FY2023 EPS Estimates for JetBlue Airways Co. (NASDAQ:JBLU) Cut by Analyst

JetBlue Airways Co. (NASDAQ:JBLU) – Equities researchers at Seaport Res Ptn reduced their FY2023 EPS estimates for JetBlue Airways in a research note issued on Tuesday, October 31st. Seaport Res Ptn analyst D. Mckenzie now anticipates that the transportation company will earn ($0.67) per share for the year, down from their previous forecast of ($0.33). The consensus estimate for JetBlue Airways’ current full-year earnings is ($0.45) per share. Seaport Res Ptn also issued estimates for JetBlue Airways’ Q4 2023 earnings at ($0.40) EPS, Q1 2024 earnings at ($0.30) EPS, Q2 2024 earnings at $0.40 EPS, Q3 2024 earnings at $0.25 EPS, Q4 2024 earnings at ($0.15) EPS and FY2024 earnings at $0.20 EPS.

JetBlue Airways (NASDAQ:JBLU) last posted its quarterly earnings data on Tuesday, October 31st. The transportation company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.14). The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.38 billion. JetBlue Airways had a negative return on equity of 0.46% and a negative net margin of 1.89%. The business’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter last year, the business posted $0.21 EPS.

Several other research firms have also recently weighed in on JBLU. StockNews.com assumed coverage on shares of JetBlue Airways in a report on Thursday, October 5th. They issued a “sell” rating on the stock. Evercore ISI downgraded 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. Susquehanna decreased their price target on JetBlue Airways from $5.00 to $4.00 and set a “neutral” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. reduced their target price on JetBlue Airways from $8.00 to $6.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 2nd. Finally, Citigroup cut their target price on JetBlue Airways from $7.50 to $5.75 and set a “neutral” rating on the stock in a research note on Monday, October 9th. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $7.47.

JetBlue Airways Price Performance

JBLU stock opened at $4.39 on Friday. The firm has a 50 day moving average of $4.77 and a 200-day moving average of $6.49. The firm has a market capitalization of $1.46 billion, a P/E ratio of -7.84 and a beta of 1.74. The company has a current ratio of 0.53, a quick ratio of 0.55 and a debt-to-equity ratio of 1.09. JetBlue Airways has a 12 month low of $3.42 and a 12 month high of $9.45.

Insider Buying and Selling

In related news, insider Gerald Alfred Spencer sold 11,879 shares of JetBlue Airways stock in a transaction on Friday, August 18th. The stock was sold at an average price of $6.35, for a total transaction of $75,431.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On JetBlue Airways

A number of hedge funds and other institutional investors have recently made changes to their positions in JBLU. Neo Ivy Capital Management purchased a new stake in JetBlue Airways during the second quarter valued at about $33,000. Quarry LP acquired a new stake in JetBlue Airways in the first quarter valued at approximately $32,000. Compass Wealth Management LLC acquired a new stake in JetBlue Airways in the fourth quarter valued at approximately $35,000. Performa Ltd US LLC grew its position in JetBlue Airways by 96.6% in the third quarter. Performa Ltd US LLC now owns 5,700 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 2,800 shares in the last quarter. Finally, Signaturefd LLC grew its position in JetBlue Airways by 72.8% in the third quarter. Signaturefd LLC now owns 6,531 shares of the transportation company’s stock valued at $30,000 after acquiring an additional 2,751 shares in the last quarter. Hedge funds and other institutional investors own 74.82% of the company’s stock.

About JetBlue Airways

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.