JetBlue Airways (NASDAQ:JBLU) Issues FY 2023 Earnings Guidance

JetBlue Airways (NASDAQ:JBLU – Get Rating) issued an update on its FY 2023 earnings guidance on Friday morning. The company provided EPS guidance of $0.70-$1.00 for the period, compared to the consensus EPS estimate of $0.44. The company issued revenue guidance of -. JetBlue Airways also updated its Q1 2023 guidance to -$0.45–$0.35 EPS.

JetBlue Airways Price Performance

Shares of NASDAQ JBLU opened at $6.92 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.49 and a current ratio of 0.51. The stock’s fifty day simple moving average is $8.19 and its 200 day simple moving average is $7.64. JetBlue Airways has a 52-week low of $6.18 and a 52-week high of $15.26.

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

Analysts Set New Price Targets

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

Institutional Trading of JetBlue Airways

Institutional investors and hedge funds have recently made changes to their positions in the stock. Neo Ivy Capital Management acquired a new stake in shares of JetBlue Airways in the second quarter worth about $33,000. Compass Wealth Management LLC acquired a new stake in shares of JetBlue Airways in the fourth quarter worth about $35,000. Captrust Financial Advisors lifted its position in shares of JetBlue Airways by 20.9% in the first quarter. Captrust Financial Advisors now owns 7,887 shares of the transportation company’s stock worth $118,000 after buying an additional 1,365 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of JetBlue Airways in the first quarter worth about $151,000. Finally, Alpine Global Management LLC bought a new position in shares of JetBlue Airways in the fourth quarter worth about $82,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

About JetBlue Airways

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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.