JetBlue Airways Co. (NASDAQ:JBLU) to Post Q2 2024 Earnings of $0.04 Per Share, Seaport Res Ptn Forecasts

JetBlue Airways Co. (NASDAQ:JBLU) – Equities researchers at Seaport Res Ptn decreased their Q2 2024 earnings estimates for JetBlue Airways in a report released on Monday, April 8th. Seaport Res Ptn analyst D. Mckenzie now expects that the transportation company will post earnings per share of $0.04 for the quarter, down from their previous forecast of $0.05. The consensus estimate for JetBlue Airways’ current full-year earnings is ($0.69) per share.

Other equities analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft upgraded JetBlue Airways from a “hold” rating to a “buy” rating and raised their price objective for the stock from $4.00 to $9.00 in a research note on Tuesday, February 20th. UBS Group began coverage on shares of JetBlue Airways in a research report on Wednesday, March 20th. They issued a “sell” rating and a $5.00 price target on the stock. Barclays began coverage on JetBlue Airways in a report on Wednesday, March 27th. They set an “underweight” rating and a $6.00 price objective on the stock. Susquehanna boosted their price objective on JetBlue Airways from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Bank of America cut JetBlue Airways from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $6.00 to $3.00 in a research note on Tuesday, January 9th. Six equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, JetBlue Airways currently has an average rating of “Hold” and an average price target of $5.75.

JetBlue Airways Stock Performance

JetBlue Airways stock opened at $6.83 on Wednesday. The stock has a market cap of $2.32 billion, a P/E ratio of -7.27 and a beta of 1.86. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 1.32. The stock has a 50 day moving average of $6.75 and a 200-day moving average of $5.49. JetBlue Airways has a 52 week low of $3.42 and a 52 week high of $9.45.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings data on Tuesday, January 30th. The transportation company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.10. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.29 billion. JetBlue Airways had a negative net margin of 3.23% and a negative return on equity of 4.41%. JetBlue Airways’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the company earned $0.22 earnings per share.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of JBLU. Raymond James & Associates raised its stake in shares of JetBlue Airways by 162.3% in the first quarter. Raymond James & Associates now owns 174,219 shares of the transportation company’s stock valued at $2,605,000 after purchasing an additional 107,791 shares in the last quarter. American Century Companies Inc. raised its stake in shares of JetBlue Airways by 21.7% in the first quarter. American Century Companies Inc. now owns 44,471 shares of the transportation company’s stock valued at $665,000 after purchasing an additional 7,941 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of JetBlue Airways by 4.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 57,508 shares of the transportation company’s stock valued at $860,000 after purchasing an additional 2,320 shares in the last quarter. Natixis Advisors L.P. raised its stake in shares of JetBlue Airways by 10.2% in the first quarter. Natixis Advisors L.P. now owns 20,552 shares of the transportation company’s stock valued at $307,000 after purchasing an additional 1,902 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of JetBlue Airways in the first quarter valued at $1,117,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

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.