JetBlue Airways (NASDAQ:JBLU) Releases Quarterly Earnings Results

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

JetBlue Airways Trading Down 8.1%

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 PE ratio of -3.59 and a beta of 1.78. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 3.42. The stock has a fifty day simple moving average of $4.79 and a 200-day simple moving average of $4.75.

Hedge Funds Weigh In On JetBlue Airways

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd lifted its stake in JetBlue Airways by 639.1% in the third quarter. Caitong International Asset Management Co. Ltd now owns 5,839 shares of the transportation company’s stock valued at $29,000 after buying an additional 5,049 shares during the last quarter. HUB Investment Partners LLC bought a new stake in shares of JetBlue Airways during the second quarter valued at approximately $45,000. Rafferty Asset Management LLC bought a new position in JetBlue Airways in the 2nd quarter worth approximately $51,000. NewEdge Advisors LLC increased its stake in JetBlue Airways by 1,113.2% during the 2nd quarter. NewEdge Advisors LLC now owns 13,078 shares of the transportation company’s stock valued at $55,000 after buying an additional 12,000 shares during the period. Finally, Cinctive Capital Management LP bought a new position in JetBlue Airways during the third quarter valued at about $86,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Morgan Stanley dropped their target price on JetBlue Airways from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Monday, December 8th. Citigroup dropped their price target on shares of JetBlue Airways from $4.10 to $4.00 and set a “sell” rating for the company in a research report on Wednesday, January 7th. TD Cowen lifted their price target on shares of JetBlue Airways from $4.00 to $5.00 and gave the stock a “hold” rating in a research note on Wednesday, January 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of JetBlue Airways in a report on Thursday. Finally, Susquehanna lifted their price objective on shares of JetBlue Airways from $4.55 to $5.00 and gave the company a “neutral” rating in a research note on Friday, January 9th. Five equities research analysts have rated the stock with a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Strong Sell” and a consensus target price of $4.93.

About JetBlue Airways

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.