Brokerages Anticipate JetBlue Airways Co. (NASDAQ:JBLU) Will Post Earnings of -$1.72 Per Share

Brokerages expect that JetBlue Airways Co. (NASDAQ:JBLU) will report earnings per share (EPS) of ($1.72) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for JetBlue Airways’ earnings, with the lowest EPS estimate coming in at ($1.86) and the highest estimate coming in at ($1.58). JetBlue Airways reported earnings per share of ($0.42) in the same quarter last year, which would suggest a negative year-over-year growth rate of 309.5%. The business is expected to report its next quarterly earnings results on Thursday, May 6th.

According to Zacks, analysts expect that JetBlue Airways will report full year earnings of ($2.31) per share for the current fiscal year, with EPS estimates ranging from ($3.25) to ($0.58). For the next year, analysts anticipate that the business will post earnings of $1.14 per share, with EPS estimates ranging from $0.48 to $2.20. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that that provide coverage for JetBlue Airways.

JetBlue Airways (NASDAQ:JBLU) last issued its quarterly earnings results on Wednesday, January 27th. The transportation company reported ($1.53) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.69) by $0.16. The company had revenue of $661.00 million for the quarter, compared to analyst estimates of $635.33 million. JetBlue Airways had a negative net margin of 18.95% and a negative return on equity of 23.07%. The business’s revenue for the quarter was down 67.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 earnings per share.

A number of analysts recently weighed in on JBLU shares. Susquehanna Bancshares upped their target price on shares of JetBlue Airways from $12.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, January 14th. Bank of America upgraded shares of JetBlue Airways from a “neutral” rating to a “buy” rating in a research note on Friday, January 8th. Deutsche Bank Aktiengesellschaft upgraded shares of JetBlue Airways from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Monday, March 1st. Cowen upgraded shares of JetBlue Airways from a “market perform” rating to an “outperform” rating and set a $17.00 target price on the stock in a research note on Monday, January 11th. Finally, TheStreet upgraded shares of JetBlue Airways from a “d+” rating to a “c” rating in a research note on Wednesday, March 10th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $17.62.

NASDAQ:JBLU traded up $0.04 on Thursday, reaching $21.09. 393,283 shares of the company’s stock were exchanged, compared to its average volume of 9,368,817. The business has a fifty day moving average of $19.46 and a 200-day moving average of $15.39. The company has a quick ratio of 1.21, a current ratio of 1.23 and a debt-to-equity ratio of 1.19. JetBlue Airways has a 52-week low of $7.34 and a 52-week high of $21.96. The firm has a market capitalization of $6.68 billion, a price-to-earnings ratio of -6.87 and a beta of 1.57.

In other news, CFO Stephen J. Priest sold 5,400 shares of the stock in a transaction that occurred on Wednesday, March 3rd. The stock was sold at an average price of $18.63, for a total value of $100,602.00. Following the completion of the sale, the chief financial officer now directly owns 54,939 shares of the company’s stock, valued at $1,023,513.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott M. Laurence sold 3,402 shares of the stock in a transaction that occurred on Friday, February 26th. The shares were sold at an average price of $18.31, for a total value of $62,290.62. The disclosure for this sale can be found here. Insiders sold 13,965 shares of company stock valued at $262,562 over the last three months. Corporate insiders own 0.93% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. U S Global Investors Inc. lifted its holdings in shares of JetBlue Airways by 38.3% during the fourth quarter. U S Global Investors Inc. now owns 7,845,845 shares of the transportation company’s stock worth $114,079,000 after purchasing an additional 2,173,900 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of JetBlue Airways by 9.9% during the fourth quarter. State of Alaska Department of Revenue now owns 51,095 shares of the transportation company’s stock worth $742,000 after purchasing an additional 4,615 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of JetBlue Airways during the fourth quarter worth $2,245,000. Russell Investments Group Ltd. lifted its holdings in shares of JetBlue Airways by 263.1% during the fourth quarter. Russell Investments Group Ltd. now owns 3,644,018 shares of the transportation company’s stock worth $52,983,000 after purchasing an additional 2,640,314 shares during the period. Finally, Retirement Systems of Alabama lifted its holdings in shares of JetBlue Airways by 15.2% during the fourth quarter. Retirement Systems of Alabama now owns 409,884 shares of the transportation company’s stock worth $5,960,000 after purchasing an additional 54,219 shares during the period. 66.67% of the stock is owned by hedge funds and other institutional investors.

About JetBlue Airways

JetBlue Airways Corporation provides air passenger transportation services. As of December 31, 2020, the company operated a fleet of 63 Airbus A321 aircraft, 1 Airbus A220 aircraft, 13 Airbus A321 neo aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 98 destinations in the 30 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.

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