on Wednesday. TD Cowen lowered their price target on JetBlue Airways from $7.00 to $6.00 and set a "hold" rating on the stock in a report on Tuesday. Susquehanna raised their price target on JetBlue Airways from $5.00 to $6.00 and gave the company a "neutral" rating in a report on Tuesday, April 9th. Finally, Evercore ISI raised their price target on JetBlue Airways from $5.00 to $8.00 and gave the company an "in-line" rating in a report on Thursday, April 4th. Five analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, JetBlue Airways has an average rating of "Hold" and a consensus price target of $5.78.

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.