JetBlue Airways (NASDAQ:JBLU) Updates Q1 2023 Earnings Guidance

JetBlue Airways (NASDAQ:JBLU – Get Rating) issued an update on its first quarter 2023 earnings guidance on Friday morning. The company provided EPS guidance of -$0.45–$0.35 for the period, compared to the consensus EPS estimate of -$0.42. The company issued revenue guidance of $2.29 billion-$2.34 billion, compared to the consensus revenue estimate of $2.27 billion. JetBlue Airways also updated its FY 2023 guidance to $0.70-$1.00 EPS.

JetBlue Airways Stock Down 2.5 %

Shares of NASDAQ:JBLU opened at $6.92 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.51 and a quick ratio of 0.49. The business has a 50-day moving average price of $8.19 and a 200 day moving average price of $7.64. JetBlue Airways has a 12-month low of $6.18 and a 12-month high of $15.26.

JetBlue Airways (NASDAQ:JBLU – Get Rating) last released its earnings results on Thursday, January 26th. The transportation company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.40 billion. JetBlue Airways had a negative return on equity of 7.60% and a negative net margin of 3.95%. JetBlue Airways’s revenue was up 30.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.36) EPS. As a group, analysts expect that JetBlue Airways will post 0.84 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wolfe Research lifted their target price on JetBlue Airways from $6.00 to $7.00 in a research report on Friday, January 27th. StockNews.com assumed coverage on JetBlue Airways in a research report on Friday. They set a hold rating for the company. Deutsche Bank Aktiengesellschaft lowered their price objective on JetBlue Airways from $10.00 to $8.50 in a research report on Tuesday, December 20th. Cowen downgraded JetBlue Airways from an outperform rating to a market perform rating and lowered their price objective for the stock from $10.00 to $9.00 in a research report on Thursday, December 15th. Finally, Citigroup assumed coverage on JetBlue Airways in a research report on Monday, December 5th. They set a neutral rating and a $9.00 price objective for the company. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, JetBlue Airways presently has a consensus rating of Hold and a consensus price target of $10.46.

Institutional Investors Weigh In On JetBlue Airways

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Neo Ivy Capital Management acquired a new position in shares of JetBlue Airways in the second quarter valued at approximately $33,000. Compass Wealth Management LLC acquired a new position in shares of JetBlue Airways in the fourth quarter valued at approximately $35,000. Alpine Global Management LLC acquired a new position in shares of JetBlue Airways in the fourth quarter valued at approximately $82,000. Bridgefront Capital LLC acquired a new position in JetBlue Airways during the fourth quarter worth $85,000. Finally, Captrust Financial Advisors grew its holdings in JetBlue Airways by 34.3% during the third quarter. Captrust Financial Advisors now owns 15,360 shares of the transportation company’s stock worth $102,000 after acquiring an additional 3,920 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

JetBlue Airways Company Profile

(Get Rating)

JetBlue Airways Corp. provides air transportation services. It carries more than 30 million customers a year to 86 cities in the U.S., Caribbean, and Latin America with an average of 850 daily flights. The firm offers flights and tickets to more than 82 destinations, with accommodations such as free TV, free snacks, and the most legroom.