Zacks Upgrades Mercadolibre to Outperform (MELI)
Mercadolibre (NASDAQ:MELI) was upgraded by Zacks from an “underperform” rating to an “outperform” rating in a research report issued on Thursday. The firm currently has a $115.30 price target on the stock. Zacks‘s price target indicates a potential upside of 1.77% from the stock’s previous close.
Shares of Mercadolibre (NASDAQ:MELI) traded up 0.47% on Thursday, hitting $113.80. 265,198 shares of the company’s stock traded hands. Mercadolibre has a 52-week low of $79.52 and a 52-week high of $145.99. The stock has a 50-day moving average of $96.45 and a 200-day moving average of $92.30. The company has a market cap of $5.025 billion and a P/E ratio of 66.83.
Mercadolibre (NASDAQ:MELI) last announced its earnings results on Thursday, August 7th. The company reported $0.72 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.56 by $0.16. The company had revenue of $131.80 million for the quarter, compared to the consensus estimate of $110.02 million. During the same quarter in the prior year, the company posted $0.67 earnings per share. The company’s quarterly revenue was up 17.5% on a year-over-year basis. Analysts expect that Mercadolibre will post $1.59 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.166 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Friday, September 26th.
Several other analysts have also recently commented on the stock. Analysts at Stifel Nicolaus initiated coverage on shares of Mercadolibre in a research note on Wednesday, August 13th. They set a “buy” rating and a $130.00 price target on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of Mercadolibre from $72.00 to $93.00 in a research note on Friday, August 8th. Finally, analysts at Piper Jaffray raised their price target on shares of Mercadolibre from $104.00 to $137.00 in a research note on Friday, August 8th. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Mercadolibre presently has a consensus rating of “Hold” and an average target price of $106.03.
MercadoLibre Inc is an Argentina-based company active in the e-commerce industy. The Company hosts the online commerce platform in Latin America, focused on enabling e-commerce and its related services, and is located at www.
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