Zacks Research Forecasts Higher Earnings for JetBlue Airways

JetBlue Airways Co. (NASDAQ:JBLU - Free Report) - Analysts at Zacks Research boosted their Q3 2024 earnings estimates for JetBlue Airways in a research note issued to investors on Monday, October 21st. Zacks Research analyst M. Basu now forecasts that the transportation company will post earnings of ($0.37) per share for the quarter, up from their previous estimate of ($0.38). The consensus estimate for JetBlue Airways' current full-year earnings is ($0.91) per share. Zacks Research also issued estimates for JetBlue Airways' Q1 2025 earnings at ($0.33) EPS, Q2 2025 earnings at ($0.05) EPS, Q3 2025 earnings at ($0.04) EPS, Q4 2025 earnings at ($0.10) EPS, FY2025 earnings at ($0.53) EPS and Q3 2026 earnings at $0.08 EPS.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last issued its earnings results on Tuesday, July 30th. The transportation company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of ($0.18) by $0.26. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.40 billion. JetBlue Airways had a negative return on equity of 10.29% and a negative net margin of 10.18%. JetBlue Airways's revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.45 EPS.

A number of other brokerages also recently weighed in on JBLU. Susquehanna raised their price objective on JetBlue Airways from $6.00 to $7.00 and gave the company a "neutral" rating in a research report on Wednesday, October 9th. StockNews.com raised shares of JetBlue Airways to a "sell" rating in a report on Friday, October 11th. Bank of America upgraded JetBlue Airways from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $3.00 to $6.00 in a report on Monday, September 9th. Citigroup upped their target price on JetBlue Airways from $6.00 to $7.75 and gave the company a "neutral" rating in a research report on Tuesday. Finally, TD Cowen boosted their price target on JetBlue Airways from $5.00 to $6.00 and gave the stock a "hold" rating in a research note on Friday, September 6th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $5.98.

JetBlue Airways Stock Down 2.6 %

Shares of NASDAQ:JBLU traded down $0.19 during trading hours on Wednesday, hitting $7.18. The company's stock had a trading volume of 10,622,603 shares, compared to its average volume of 15,351,331. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.54 and a quick ratio of 0.50. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of -2.91 and a beta of 1.92. The firm's fifty day moving average price is $5.98 and its 200 day moving average price is $5.93. JetBlue Airways has a 52 week low of $3.42 and a 52 week high of $8.07.

Institutional Investors Weigh In On JetBlue Airways

A number of institutional investors have recently modified their holdings of JBLU. Assenagon Asset Management S.A. acquired a new position in JetBlue Airways during the third quarter worth $5,311,000. Bogart Wealth LLC lifted its position in shares of JetBlue Airways by 1,951.2% in the third quarter. Bogart Wealth LLC now owns 4,205 shares of the transportation company's stock valued at $28,000 after acquiring an additional 4,000 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of JetBlue Airways by 397.9% in the third quarter. International Assets Investment Management LLC now owns 82,623 shares of the transportation company's stock worth $542,000 after acquiring an additional 66,028 shares during the last quarter. Jade Capital Advisors LLC increased its position in shares of JetBlue Airways by 800.0% during the third quarter. Jade Capital Advisors LLC now owns 450,000 shares of the transportation company's stock worth $2,952,000 after purchasing an additional 400,000 shares in the last quarter. Finally, Resonant Capital Advisors LLC purchased a new position in JetBlue Airways in the 3rd quarter valued at $67,000. 83.71% of the stock is currently owned by institutional investors and hedge funds.

About JetBlue Airways

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A321, Airbus A220, Airbus A321neo, Airbus A320 Restyled, Airbus A320, Airbus A321 with Mint, Airbus A321neo with Mint, Airbus A321neoLR with Mint, and Embraer E190 aircraft. It also serves 100 destinations across the United States, the Caribbean and Latin America, Canada, and Europe.