These Analysts Cut Their Forecasts On J.B. Hunt Following Downbeat Earnings
Portfolio Pulse from Avi Kapoor
J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) reported lower than expected first-quarter 2024 results, with a 9% year-over-year decrease in operating revenue to $2.94 billion and EPS of $1.22, missing consensus estimates. The decline was attributed to reduced revenue per load and fewer loads in key segments. Following the earnings report, B of A Securities and Stephens & Co. lowered their price targets on JBHT, though both maintained positive ratings. The company also repurchased $25 million in shares and reported $64 million in cash and cash equivalents.
April 17, 2024 | 11:33 am
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NEGATIVE IMPACT
J.B. Hunt reported disappointing Q1 2024 results with a significant drop in revenue and EPS, leading to lowered price targets by analysts despite maintaining positive ratings.
The negative earnings report and subsequent lowering of price targets by analysts indicate a bearish short-term outlook for JBHT. The missed revenue and EPS benchmarks, coupled with the reduction in price targets, are likely to impact investor sentiment negatively, despite the maintained positive ratings.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100