Equities research analysts expect that JetBlue Airways Co. (NASDAQ:JBLU) will post sales of $1.76 billion for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for JetBlue Airways’ earnings. The highest sales estimate is $1.77 billion and the lowest is $1.74 billion. JetBlue Airways reported sales of $1.60 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 10%. The company is scheduled to issue its next quarterly earnings results before the market opens on Tuesday, April 24th.
According to Zacks, analysts expect that JetBlue Airways will report full-year sales of $1.76 billion for the current year, with estimates ranging from $7.62 billion to $7.75 billion. For the next year, analysts forecast that the business will report sales of $8.34 billion per share, with estimates ranging from $8.24 billion to $8.47 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow JetBlue Airways.
JetBlue Airways (NASDAQ:JBLU) last issued its earnings results on Thursday, January 25th. The transportation company reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.02). The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. JetBlue Airways had a net margin of 16.35% and a return on equity of 13.57%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.50 EPS.
In other news, VP Alexander Chatkewitz sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $22.58, for a total value of $67,740.00. Following the transaction, the vice president now owns 3,096 shares in the company, valued at approximately $69,907.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robin Hayes sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $20.32, for a total value of $40,640.00. Following the completion of the transaction, the chief executive officer now owns 426,069 shares in the company, valued at approximately $8,657,722.08. The disclosure for this sale can be found here. Insiders have sold a total of 17,000 shares of company stock valued at $365,420 in the last quarter. Company insiders own 0.60% of the company’s stock.
Several large investors have recently bought and sold shares of JBLU. New York State Common Retirement Fund raised its holdings in shares of JetBlue Airways by 36.9% in the 3rd quarter. New York State Common Retirement Fund now owns 1,009,389 shares of the transportation company’s stock worth $18,704,000 after purchasing an additional 272,003 shares during the period. Legal & General Group Plc raised its holdings in JetBlue Airways by 8.8% during the 3rd quarter. Legal & General Group Plc now owns 260,874 shares of the transportation company’s stock valued at $4,834,000 after acquiring an additional 21,209 shares during the period. Wells Fargo & Company MN raised its holdings in JetBlue Airways by 5.8% during the 3rd quarter. Wells Fargo & Company MN now owns 388,466 shares of the transportation company’s stock valued at $7,199,000 after acquiring an additional 21,242 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in JetBlue Airways by 7.6% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,164,645 shares of the transportation company’s stock valued at $21,581,000 after acquiring an additional 81,828 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in JetBlue Airways by 2.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 11,295,104 shares of the transportation company’s stock valued at $209,297,000 after acquiring an additional 259,499 shares during the period. 91.03% of the stock is currently owned by institutional investors.
Shares of JBLU stock traded down $0.01 during trading hours on Friday, reaching $19.47. The company’s stock had a trading volume of 3,597,128 shares, compared to its average volume of 4,942,280. The company has a market cap of $6,335.50, a PE ratio of 11.30, a P/E/G ratio of 0.57 and a beta of 0.55. JetBlue Airways has a fifty-two week low of $18.05 and a fifty-two week high of $24.13. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.48 and a current ratio of 0.50.
JetBlue Airways declared that its board has initiated a share repurchase plan on Wednesday, December 13th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the transportation company to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.
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About JetBlue Airways
JetBlue Airways Corporation is a passenger carrier company. The Company provides air transportation services across the United States, the Caribbean and Latin America. Its segments include Domestic, and Caribbean & Latin America. It operates various kinds of aircrafts, including Airbus A321, Airbus A320 and Embraer E190.
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