MercadoLibre’s (MELI) “Neutral” Rating Reaffirmed at Citigroup Inc.
MercadoLibre, Inc. (NASDAQ:MELI)‘s stock had its “neutral” rating restated by Citigroup Inc. in a report released on Friday.
Other analysts have also recently issued research reports about the stock. Bank of America Corporation increased their price target on shares of MercadoLibre from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, May 25th. J P Morgan Chase & Co lowered shares of MercadoLibre from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $296.24 to $300.00 in a research report on Tuesday, May 16th. Susquehanna Bancshares Inc reissued a “neutral” rating and issued a $275.00 price objective (up from $213.00) on shares of MercadoLibre in a research report on Tuesday, May 9th. Barclays PLC raised their price target on shares of MercadoLibre from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, June 9th. Finally, Stifel Nicolaus raised their price target on shares of MercadoLibre from $185.00 to $220.00 and gave the stock a “hold” rating in a research report on Friday, February 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $249.50.
Shares of MercadoLibre (MELI) opened at 275.75 on Friday. MercadoLibre has a 52 week low of $126.10 and a 52 week high of $297.95. The firm’s 50 day moving average is $275.17 and its 200-day moving average is $214.69. The firm has a market cap of $12.18 billion, a price-to-earnings ratio of 78.74 and a beta of 2.01.
MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, May 4th. The company reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.32. MercadoLibre had a net margin of 16.10% and a return on equity of 41.12%. The business had revenue of $273.90 million during the quarter, compared to analysts’ expectations of $247.85 million. During the same quarter in the prior year, the company posted $0.68 earnings per share. The firm’s revenue was up 73.8% on a year-over-year basis. Equities research analysts predict that MercadoLibre will post $4.71 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Friday, June 30th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $0.60 annualized dividend and a dividend yield of 0.22%. MercadoLibre’s dividend payout ratio is currently 17.14%.
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A number of hedge funds have recently made changes to their positions in the stock. Beacon Capital Management acquired a new stake in shares of MercadoLibre during the fourth quarter worth approximately $0. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new stake in shares of MercadoLibre during the first quarter worth approximately $106,000. Van ECK Associates Corp acquired a new stake in shares of MercadoLibre during the fourth quarter worth approximately $107,000. IFP Advisors Inc raised its stake in shares of MercadoLibre 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. Finally, Creative Planning raised its stake in shares of MercadoLibre by 18.4% in the second quarter. Creative Planning now owns 1,126 shares of the company’s stock worth $158,000 after buying an additional 175 shares during the period. Institutional investors and hedge funds own 91.28% of the company’s stock.
MercadoLibre Company Profile
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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