There’s a lot to be optimistic about in the Conglomerates sector as 2 analysts just weighed in on HC2 Holdings (HCHC) and Mesa Air Group Inc (MESA) with bullish sentiments.
HC2 Holdings (HCHC)
In a report released today, Sarkis Sherbetchyan from B.Riley FBR reiterated a Buy rating on HC2 Holdings, with a price target of $13. The company’s shares closed yesterday at $2.09, close to its 52-week low of $1.90.
Sherbetchyan said:
“Buy-rated HC2 Holdings (HCHC, $13 PT) reported 2Q revenues/adjusted EBITDA of $430M/ $35M from its core operating subsidiaries, exceeding our estimates of $400M/$25M. The strength was primarily attributable to the construction and marine services segments (the dominant generators of operating performance for HCHC), even though management has not provided FY19 guidance for the marine services segment, which is in a sales process, HCHC maintained FY19 adjusted EBITDA guidance of $75M–$80M for the construction segment. We remain encouraged by the backlogs for both the construction and marine services segments, which stood at $468M and $406M, respectively.”
According to TipRanks.com, Sherbetchyan has 0 stars on 0-5 star ranking scale with an average return of -6.3% and a 37.1% success rate. Sherbetchyan covers the Consumer Goods sector, focusing on stocks such as Vishay Precision Group, S&W Seed Company, and Ferroglobe PLC.
HC2 Holdings has an analyst consensus of Moderate Buy, with a price target consensus of $11.
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Mesa Air Group Inc (MESA)
B.Riley FBR analyst Scott Buck maintained a Buy rating on Mesa Air Group Inc yesterday and set a price target of $16. The company’s shares closed yesterday at $9.77.
Buck noted:
“Inc, (MESA) reported adj. 3Q19 EPS of $0.30, below our $0.59 estimate and below $0.55 for the Street. The miss was driven by operating challenges as three aircraft were out of service for almost the entirety of the quarter due to an on-ground damage incident and extended maintenance time due to a vendor labor shortage. In addition, the company was negatively impacted by an industry-wide avionics failure affecting CRJ-900 aircraft. This resulted in fewer block hours being flown in the quarter and failure to meet new performance criteria with American Airlines. Per the amended CPA, American Airlines is removing two CRJ-900 aircraft from the CPA effective November 2019.”
According to TipRanks.com, Buck is ranked #4911 out of 5247 analysts.
Mesa Air Group Inc has an analyst consensus of Moderate Buy, with a price target consensus of $16.
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