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

JetBlue Airways (NASDAQ:JBLU) released its quarterly earnings results on Tuesday. The transportation company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.10, Briefing.com reports. The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.36 billion. JetBlue Airways had a negative return on equity of 8.35% and a negative net margin of 9.17%. The company’s revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.39) EPS. JetBlue Airways updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

JetBlue Airways Stock Up 2.5 %

JBLU traded up $0.14 on Friday, reaching $5.84. 6,577,503 shares of the company traded hands, compared to its average volume of 15,547,551. The company has a market cap of $2.03 billion, a price-to-earnings ratio of -2.29 and a beta of 1.92. JetBlue Airways has a 52-week low of $3.76 and a 52-week high of $8.07. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.21 and a quick ratio of 0.50. The stock’s 50 day moving average price is $6.18 and its 200-day moving average price is $5.92.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Bank of America upgraded shares of JetBlue Airways from an “underperform” rating to a “neutral” rating and raised their target price for the company from $3.00 to $6.00 in a report on Monday, September 9th. Susquehanna lifted their price objective on JetBlue Airways from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Citigroup increased their target price on JetBlue Airways from $6.00 to $7.75 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. StockNews.com upgraded JetBlue Airways to a “sell” rating in a research report on Friday, October 11th. Finally, Evercore ISI lifted their price objective on JetBlue Airways from $4.00 to $5.00 and gave the stock an “in-line” rating in a research report on Thursday, October 3rd. Four analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $5.98.

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.