Brokerages Anticipate MercadoLibre, Inc. (MELI) to Post $1.08 EPS
Brokerages predict that MercadoLibre, Inc. (NASDAQ:MELI) will report $1.08 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have made estimates for MercadoLibre’s earnings. The highest EPS estimate is $1.19 and the lowest is $0.86. MercadoLibre reported earnings per share of $0.74 during the same quarter last year, which would indicate a positive year over year growth rate of 45.9%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Thursday, August 3rd.
On average, analysts expect that MercadoLibre will report full year earnings of $4.67 per share for the current year, with EPS estimates ranging from $4.14 to $5.05. For the next fiscal year, analysts anticipate that the company will post earnings of $6.61 per share, with EPS estimates ranging from $5.75 to $7.21. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover MercadoLibre.
MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, May 4th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.78 by $0.32. The business had revenue of $273.90 million for the quarter, compared to the consensus estimate of $247.85 million. MercadoLibre had a return on equity of 41.12% and a net margin of 16.10%. The company’s revenue was up 73.8% on a year-over-year basis. During the same period last year, the business posted $0.68 EPS.
MELI has been the subject of several recent analyst reports. J P Morgan Chase & Co set a $250.00 price target on MercadoLibre and gave the stock a “buy” rating in a research note on Monday, March 20th. Credit Suisse Group upped their price target on MercadoLibre from $260.00 to $290.00 and gave the stock an “outperform” rating in a research note on Friday, May 5th. Cowen and Company upped their price target on MercadoLibre from $192.00 to $211.00 and gave the stock a “market perform” rating in a research note on Friday, February 24th. Barclays PLC reiterated a “buy” rating and set a $275.00 price target on shares of MercadoLibre in a research note on Sunday, May 7th. Finally, Stifel Nicolaus upped their price target on MercadoLibre from $185.00 to $220.00 and gave the stock a “hold” rating in a research note on Friday, February 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $249.50.
Institutional investors have recently bought and sold shares of the stock. Orbis Allan Gray Ltd boosted its position in MercadoLibre by 105.1% in the fourth quarter. Orbis Allan Gray Ltd now owns 1,360,358 shares of the company’s stock valued at $212,407,000 after buying an additional 697,057 shares during the period. Norges Bank purchased a new position in MercadoLibre during the fourth quarter valued at approximately $36,985,000. State Street Corp boosted its position in MercadoLibre by 671.4% in the fourth quarter. State Street Corp now owns 245,853 shares of the company’s stock valued at $38,391,000 after buying an additional 213,980 shares during the period. Acadian Asset Management LLC boosted its position in MercadoLibre by 449.3% in the first quarter. Acadian Asset Management LLC now owns 231,597 shares of the company’s stock valued at $48,975,000 after buying an additional 189,432 shares during the period. Finally, Whale Rock Capital Management LLC purchased a new position in MercadoLibre during the first quarter valued at approximately $30,322,000. 91.28% of the stock is owned by hedge funds and other institutional investors.
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Shares of MercadoLibre (NASDAQ MELI) traded up 4.22% during midday trading on Monday, hitting $274.57. The company had a trading volume of 372,727 shares. The company’s 50 day moving average is $272.84 and its 200 day moving average is $212.15. MercadoLibre has a one year low of $126.10 and a one year high of $297.95. The firm has a market cap of $12.12 billion, a price-to-earnings ratio of 78.40 and a beta of 2.01.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $0.60 annualized dividend and a yield of 0.23%. MercadoLibre’s dividend payout ratio (DPR) is 17.14%.
MercadoLibre, Inc is an e-commerce company. The Company enables commerce through its marketplace platform in Latin America, which is designed to provide users with a portfolio of services to facilitate commercial transactions. Its geographic segments are Brazil, Argentina, Mexico Venezuela and Other Countries (which includes Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Portugal, Guatemala, Bolivia, Paraguay, Uruguay and the United States of America).
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