JetBlue Airways (NASDAQ:JBLU) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

JetBlue Airways (NASDAQ:JBLU) announced its quarterly earnings results on Tuesday. The transportation company reported ($0.66) EPS for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.03, FiscalAI reports. JetBlue Airways had a negative net margin of 7.78% and a negative return on equity of 32.76%. The company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same period in the prior year, the company posted ($0.21) EPS.

JetBlue Airways Stock Performance

JetBlue Airways stock opened at $5.43 on Tuesday. The stock’s 50 day moving average is $5.36 and its 200 day moving average is $5.17. The company has a quick ratio of 0.64, a current ratio of 0.70 and a debt-to-equity ratio of 4.25. The company has a market capitalization of $2.02 billion, a P/E ratio of -2.80 and a beta of 1.73. JetBlue Airways has a twelve month low of $3.87 and a twelve month high of $6.50.

Insider Activity at JetBlue Airways

In related news, Director Thomas Winkelmann sold 35,473 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $4.70, for a total value of $166,723.10. Following the completion of the transaction, the director directly owned 13,379 shares in the company, valued at $62,881.30. The trade was a 72.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vivek Sharma sold 32,000 shares of JetBlue Airways stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $5.41, for a total value of $173,120.00. Following the completion of the sale, the director owned 35,479 shares of the company’s stock, valued at $191,941.39. The trade was a 47.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.41% of the stock is owned by company insiders.

Institutional Investors Weigh In On JetBlue Airways

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its stake in 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 period. Kestra Advisory Services LLC purchased a new stake in JetBlue Airways during the fourth quarter valued at approximately $30,000. Aster Capital Management DIFC Ltd purchased a new stake in JetBlue Airways during the 4th quarter valued at $41,000. HUB Investment Partners LLC purchased a new stake in shares of JetBlue Airways in the second quarter valued at $45,000. Finally, FORA Capital LLC purchased a new stake in JetBlue Airways in the 4th quarter worth about $48,000. Institutional investors own 83.71% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on JBLU shares. The Goldman Sachs Group raised their target price on JetBlue Airways from $3.50 to $4.50 and gave the stock a “sell” rating in a research note on Thursday, July 2nd. Citigroup boosted their price target on shares of JetBlue Airways from $4.40 to $6.60 and gave the stock a “neutral” rating in a research note on Friday, June 26th. Wall Street Zen upgraded shares of JetBlue Airways from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. Seaport Research Partners raised JetBlue Airways from a “neutral” rating to a “buy” rating and set a $8.00 target price for the company in a research note on Thursday, April 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of JetBlue Airways in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, JetBlue Airways has an average rating of “Reduce” and a consensus price target of $5.31.

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.