These Analysts Cut Their Forecasts On J.B. Hunt Following Downbeat Earnings

J.B. Hunt Transport Services, Inc. JBHT reported downbeat first-quarter 2024 results on Tuesday.

Operating revenue fell 9% Y/Y to $2.94 billion, missing the consensus of $3.12 billion. EPS of $1.22 missed the consensus of $1.52, according to data from Benzinga Pro.

The decline in revenue was due to a 9% decrease in segment gross revenue per load in both Intermodal (JBI) and Truckload (JBT), 22% fewer loads in Integrated Capacity Solutions (ICS), and a modest decline in average trucks and productivity in Dedicated Contract Services (DCS).

In the first quarter of 2024, the company repurchased shares worth $25 million. As of March 31, 2024, J.B. Hunt had around $366 million remaining under its share repurchase authorization.

As of March 31, 2024, the company had cash and cash equivalents of $64 million.

J.B. Hunt Transport shares fell 1.1% to close at $182.99 on Tuesday.

These analysts made changes to their price targets on J.B. Hunt Transport following earnings announcement.

  • B of A Securities cut the price target on J.B. Hunt Transport from $215 to $199. B of A Securities analyst Ken Hoexter maintained a Buy rating.
  • Stephens & Co. slashed the price target on J.B. Hunt Transport from $210 to $192. Stephens & Co. analyst Justin Long maintained an Overweight rating.


Read This Next: Abbott Laboratories, U.S. Bancorp And 3 Stocks To Watch Heading Into Wednesday

Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPrice TargetMarketsAnalyst RatingsTrading IdeasPT Changes
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!