MercadoLibre SA (NASDAQ:MELI) Receives Consensus Rating of “Buy” from Brokerages
MercadoLibre SA (NASDAQ:MELI) has been assigned an average rating of “Buy” from the ten analysts that are currently covering the company. Four research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $162.88.
MELI has been the topic of several research reports. Piper Jaffray Cos. restated an “overweight” rating and set a $185.00 price objective on shares of MercadoLibre SA in a research report on Tuesday, August 30th. JPMorgan Chase & Co. upgraded shares of MercadoLibre SA from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $173.68 to $200.00 in a research report on Friday, September 2nd. Goldman Sachs Group Inc. initiated coverage on shares of MercadoLibre SA in a research report on Tuesday, August 9th. They set a “neutral” rating and a $170.00 price objective on the stock. Zacks Investment Research upgraded shares of MercadoLibre SA from a “hold” rating to a “strong-buy” rating and set a $212.00 price objective on the stock in a research report on Wednesday. Finally, Stifel Nicolaus raised their price objective on shares of MercadoLibre SA from $150.00 to $180.00 and gave the company a “hold” rating in a research report on Thursday.
MercadoLibre SA (NASDAQ:MELI) traded up 1.96% during trading on Friday, reaching $189.94. 216,071 shares of the company traded hands. MercadoLibre SA has a 12-month low of $84.19 and a 12-month high of $191.76. The firm’s 50 day moving average price is $178.34 and its 200 day moving average price is $147.07. The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of 64.17 and a beta of 2.08.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/07/mercadolibre-sa-nasdaqmeli-receives-consensus-rating-of-buy-from-brokerages.html
MercadoLibre SA (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by $0.23. The company had revenue of $199.60 million for the quarter, compared to analysts’ expectations of $180.94 million. MercadoLibre SA had a net margin of 18.50% and a return on equity of 38.04%. The business’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 EPS. Equities research analysts expect that MercadoLibre SA will post $2.76 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Wednesday, September 28th. MercadoLibre SA’s dividend payout ratio (DPR) is presently 20.34%.
In other MercadoLibre SA news, EVP Daniel Rabinovich sold 6,195 shares of the firm’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $166.61, for a total value of $1,032,148.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director A Michael Spence sold 3,451 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $168.97, for a total transaction of $583,115.47. Following the completion of the sale, the director now directly owns 6,903 shares in the company, valued at approximately $1,166,399.91. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in MELI. Eqis Capital Management Inc. raised its stake in shares of MercadoLibre SA by 17.9% in the third quarter. Eqis Capital Management Inc. now owns 4,273 shares of the company’s stock worth $790,000 after buying an additional 650 shares during the period. Macquarie Group Ltd. raised its stake in shares of MercadoLibre SA by 70.9% in the second quarter. Macquarie Group Ltd. now owns 21,019 shares of the company’s stock worth $2,957,000 after buying an additional 8,719 shares during the period. IFP Advisors Inc raised its stake in shares of MercadoLibre SA by 8.8% in the second quarter. IFP Advisors Inc now owns 765 shares of the company’s stock worth $108,000 after buying an additional 62 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of MercadoLibre SA by 22.0% in the second quarter. Public Employees Retirement System of Ohio now owns 102,277 shares of the company’s stock worth $14,387,000 after buying an additional 18,411 shares during the period. Finally, Perigon Wealth Management LLC raised its stake in shares of MercadoLibre SA by 6.8% in the second quarter. Perigon Wealth Management LLC now owns 4,444 shares of the company’s stock worth $626,000 after buying an additional 282 shares during the period. 74.01% of the stock is currently owned by institutional investors and hedge funds.
MercadoLibre SA Company Profile
MercadoLibre, Inc (MercadoLibre) hosts an online commerce platform in Latin America, which is focused on enabling e-commerce and its related services. The Company provides a portfolio of services facilitating e-commerce transactions. Its geographic segments are Brazil, Argentina, Mexico, Venezuela and other countries (including Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Portugal, Guatemala, Bolivia, Paraguay, Uruguay and the United States of America.
Receive News & Ratings for MercadoLibre SA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MercadoLibre SA and related companies with MarketBeat.com's FREE daily email newsletter.