Analysts Anticipate JetBlue (JBLU) Will Post Quarterly Sales of $1.94 Billion

Analysts expect that JetBlue (NASDAQ:JBLU) will post $1.94 billion in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for JetBlue’s earnings. The lowest sales estimate is $1.93 billion and the highest is $1.95 billion. JetBlue posted sales of $1.84 billion in the same quarter last year, which suggests a positive year over year growth rate of 5.4%. The firm is scheduled to report its next quarterly earnings report on Tuesday, July 24th.

On average, analysts expect that JetBlue will report full year sales of $7.67 billion for the current financial year, with estimates ranging from $7.63 billion to $7.72 billion. For the next fiscal year, analysts anticipate that the business will post sales of $8.33 billion per share, with estimates ranging from $8.26 billion to $8.46 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for JetBlue.

JetBlue (NASDAQ:JBLU) last issued its earnings results on Tuesday, April 24th. The transportation company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.05. JetBlue had a return on equity of 13.10% and a net margin of 16.05%. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter last year, the business earned $0.25 earnings per share. The company’s revenue was up 9.6% compared to the same quarter last year.

Several equities analysts have recently weighed in on the company. ValuEngine cut JetBlue from a “buy” rating to a “hold” rating in a report on Monday, April 9th. Morgan Stanley cut their price objective on JetBlue from $23.00 to $22.00 and set an “equal weight” rating on the stock in a report on Thursday, April 12th. JPMorgan Chase cut JetBlue from an “overweight” rating to a “neutral” rating and set a $22.00 price objective on the stock. in a report on Monday, April 30th. Buckingham Research reiterated a “neutral” rating on shares of JetBlue in a report on Friday, January 26th. Finally, Imperial Capital reiterated an “outperform” rating and set a $31.00 price objective on shares of JetBlue in a report on Friday, January 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $24.09.

Shares of JetBlue traded up $0.46, hitting $19.47, during trading on Friday, Marketbeat Ratings reports. 6,058,072 shares of the company’s stock traded hands, compared to its average volume of 4,898,848. JetBlue has a 52 week low of $18.97 and a 52 week high of $19.45. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.53 and a quick ratio of 0.53. The stock has a market capitalization of $5.97 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 0.58 and a beta of 0.57.

In other JetBlue news, EVP George Martin J. St sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, April 16th. The stock was sold at an average price of $19.60, for a total value of $58,800.00. Following the sale, the executive vice president now owns 34,474 shares in the company, valued at approximately $675,690.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robin Hayes sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $19.11, for a total value of $38,220.00. The disclosure for this sale can be found here. Insiders sold a total of 12,000 shares of company stock worth $247,500 in the last 90 days. Company insiders own 0.63% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in shares of JetBlue by 1.4% during the 1st quarter. BlackRock Inc. now owns 26,206,220 shares of the transportation company’s stock worth $532,510,000 after purchasing an additional 373,481 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of JetBlue by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,460,137 shares of the transportation company’s stock worth $232,870,000 after purchasing an additional 71,950 shares during the last quarter. LSV Asset Management increased its position in shares of JetBlue by 17.5% during the 1st quarter. LSV Asset Management now owns 6,384,735 shares of the transportation company’s stock worth $129,737,000 after purchasing an additional 953,000 shares during the last quarter. Frontier Capital Management Co. LLC increased its position in shares of JetBlue by 6.4% during the 1st quarter. Frontier Capital Management Co. LLC now owns 5,634,300 shares of the transportation company’s stock worth $114,489,000 after purchasing an additional 341,071 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of JetBlue by 5.8% during the 4th quarter. Bank of New York Mellon Corp now owns 3,634,230 shares of the transportation company’s stock worth $81,189,000 after purchasing an additional 200,237 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

JetBlue Company Profile

JetBlue Airways Corporation, a passenger carrier company, provides air transportation services. As of December 31, 2017, the company operated a fleet of 53 Airbus A321 aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 101 destinations in 30 states in the United States, the District of Columbia, the Commonwealth of Puerto Rico, the U.S.

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Earnings History and Estimates for JetBlue (NASDAQ:JBLU)

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