Mesa Air Group, Inc. (NASDAQ:MESA) Expected to Announce Quarterly Sales of $128.25 Million

Wall Street brokerages expect Mesa Air Group, Inc. (NASDAQ:MESAGet Rating) to report $128.25 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Mesa Air Group’s earnings. The lowest sales estimate is $126.50 million and the highest is $130.00 million. Mesa Air Group posted sales of $125.16 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.5%. The business is expected to report its next earnings results on Monday, January 1st.

On average, analysts expect that Mesa Air Group will report full year sales of $527.58 million for the current fiscal year, with estimates ranging from $525.15 million to $530.00 million. For the next year, analysts anticipate that the firm will post sales of $574.04 million, with estimates ranging from $569.00 million to $579.07 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Mesa Air Group.

Mesa Air Group (NASDAQ:MESAGet Rating) last released its quarterly earnings data on Monday, May 9th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.02. Mesa Air Group had a negative net margin of 11.44% and a negative return on equity of 3.69%. The business had revenue of $123.21 million for the quarter, compared to the consensus estimate of $127.13 million. During the same period in the prior year, the firm earned $0.23 EPS. The business’s revenue for the quarter was up 26.7% on a year-over-year basis.

Several brokerages have recently issued reports on MESA. Zacks Investment Research raised shares of Mesa Air Group from a “sell” rating to a “hold” rating in a research report on Saturday. TheStreet cut shares of Mesa Air Group from a “c” rating to a “d+” rating in a research note on Friday, February 11th. Raymond James lowered shares of Mesa Air Group from an “outperform” rating to a “market perform” rating in a research report on Friday, February 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Mesa Air Group from $5.50 to $3.00 in a report on Wednesday, May 11th. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $8.38.

Mesa Air Group stock opened at $2.71 on Monday. The company has a quick ratio of 0.45, a current ratio of 0.48 and a debt-to-equity ratio of 1.21. Mesa Air Group has a 52-week low of $2.46 and a 52-week high of $11.57. The company has a fifty day simple moving average of $3.87 and a 200-day simple moving average of $5.25. The firm has a market capitalization of $97.92 million, a price-to-earnings ratio of -1.60 and a beta of 2.72.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada lifted its holdings in shares of Mesa Air Group by 5.9% during the 3rd quarter. Royal Bank of Canada now owns 21,443 shares of the company’s stock valued at $165,000 after buying an additional 1,200 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Mesa Air Group by 4.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 35,951 shares of the company’s stock valued at $275,000 after acquiring an additional 1,414 shares in the last quarter. Citigroup Inc. increased its position in Mesa Air Group by 123.0% in the 3rd quarter. Citigroup Inc. now owns 3,640 shares of the company’s stock worth $28,000 after buying an additional 2,008 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in Mesa Air Group by 10.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 22,251 shares of the company’s stock worth $125,000 after buying an additional 2,022 shares during the period. Finally, Pinnacle Holdings LLC increased its position in Mesa Air Group by 3.7% in the 3rd quarter. Pinnacle Holdings LLC now owns 91,319 shares of the company’s stock worth $700,000 after buying an additional 3,292 shares during the period. Hedge funds and other institutional investors own 52.41% of the company’s stock.

About Mesa Air Group (Get Rating)

Mesa Air Group, Inc operates as the holding company for Mesa Airlines, Inc that provides regional air carrier services under capacity purchase agreements with the American Airlines and the United Airlines. It also engages in leasing aircrafts to third parties. As of September 30, 2021, the company operated a fleet of 167 aircraft, which include 153 owned aircrafts and 14 leased aircrafts with approximately 507 daily departures to 129 cities in the United States and Mexico.

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