Zacks: Brokerages Anticipate JetBlue Airways Co. (JBLU) Will Announce Quarterly Sales of $1.72 Billion

Analysts expect JetBlue Airways Co. (NASDAQ:JBLU) to report sales of $1.72 billion for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for JetBlue Airways’ earnings, with estimates ranging from $1.70 billion to $1.74 billion. JetBlue Airways reported sales of $1.64 billion in the same quarter last year, which indicates a positive year over year growth rate of 4.9%. The company is expected to report its next earnings report on Thursday, January 25th.

According to Zacks, analysts expect that JetBlue Airways will report full-year sales of $1.72 billion for the current year, with estimates ranging from $6.96 billion to $7.00 billion. For the next financial year, analysts expect that the firm will report sales of $7.64 billion per share, with estimates ranging from $7.54 billion to $7.73 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow JetBlue Airways.

JetBlue Airways (NASDAQ:JBLU) last released its quarterly earnings results on Tuesday, October 24th. The transportation company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.03. JetBlue Airways had a net margin of 9.38% and a return on equity of 15.95%. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same period in the previous year, the company earned $0.58 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year.

Several research analysts recently weighed in on JBLU shares. Standpoint Research started coverage on shares of JetBlue Airways in a report on Friday, September 1st. They set an “accumulate” rating and a $26.00 price target on the stock. ValuEngine cut shares of JetBlue Airways from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research upgraded shares of JetBlue Airways from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 15th. Stephens started coverage on shares of JetBlue Airways in a report on Wednesday, November 29th. They set an “equal weight” rating and a $22.00 price target on the stock. Finally, Deutsche Bank lifted their price objective on shares of JetBlue Airways from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $24.56.

JetBlue Airways (NASDAQ:JBLU) traded up $0.01 during trading on Tuesday, reaching $22.44. 2,912,600 shares of the company traded hands, compared to its average volume of 5,802,614. JetBlue Airways has a 1-year low of $18.05 and a 1-year high of $24.13. The stock has a market capitalization of $7,195.32, a PE ratio of 11.57 and a beta of 0.68. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.25.

JetBlue Airways announced that its Board of Directors has approved a stock repurchase program on Wednesday, December 13th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the transportation company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

In other news, Director Joel Clinton Peterson sold 5,120 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $18.45, for a total value of $94,464.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robin Hayes sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $18.56, for a total transaction of $37,120.00. Following the completion of the sale, the chief executive officer now directly owns 402,362 shares in the company, valued at approximately $7,467,838.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,785 shares of company stock worth $448,492. Insiders own 0.60% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of JBLU. Public Employees Retirement Association of Colorado raised its position in shares of JetBlue Airways by 2.8% in the second quarter. Public Employees Retirement Association of Colorado now owns 10,497 shares of the transportation company’s stock valued at $240,000 after purchasing an additional 283 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in JetBlue Airways by 3.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,082,817 shares of the transportation company’s stock worth $24,721,000 after acquiring an additional 39,251 shares during the period. Advisors Asset Management Inc. increased its holdings in JetBlue Airways by 162.8% during the 2nd quarter. Advisors Asset Management Inc. now owns 26,999 shares of the transportation company’s stock worth $616,000 after acquiring an additional 16,724 shares during the period. State of Wisconsin Investment Board increased its holdings in JetBlue Airways by 3.4% during the 2nd quarter. State of Wisconsin Investment Board now owns 66,527 shares of the transportation company’s stock worth $1,519,000 after acquiring an additional 2,170 shares during the period. Finally, Legal & General Group Plc increased its holdings in JetBlue Airways by 25.1% during the 2nd quarter. Legal & General Group Plc now owns 239,665 shares of the transportation company’s stock worth $5,472,000 after acquiring an additional 48,049 shares during the period. 89.81% of the stock is currently owned by institutional investors.

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JetBlue Airways Company Profile

JetBlue Airways Corporation is a passenger carrier company. The Company provides air transportation services across the United States, the Caribbean and Latin America. Its segments include Domestic, and Caribbean & Latin America. It operates various kinds of aircrafts, including Airbus A321, Airbus A320 and Embraer E190.

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Earnings History and Estimates for JetBlue Airways (NASDAQ:JBLU)

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