Zacks: Analysts Anticipate MercadoLibre, Inc. (MELI) to Announce $0.80 Earnings Per Share
Brokerages expect MercadoLibre, Inc. (NASDAQ:MELI) to announce earnings of $0.80 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for MercadoLibre’s earnings. The highest EPS estimate is $1.08 and the lowest is $0.59. MercadoLibre reported earnings of $0.89 per share in the same quarter last year, which would suggest a negative year over year growth rate of 10.1%. The firm is expected to issue its next earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that MercadoLibre will report full year earnings of $2.96 per share for the current financial year, with EPS estimates ranging from $2.65 to $3.51. For the next fiscal year, analysts forecast that the firm will report earnings of $4.90 per share, with EPS estimates ranging from $3.72 to $5.70. Zacks’ EPS averages are a mean average based on a survey of research firms that cover MercadoLibre.
MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, August 3rd. The company reported $0.61 EPS for the quarter, missing the Zacks’ consensus estimate of $1.06 by $0.45. The firm had revenue of $316.53 million during the quarter, compared to analysts’ expectations of $312.16 million. MercadoLibre had a net margin of 13.37% and a return on equity of 37.59%. MercadoLibre’s quarterly revenue was up 58.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 EPS.
A number of research firms have recently weighed in on MELI. J P Morgan Chase & Co cut MercadoLibre from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $296.24 to $300.00 in a report on Tuesday, May 16th. Bank of America Corporation boosted their price target on MercadoLibre from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, May 25th. Susquehanna Bancshares Inc reissued a “market perform” rating and issued a $275.00 price target on shares of MercadoLibre in a report on Tuesday, August 1st. Credit Suisse Group boosted their price target on MercadoLibre from $260.00 to $290.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. Finally, Barclays PLC cut their price target on MercadoLibre from $300.00 to $290.00 and set an “overweight” rating for the company in a report on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. MercadoLibre has a consensus rating of “Hold” and a consensus target price of $261.69.
Shares of MercadoLibre (NASDAQ MELI) traded up 0.55% during midday trading on Tuesday, reaching $243.29. The company had a trading volume of 756,151 shares. The company’s 50 day moving average price is $264.20 and its 200 day moving average price is $243.95. The stock has a market capitalization of $10.74 billion, a PE ratio of 74.56 and a beta of 2.05. MercadoLibre has a 52-week low of $148.98 and a 52-week high of $297.95.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Saturday, September 30th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date is Thursday, September 28th. MercadoLibre’s dividend payout ratio (DPR) is presently 18.40%.
Large investors have recently modified their holdings of the company. Bank of Montreal Can increased its stake in shares of MercadoLibre by 22.3% in the first quarter. Bank of Montreal Can now owns 20,475 shares of the company’s stock valued at $4,331,000 after buying an additional 3,739 shares during the last quarter. Navellier & Associates Inc bought a new stake in shares of MercadoLibre during the first quarter valued at $510,000. Mn Services Vermogensbeheer B.V. increased its stake in shares of MercadoLibre by 3.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,060 shares of the company’s stock valued at $210,000 after buying an additional 31 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of 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. Finally, Shell Asset Management Co. increased its stake in shares of MercadoLibre by 10.6% in the first quarter. Shell Asset Management Co. now owns 10,544 shares of the company’s stock valued at $2,230,000 after buying an additional 1,013 shares during the last quarter. 92.41% of the stock is owned by institutional investors.
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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