Zacks Investment Research Lowers Mesa Air Group (NASDAQ:MESA) to Strong Sell

Share on StockTwits

Zacks Investment Research downgraded shares of Mesa Air Group (NASDAQ:MESA) from a hold rating to a strong sell rating in a report released on Thursday morning, Zacks.com reports.

According to Zacks, “Mesa Air Group, Inc. provides airlines services. The Company offers passenger transportation and regional air services. Mesa Air Group, Inc. is based in Phoenix, Arizona. “

Several other research firms also recently commented on MESA. B. Riley started coverage on shares of Mesa Air Group in a report on Friday, July 12th. They set a buy rating and a $16.00 price objective for the company. Cowen reissued an outperform rating and set a $9.00 price objective (down previously from $12.00) on shares of Mesa Air Group in a report on Monday, August 12th. Stifel Nicolaus set a $10.00 price target on shares of Mesa Air Group and gave the company a buy rating in a report on Monday, August 12th. Finally, ValuEngine downgraded shares of Mesa Air Group from a hold rating to a sell rating in a report on Thursday, August 1st. Two 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 company’s stock. The stock has a consensus rating of Buy and a consensus price target of $13.86.

MESA opened at $6.14 on Thursday. The firm has a 50-day simple moving average of $9.22 and a two-hundred day simple moving average of $9.21. Mesa Air Group has a 52 week low of $5.35 and a 52 week high of $16.41. The company has a market capitalization of $183.14 million and a PE ratio of 2.97. The company has a quick ratio of 0.62, a current ratio of 0.64 and a debt-to-equity ratio of 1.74.

Mesa Air Group (NASDAQ:MESA) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.25). Mesa Air Group had a net margin of 7.68% and a return on equity of 16.32%. The company had revenue of $180.22 million for the quarter, compared to the consensus estimate of $182.91 million. During the same period last year, the company earned $0.37 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, sell-side analysts expect that Mesa Air Group will post 1.82 earnings per share for the current year.

Several large investors have recently made changes to their positions in MESA. BlackRock Inc. lifted its position in shares of Mesa Air Group by 9.3% during the 4th quarter. BlackRock Inc. now owns 730,969 shares of the company’s stock valued at $5,636,000 after acquiring an additional 62,402 shares during the period. Northern Trust Corp lifted its position in shares of Mesa Air Group by 4.6% during the 4th quarter. Northern Trust Corp now owns 118,776 shares of the company’s stock valued at $915,000 after acquiring an additional 5,186 shares during the period. Geode Capital Management LLC lifted its position in shares of Mesa Air Group by 35.0% during the 4th quarter. Geode Capital Management LLC now owns 102,440 shares of the company’s stock valued at $789,000 after acquiring an additional 26,573 shares during the period. FMR LLC lifted its position in shares of Mesa Air Group by 88.5% during the 4th quarter. FMR LLC now owns 322,300 shares of the company’s stock valued at $2,485,000 after acquiring an additional 151,300 shares during the period. Finally, Rhumbline Advisers lifted its position in shares of Mesa Air Group by 14.3% during the 1st quarter. Rhumbline Advisers now owns 13,667 shares of the company’s stock valued at $114,000 after acquiring an additional 1,707 shares during the period. 67.34% of the stock is owned by hedge funds and other institutional investors.

Mesa Air Group Company Profile

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.

Featured Story: How are Outstanding Shares Different from Authorized Shares?

Get a free copy of the Zacks research report on Mesa Air Group (MESA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.