JetBlue Airways (NASDAQ:JBLU) Releases Earnings Results, Misses Estimates By $0.04 EPS

JetBlue Airways (NASDAQ:JBLU) announced its quarterly earnings results on Tuesday. The transportation company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.04), Zacks reports. The firm had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.22 billion. JetBlue Airways had a negative net margin of 5.16% and a negative return on equity of 19.87%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.21) EPS.

JetBlue Airways Stock Down 8.1%

Shares of NASDAQ JBLU opened at $4.67 on Tuesday. JetBlue Airways has a 52-week low of $3.34 and a 52-week high of $7.83. The company has a market capitalization of $1.70 billion, a P/E ratio of -3.59 and a beta of 1.78. The company’s 50 day moving average price is $4.79 and its 200-day moving average price is $4.75. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.77 and a current ratio of 0.82.

Wall Street Analyst Weigh In

Several brokerages recently commented on JBLU. Morgan Stanley decreased their price target on JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Monday, December 8th. The Goldman Sachs Group raised their price target on JetBlue Airways from $3.50 to $4.00 and gave the stock a “sell” rating in a research report on Tuesday, January 13th. Susquehanna lifted their price target on shares of JetBlue Airways from $4.55 to $5.00 and gave the stock a “neutral” rating in a research report on Friday, January 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of JetBlue Airways in a research report on Thursday. Finally, TD Cowen raised their price objective on JetBlue Airways from $4.00 to $5.00 and gave the company a “hold” rating in a report on Wednesday, January 7th. Five research analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, JetBlue Airways presently has a consensus rating of “Strong Sell” and an average target price of $4.93.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of JBLU. Caitong International Asset Management Co. Ltd increased its position in shares of JetBlue Airways by 639.1% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 5,049 shares during the last quarter. Caxton Associates LLP purchased a new stake in JetBlue Airways during the third quarter worth about $780,000. XTX Topco Ltd bought a new stake in JetBlue Airways in the 3rd quarter valued at about $982,000. Voleon Capital Management LP bought a new position in JetBlue Airways in the 3rd quarter worth about $2,763,000. Finally, Sherbrooke Park Advisers LLC bought a new stake in shares of JetBlue Airways in the 3rd quarter worth approximately $120,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

JetBlue Airways Company Profile

JetBlue Airways Corporation is a low-cost scheduled passenger airline headquartered in Long Island City, New York. Since commencing service in 2000, the carrier has built a reputation for combining competitive fares with enhanced onboard amenities, including free in-flight entertainment, complimentary snacks and beverages, and onboard Wi-Fi. JetBlue operates a single fleet type of Airbus A320 family and Embraer 190 aircraft, which supports its focus on efficiency and operational consistency.

The airline’s core offerings include economy-class travel and a premium business-class product known as Mint, which features lie-flat seats, curated culinary options and elevated service on select transcontinental and international routes.