$1.76 Billion in Sales Expected for JetBlue Airways Co. (JBLU) This Quarter

Analysts forecast that JetBlue Airways Co. (NASDAQ:JBLU) will announce sales of $1.76 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for JetBlue Airways’ earnings, with estimates ranging from $1.74 billion to $1.77 billion. JetBlue Airways reported sales of $1.60 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 10%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Tuesday, April 24th.

According to Zacks, analysts expect that JetBlue Airways will report full-year sales of $1.76 billion for the current fiscal year, with estimates ranging from $7.62 billion to $7.75 billion. For the next financial year, analysts forecast that the company will report sales of $8.34 billion per share, with estimates ranging from $8.24 billion to $8.47 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow JetBlue Airways.

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JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings data on Thursday, January 25th. The transportation company reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). JetBlue Airways had a net margin of 16.35% and a return on equity of 13.57%. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter last year, the company earned $0.50 EPS. The business’s revenue was up 7.0% compared to the same quarter last year.

JBLU has been the topic of several recent analyst reports. ValuEngine upgraded shares of JetBlue Airways from a “buy” rating to a “strong-buy” rating in a report on Monday, December 11th. Cowen restated a “market perform” rating and set a $24.00 price objective (up previously from $22.00) on shares of JetBlue Airways in a report on Tuesday, December 12th. BidaskClub upgraded shares of JetBlue Airways from a “sell” rating to a “hold” rating in a report on Friday, December 22nd. Bank of America downgraded shares of JetBlue Airways from a “buy” rating to an “underperform” rating and set a $22.00 price objective on the stock. in a report on Tuesday, January 9th. Finally, Stifel Nicolaus restated a “hold” rating and set a $23.00 price objective (up previously from $20.00) on shares of JetBlue Airways in a report on Wednesday, January 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $24.48.

In other JetBlue Airways news, CEO Robin Hayes sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $21.05, for a total value of $42,100.00. Following the sale, the chief executive officer now owns 428,069 shares in the company, valued at approximately $9,010,852.45. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP George Martin J. St sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $23.00, for a total value of $69,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,000 shares of company stock worth $365,420. 0.60% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc boosted its position in JetBlue Airways by 8.8% in the 3rd quarter. Legal & General Group Plc now owns 260,874 shares of the transportation company’s stock worth $4,834,000 after purchasing an additional 21,209 shares in the last quarter. Mitsubishi UFJ Asset Management UK Ltd. boosted its position in JetBlue Airways by 50.9% in the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 68,200 shares of the transportation company’s stock worth $1,523,000 after purchasing an additional 23,000 shares in the last quarter. Frontier Capital Management Co. LLC boosted its position in JetBlue Airways by 47.0% in the 4th quarter. Frontier Capital Management Co. LLC now owns 5,293,229 shares of the transportation company’s stock worth $118,251,000 after purchasing an additional 1,692,657 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in JetBlue Airways by 9.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 532,721 shares of the transportation company’s stock worth $11,901,000 after purchasing an additional 48,133 shares in the last quarter. Finally, U S Global Investors Inc. boosted its position in JetBlue Airways by 20.9% in the 3rd quarter. U S Global Investors Inc. now owns 254,450 shares of the transportation company’s stock worth $4,712,000 after purchasing an additional 43,994 shares in the last quarter. Institutional investors and hedge funds own 91.03% of the company’s stock.

JBLU opened at $19.95 on Friday. JetBlue Airways has a 52-week low of $18.05 and a 52-week high of $24.13. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.48 and a current ratio of 0.50. The stock has a market cap of $6,591.68, a PE ratio of 11.67, a P/E/G ratio of 0.59 and a beta of 0.55.

JetBlue Airways announced that its Board of Directors has approved a share buyback plan on Wednesday, December 13th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the transportation company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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JetBlue Airways Company Profile

JetBlue Airways Corporation is a passenger carrier company. The Company provides air transportation services across the United States, the Caribbean and Latin America. Its segments include Domestic, and Caribbean & Latin America. It operates various kinds of aircrafts, including Airbus A321, Airbus A320 and Embraer E190.

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Earnings History and Estimates for JetBlue Airways (NASDAQ:JBLU)

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