JetBlue Airways (NASDAQ:JBLU – Get Free Report) issued an update on its fourth quarter 2023 earnings guidance on Monday morning. The company provided EPS guidance of -0.350–0.250 for the period, compared to the consensus EPS estimate of -0.390. The company issued revenue guidance of $2.2 billion-$2.3 billion, compared to the consensus revenue estimate of $2.2 billion. JetBlue Airways also updated its FY 2023 guidance to -0.500–0.400 EPS.

JetBlue Airways Price Performance

Shares of NASDAQ:JBLU traded up $0.02 during trading on Monday, reaching $5.43. 10,340,701 shares of the company’s stock traded hands, compared to its average volume of 12,908,206. The company has a quick ratio of 0.50, a current ratio of 0.53 and a debt-to-equity ratio of 1.09. JetBlue Airways has a fifty-two week low of $3.42 and a fifty-two week high of $9.45. The company has a 50-day simple moving average of $4.41 and a 200-day simple moving average of $6.04. The firm has a market cap of $1.81 billion, a PE ratio of -9.70 and a beta of 1.75.

JetBlue Airways (NASDAQ:JBLU – Get Free Report) last announced its earnings results on Tuesday, October 31st. The transportation company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.14). JetBlue Airways had a negative return on equity of 0.46% and a negative net margin of 1.89%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same period in the previous year, the company earned $0.21 earnings per share. The company’s quarterly revenue was down 8.2% compared to the same quarter last year. As a group, analysts predict that JetBlue Airways will post -0.45 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on JBLU. Citigroup cut their target price on shares of JetBlue Airways from $7.50 to $5.75 and set a neutral rating for the company in a research note on Monday, October 9th. BNP Paribas lowered JetBlue Airways from a neutral rating to an underperform rating and set a $3.00 price objective for the company. in a research note on Friday, November 10th. StockNews.com started coverage on JetBlue Airways in a research report on Thursday, October 5th. They issued a sell rating on the stock. Finally, Susquehanna dropped their price target on JetBlue Airways from $5.00 to $4.00 and set a neutral rating for the company in a research report on Wednesday, November 1st. Four equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $7.03.

View Our Latest Analysis on JBLU

Institutional Investors Weigh In On JetBlue Airways

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Captrust Financial Advisors grew its holdings in JetBlue Airways by 20.9% in the 1st quarter. Captrust Financial Advisors now owns 7,887 shares of the transportation company’s stock valued at $118,000 after buying an additional 1,365 shares in the last quarter. Retirement Systems of Alabama raised its holdings in shares of JetBlue Airways by 0.3% during the 3rd quarter. Retirement Systems of Alabama now owns 423,984 shares of the transportation company’s stock worth $2,811,000 after acquiring an additional 1,400 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of JetBlue Airways by 1.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 174,399 shares of the transportation company’s stock valued at $1,156,000 after acquiring an additional 1,811 shares during the last quarter. Natixis Advisors L.P. grew its holdings in shares of JetBlue Airways by 10.2% in the first quarter. Natixis Advisors L.P. now owns 20,552 shares of the transportation company’s stock valued at $307,000 after purchasing an additional 1,902 shares during the period. Finally, Yousif Capital Management LLC increased its position in JetBlue Airways by 1.2% during the first quarter. Yousif Capital Management LLC now owns 169,123 shares of the transportation company’s stock worth $2,528,000 after purchasing an additional 2,044 shares during the last quarter. Institutional investors and hedge funds own 74.82% of the company’s stock.

About JetBlue Airways (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.

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Original: MarketBeat News Feed: JetBlue Airways (NASDAQ:JBLU) Updates Q4 2023 Earnings Guidance