JetBlue Airways (NASDAQ:JBLU) Updates FY 2023 Earnings Guidance

JetBlue Airways (NASDAQ:JBLU – Get Rating) updated its FY 2023 earnings guidance on Friday. The company provided earnings per share guidance of $0.70-$1.00 for the period, compared to the consensus earnings per share estimate of $0.44. The company issued revenue guidance of -. JetBlue Airways also updated its Q1 2023 guidance to -$0.45–$0.35 EPS.

Analyst Upgrades and Downgrades

Several research firms have issued reports on JBLU. Citigroup began coverage on shares of JetBlue Airways in a research report on Monday, December 5th. They issued a neutral rating and a $9.00 price objective for the company. StockNews.com began coverage on shares of JetBlue Airways in a research report on Friday. They issued a hold rating for the company. Cowen cut shares of JetBlue Airways from an outperform rating to a market perform rating and lowered their price objective for the company from $10.00 to $9.00 in a research report on Thursday, December 15th. Cowen cut shares of JetBlue Airways from an outperform rating to a market perform rating and set a $9.00 price objective for the company. in a research report on Thursday, December 15th. Finally, Wolfe Research upped their price target on shares of JetBlue Airways from $6.00 to $7.00 in a research report on Friday, January 27th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $10.46.

JetBlue Airways Trading Down 2.5 %

Shares of JetBlue Airways stock opened at $6.92 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.49 and a debt-to-equity ratio of 0.87. JetBlue Airways has a 12-month low of $6.18 and a 12-month high of $15.26. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of -6.18 and a beta of 1.60. The firm’s 50 day simple moving average is $8.19 and its two-hundred day simple moving average is $7.65.

JetBlue Airways (NASDAQ:JBLU – Get Rating) last issued its quarterly earnings results on Thursday, January 26th. The transportation company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. JetBlue Airways had a negative net margin of 3.95% and a negative return on equity of 7.60%. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the prior year, the business posted ($0.36) EPS. JetBlue Airways’s revenue for the quarter was up 30.9% compared to the same quarter last year. Analysts predict that JetBlue Airways will post 0.84 EPS for the current year.

Institutional Trading of JetBlue Airways

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky grew its position in JetBlue Airways by 24.1% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 52,056 shares of the transportation company’s stock valued at $338,000 after buying an additional 10,100 shares during the period. Compass Wealth Management LLC purchased a new position in JetBlue Airways during the fourth quarter valued at $35,000. Alliancebernstein L.P. lifted its holdings in JetBlue Airways by 1.5% during the fourth quarter. Alliancebernstein L.P. now owns 430,595 shares of the transportation company’s stock valued at $2,790,000 after purchasing an additional 6,170 shares in the last quarter. Point72 Middle East FZE purchased a new position in JetBlue Airways during the fourth quarter valued at $647,000. Finally, CI Private Wealth LLC purchased a new position in JetBlue Airways during the fourth quarter valued at $451,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

JetBlue Airways Company Profile

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JetBlue Airways Corp. provides air transportation services. It carries more than 30 million customers a year to 86 cities in the U.S., Caribbean, and Latin America with an average of 850 daily flights. The firm offers flights and tickets to more than 82 destinations, with accommodations such as free TV, free snacks, and the most legroom.