Stifel Nicolaus set a $10.00 price objective on Mesa Air Group (NASDAQ:MESA) in a report issued on Monday, TipRanks reports. The brokerage currently has a buy rating on the stock.
Several other brokerages have also recently commented on MESA. B. Riley initiated coverage on Mesa Air Group in a research note on Friday, July 12th. They issued a buy rating and a $16.00 price target for the company. Zacks Investment Research cut Mesa Air Group from a hold rating to a sell rating in a research note on Tuesday, July 16th. ValuEngine cut Mesa Air Group from a hold rating to a sell rating in a research note on Thursday, August 1st. Finally, Cowen reissued an outperform rating and issued a $9.00 price target (down previously from $12.00) on shares of Mesa Air Group in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $13.86.
Shares of NASDAQ MESA opened at $5.83 on Monday. The stock has a market cap of $174.76 million and a price-to-earnings ratio of 4.74. The business has a 50 day simple moving average of $9.29 and a 200 day simple moving average of $9.22. Mesa Air Group has a 52 week low of $5.35 and a 52 week high of $16.41. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.62 and a current ratio of 0.71.
Mesa Air Group (NASDAQ:MESA) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.25). The firm had revenue of $180.22 million during the quarter, compared to the consensus estimate of $182.91 million. Mesa Air Group had a net margin of 7.68% and a return on equity of 16.52%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.37 EPS. On average, analysts predict that Mesa Air Group will post 1.82 EPS for the current year.
A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in Mesa Air Group by 68.8% during the second quarter. BlackRock Inc. now owns 1,356,556 shares of the company’s stock worth $12,400,000 after purchasing an additional 552,817 shares during the period. Axar Capital Management L.P. bought a new stake in Mesa Air Group during the first quarter worth approximately $11,090,000. Bank of New York Mellon Corp boosted its position in Mesa Air Group by 2.4% during the second quarter. Bank of New York Mellon Corp now owns 904,956 shares of the company’s stock worth $8,271,000 after purchasing an additional 20,784 shares during the period. Vanguard Group Inc. boosted its position in Mesa Air Group by 13.1% during the second quarter. Vanguard Group Inc. now owns 887,327 shares of the company’s stock worth $8,110,000 after purchasing an additional 102,519 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Mesa Air Group by 2.2% during the first quarter. JPMorgan Chase & Co. now owns 862,869 shares of the company’s stock worth $7,197,000 after purchasing an additional 18,703 shares during the period. 67.34% of the stock is owned by hedge funds and other institutional investors.
About Mesa Air Group
Mesa Air Group, Inc operates as the holding company for Mesa Airlines, Inc, which provides regional air carrier services under capacity purchase agreements with the American Airlines and the United Airlines. As of September 30, 2018, it operated a fleet of 145 aircraft with approximately 730 daily departures to 110 cities in the United States, Canada, Mexico, Cuba, and the Bahamas.
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