MercadoLibre, Inc. (MELI) Forecasted to Post Q3 2017 Earnings of $1.08 Per Share
MercadoLibre, Inc. (NASDAQ:MELI) – Analysts at KeyCorp decreased their Q3 2017 earnings per share (EPS) estimates for shares of MercadoLibre in a report issued on Friday. KeyCorp analyst B. Erickson now anticipates that the company will earn $1.08 per share for the quarter, down from their previous estimate of $1.27. KeyCorp also issued estimates for MercadoLibre’s Q4 2017 earnings at $1.21 EPS, Q3 2018 earnings at $1.61 EPS and Q4 2018 earnings at $1.71 EPS.
A number of other brokerages also recently commented on MELI. J P Morgan Chase & Co downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $296.24 to $300.00 in a research report on Tuesday, May 16th. Bank of America Corporation lifted their target price 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. Susquehanna Bancshares Inc reiterated a “market perform” rating and issued a $275.00 target price on shares of MercadoLibre in a research note on Tuesday, August 1st. Credit Suisse Group lifted their target price on shares of MercadoLibre from $260.00 to $290.00 and gave the company an “outperform” rating in a research note on Monday, May 15th. Finally, Barclays PLC reduced their target price on shares of MercadoLibre from $300.00 to $290.00 and set an “overweight” rating for the company in a research note on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. MercadoLibre presently has a consensus rating of “Hold” and an average target price of $259.91.
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MercadoLibre (MELI) opened at 260.47 on Monday. MercadoLibre has a 52 week low of $148.98 and a 52 week high of $297.95. The stock has a market cap of $11.50 billion, a P/E ratio of 74.38 and a beta of 2.05. The stock has a 50 day moving average of $270.73 and a 200-day moving average of $237.44.
MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.06 by $0.45. The company had revenue of $316.53 million for the quarter, compared to analysts’ expectations of $312.16 million. MercadoLibre had a return on equity of 38.10% and a net margin of 13.37%. The business’s revenue for the quarter was up 58.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.74 EPS.
A number of institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC boosted its position in MercadoLibre by 45.9% in the second quarter. Jennison Associates LLC now owns 779,039 shares of the company’s stock valued at $195,445,000 after buying an additional 245,213 shares during the last quarter. 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 last quarter. Ardevora Asset Management LLP bought a new position in MercadoLibre during the second quarter valued at approximately $42,599,000. Whale Rock Capital Management LLC bought a new position in MercadoLibre during the first quarter valued at approximately $30,322,000. Finally, Clearbridge Investments LLC boosted its position in MercadoLibre by 25.2% in the first quarter. Clearbridge Investments LLC now owns 570,066 shares of the company’s stock valued at $120,552,000 after buying an additional 114,824 shares during the last quarter. Hedge funds and other institutional investors own 91.95% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Saturday, September 30th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date is Thursday, September 28th. MercadoLibre’s payout ratio is 18.40%.
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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