$490.79 Million in Sales Expected for JetBlue Airways Co. (NASDAQ:JBLU) This Quarter

Brokerages predict that JetBlue Airways Co. (NASDAQ:JBLU) will post $490.79 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for JetBlue Airways’ earnings. The lowest sales estimate is $417.64 million and the highest is $538.20 million. JetBlue Airways posted sales of $2.09 billion during the same quarter last year, which would indicate a negative year over year growth rate of 76.5%. The company is expected to issue its next quarterly earnings report on Tuesday, October 27th.

On average, analysts expect that JetBlue Airways will report full-year sales of $3.22 billion for the current financial year, with estimates ranging from $3.03 billion to $3.56 billion. For the next financial year, analysts expect that the business will report sales of $6.24 billion, with estimates ranging from $5.72 billion to $6.95 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover JetBlue Airways.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, July 28th. The transportation company reported ($2.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.86) by ($0.16). JetBlue Airways had a negative return on equity of 7.24% and a negative net margin of 4.05%. The business had revenue of $215.00 million for the quarter, compared to analyst estimates of $208.51 million. During the same quarter last year, the company earned $0.60 EPS. The business’s revenue for the quarter was down 89.8% compared to the same quarter last year.

Several research firms recently issued reports on JBLU. Bank of America raised shares of JetBlue Airways from an “underperform” rating to a “neutral” rating in a report on Monday, June 8th. Morgan Stanley began coverage on shares of JetBlue Airways in a report on Tuesday, September 8th. They set an “overweight” rating and a $16.00 price objective for the company. BidaskClub raised shares of JetBlue Airways from a “sell” rating to a “hold” rating in a report on Saturday, September 5th. TheStreet downgraded shares of JetBlue Airways from a “c-” rating to a “d” rating in a report on Tuesday, July 28th. Finally, ValuEngine raised shares of JetBlue Airways from a “buy” rating to a “strong-buy” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $14.77.

Shares of JBLU traded down $0.53 during mid-day trading on Tuesday, hitting $11.42. 7,946,273 shares of the company’s stock were exchanged, compared to its average volume of 12,654,381. The firm has a fifty day moving average of $11.78 and a two-hundred day moving average of $10.49. JetBlue Airways has a twelve month low of $6.61 and a twelve month high of $21.65. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of -11.90 and a beta of 1.40. The company has a quick ratio of 0.93, a current ratio of 0.95 and a debt-to-equity ratio of 0.84.

In other news, insider Scott M. Laurence sold 8,409 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $10.81, for a total transaction of $90,901.29. Following the completion of the transaction, the insider now directly owns 2,957 shares of the company’s stock, valued at approximately $31,965.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Easwaran Sundaram sold 31,824 shares of the stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $12.93, for a total transaction of $411,484.32. Following the sale, the insider now owns 113,918 shares of the company’s stock, valued at approximately $1,472,959.74. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Mackenzie Financial Corp acquired a new stake in shares of JetBlue Airways during the 1st quarter worth about $277,000. Assetmark Inc. increased its position in shares of JetBlue Airways by 91.1% during the 2nd quarter. Assetmark Inc. now owns 6,565 shares of the transportation company’s stock worth $72,000 after purchasing an additional 3,130 shares in the last quarter. Toronto Dominion Bank acquired a new stake in shares of JetBlue Airways during the 1st quarter worth about $288,000. Cipher Capital LP acquired a new stake in shares of JetBlue Airways during the 1st quarter worth about $446,000. Finally, Mid Atlantic Financial Management Inc. ADV increased its position in shares of JetBlue Airways by 18.0% during the 1st quarter. Mid Atlantic Financial Management Inc. ADV now owns 25,093 shares of the transportation company’s stock worth $225,000 after purchasing an additional 3,831 shares in the last quarter. Institutional investors and hedge funds own 76.59% of the company’s stock.

JetBlue Airways Company Profile

JetBlue Airways Corporation, a passenger carrier company, provides air transportation services. As of December 31, 2018, the company operated a fleet of 63 Airbus A321 aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 105 destinations in the 31 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 Airways (NASDAQ:JBLU)

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