Seaport Res Ptn Weighs in on JetBlue Airways Co.’s Q3 2023 Earnings (NASDAQ:JBLU)

Posted by on Aug 5th, 2023

JetBlue Airways Co. (NASDAQ:JBLU – Free Report) – Investment analysts at Seaport Res Ptn decreased their Q3 2023 earnings estimates for shares of JetBlue Airways in a report issued on Tuesday, August 1st. Seaport Res Ptn analyst D. Mckenzie now forecasts that the transportation company will earn ($0.13) per share for the quarter, down from their prior estimate of $0.45. The consensus estimate for JetBlue Airways’ current full-year earnings is $0.23 per share. Seaport Res Ptn also issued estimates for JetBlue Airways’ FY2023 earnings at $0.35 EPS and FY2024 earnings at $1.25 EPS.

JetBlue Airways (NASDAQ:JBLU – Get Free Report) last released its earnings results on Tuesday, August 1st. The transportation company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. JetBlue Airways had a net margin of 0.27% and a return on equity of 5.23%. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the prior year, the company posted ($0.47) EPS. The company’s revenue was up 6.7% compared to the same quarter last year.

A number of other analysts have also recently commented on JBLU. Evercore ISI cut JetBlue Airways from an “in-line” rating to an “underperform” rating and set a $8.00 price target for the company. in a research note on Tuesday, July 11th. Bank of America upped their price target on JetBlue Airways from $9.00 to $10.00 in a research note on Monday, June 26th. JPMorgan Chase & Co. lowered their price target on JetBlue Airways from $8.00 to $6.00 and set an “underweight” rating for the company in a research note on Wednesday. Finally, StockNews.com assumed coverage on JetBlue Airways in a research note on Thursday, May 18th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $8.31.

JetBlue Airways Stock Performance

Shares of JBLU stock opened at $6.68 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.52 and a quick ratio of 0.50. The stock has a market cap of $2.23 billion, a PE ratio of 83.50 and a beta of 1.65. The stock has a 50-day moving average of $7.98 and a 200-day moving average of $7.70. JetBlue Airways has a one year low of $6.18 and a one year high of $9.45.

Institutional Trading of JetBlue Airways

A number of large investors have recently bought and sold shares of the business. Quarry LP acquired a new position in JetBlue Airways during the 1st quarter worth approximately $32,000. Neo Ivy Capital Management acquired a new position in JetBlue Airways during the 2nd quarter worth approximately $33,000. Quadrant Capital Group LLC boosted its position in JetBlue Airways by 127.2% during the 4th quarter. Quadrant Capital Group LLC now owns 5,241 shares of the transportation company’s stock worth $34,000 after acquiring an additional 2,934 shares during the last quarter. Compass Wealth Management LLC acquired a new position in JetBlue Airways during the 4th quarter worth approximately $35,000. Finally, Belpointe Asset Management LLC acquired a new position in JetBlue Airways during the 4th quarter worth approximately $37,000. 71.49% of the stock is owned by institutional investors.

JetBlue Airways Company Profile

(Get Free Report)

JetBlue Airways Corporation provides air passenger transportation services. As of December 31, 2022, the company operated a fleet of 63 Airbus A321 aircraft, 14 Airbus A220 aircraft, 23 Airbus A321neo aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 100 destinations in the 32 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.

Read More

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

Receive News & Ratings for JetBlue Airways Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JetBlue Airways and related companies with MarketBeat.com's FREE daily email newsletter.