$1.73 Billion in Sales Expected for JetBlue Airways Co. (NASDAQ:JBLU) This Quarter

Wall Street brokerages expect that JetBlue Airways Co. (NASDAQ:JBLUGet Rating) will announce sales of $1.73 billion for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for JetBlue Airways’ earnings. The lowest sales estimate is $1.67 billion and the highest is $1.75 billion. JetBlue Airways posted sales of $733.00 million during the same quarter last year, which suggests a positive year over year growth rate of 136%. The company is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that JetBlue Airways will report full year sales of $8.98 billion for the current financial year, with estimates ranging from $8.35 billion to $9.49 billion. For the next year, analysts forecast that the business will post sales of $10.11 billion, with estimates ranging from $9.17 billion to $10.57 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow JetBlue Airways.

JetBlue Airways (NASDAQ:JBLUGet Rating) last released its quarterly earnings results on Thursday, January 27th. The transportation company reported ($0.36) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.04. JetBlue Airways had a negative return on equity of 21.61% and a negative net margin of 3.01%. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the prior year, the company earned ($1.53) EPS. JetBlue Airways’s revenue for the quarter was up 177.5% on a year-over-year basis.

JBLU has been the topic of several research analyst reports. Wolfe Research downgraded JetBlue Airways from a “market perform” rating to an “underperform” rating in a research note on Tuesday. StockNews.com initiated coverage on JetBlue Airways in a research note on Thursday, March 31st. They set a “hold” rating on the stock. MKM Partners raised JetBlue Airways from a “neutral” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Monday. Morgan Stanley dropped their price objective on JetBlue Airways from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Monday, April 4th. Finally, Raymond James downgraded JetBlue Airways from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $18.77.

A number of hedge funds have recently modified their holdings of JBLU. BlackRock Inc. raised its holdings in shares of JetBlue Airways by 2.2% in the 4th quarter. BlackRock Inc. now owns 25,806,918 shares of the transportation company’s stock valued at $367,490,000 after acquiring an additional 559,547 shares in the last quarter. State Street Corp grew its position in shares of JetBlue Airways by 10.4% in the 4th quarter. State Street Corp now owns 8,784,527 shares of the transportation company’s stock worth $125,092,000 after buying an additional 824,410 shares during the last quarter. Donald Smith & CO. Inc. boosted its position in shares of JetBlue Airways by 2.8% during the fourth quarter. Donald Smith & CO. Inc. now owns 7,382,634 shares of the transportation company’s stock valued at $105,129,000 after purchasing an additional 201,729 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of JetBlue Airways by 24.4% during the third quarter. Wellington Management Group LLP now owns 7,354,144 shares of the transportation company’s stock valued at $112,445,000 after purchasing an additional 1,443,214 shares in the last quarter. Finally, U S Global Investors Inc. boosted its position in shares of JetBlue Airways by 16.0% during the third quarter. U S Global Investors Inc. now owns 7,162,115 shares of the transportation company’s stock valued at $109,509,000 after purchasing an additional 986,497 shares in the last quarter. 76.69% of the stock is owned by institutional investors and hedge funds.

Shares of JBLU stock traded up $0.14 during trading hours on Thursday, reaching $12.17. The company had a trading volume of 10,608,588 shares, compared to its average volume of 9,446,356. The company has a 50 day moving average of $14.32 and a 200 day moving average of $14.56. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.93. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of -20.84 and a beta of 1.39. JetBlue Airways has a 1-year low of $11.37 and a 1-year high of $21.60.

JetBlue Airways Company Profile (Get Rating)

JetBlue Airways Corporation provides air passenger transportation services. As of December 31, 2021, the company operated a fleet of 63 Airbus A321 aircraft, 8 Airbus A220 aircraft, 21 Airbus A321neo aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 107 destinations in the 31 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.

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