Mesa Air Group (NASDAQ:MESA) Stock Rating Reaffirmed by Cowen

Share on StockTwits

Cowen restated their outperform rating on shares of Mesa Air Group (NASDAQ:MESA) in a research note published on Monday morning, Briefing.com Automated Import reports. The firm currently has a $9.00 target price on the stock, down from their prior target price of $12.00.

A number of other equities analysts have also recently issued reports on MESA. Zacks Investment Research cut Mesa Air Group from a hold rating to a sell rating in a report on Tuesday, July 16th. B. Riley assumed coverage on Mesa Air Group in a report on Friday, July 12th. They issued a buy rating and a $16.00 price objective for the company. Finally, ValuEngine cut Mesa Air Group from a hold rating to a sell rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $13.86.

MESA opened at $5.83 on Monday. The stock has a 50-day moving average price of $9.29 and a 200-day moving average price of $9.22. Mesa Air Group has a 12-month low of $5.35 and a 12-month high of $16.41. The company has a current ratio of 0.71, a quick ratio of 0.62 and a debt-to-equity ratio of 1.70. The stock has a market capitalization of $174.76 million and a P/E ratio of 4.74.

Mesa Air Group (NASDAQ:MESA) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.25). Mesa Air Group had a return on equity of 16.52% and a net margin of 7.68%. The firm had revenue of $180.22 million during the quarter, compared to analysts’ expectations of $182.91 million. During the same quarter in the previous year, the company posted $0.37 earnings per share. Mesa Air Group’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities research analysts predict that Mesa Air Group will post 1.82 EPS for the current year.

Hedge funds have recently modified their holdings of the stock. Citadel Advisors LLC increased its position in Mesa Air Group by 8.4% during the 2nd quarter. Citadel Advisors LLC now owns 565,382 shares of the company’s stock valued at $5,168,000 after buying an additional 43,756 shares in the last quarter. D. E. Shaw & Co. Inc. increased its position in Mesa Air Group by 704.1% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 142,955 shares of the company’s stock valued at $1,307,000 after buying an additional 125,176 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in Mesa Air Group by 88.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 42,987 shares of the company’s stock valued at $393,000 after buying an additional 20,186 shares in the last quarter. Marshall Wace LLP increased its position in Mesa Air Group by 22.5% during the 2nd quarter. Marshall Wace LLP now owns 333,220 shares of the company’s stock valued at $3,046,000 after buying an additional 61,094 shares in the last quarter. Finally, Marshall Wace North America L.P. increased its position in Mesa Air Group by 332.6% during the 2nd quarter. Marshall Wace North America L.P. now owns 103,757 shares of the company’s stock valued at $948,000 after buying an additional 79,771 shares in the last quarter. Institutional investors own 67.34% of the company’s stock.

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.

See Also: What is Compound Interest?

Analyst Recommendations for Mesa Air Group (NASDAQ:MESA)

Receive News & Ratings for Mesa Air Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mesa Air Group and related companies with MarketBeat.com's FREE daily email newsletter.