$0.80 Earnings Per Share Expected for MercadoLibre, Inc. (MELI) This Quarter
Brokerages forecast that MercadoLibre, Inc. (NASDAQ:MELI) will report $0.80 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for MercadoLibre’s earnings, with estimates ranging from $0.59 to $1.08. MercadoLibre posted earnings per share of $0.89 in the same quarter last year, which would suggest a negative year over year growth rate of 10.1%. The business is expected to report its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that MercadoLibre will report full-year earnings of $2.95 per share for the current year, with EPS estimates ranging from $2.65 to $3.51. For the next year, analysts expect that the company will report earnings of $4.90 per share, with EPS estimates ranging from $3.72 to $5.70. Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for MercadoLibre.
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 Thomson Reuters’ consensus estimate of $1.06 by $0.45. The company had revenue of $316.53 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS.
Several research firms recently commented on MELI. Credit Suisse Group boosted their target price on MercadoLibre from $260.00 to $290.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. BidaskClub cut MercadoLibre from a “buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Zacks Investment Research cut MercadoLibre from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Goldman Sachs Group, Inc. (The) cut MercadoLibre from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $309.00 to $290.00 in a research note on Tuesday, June 13th. Finally, Vetr raised MercadoLibre from a “buy” rating to a “strong-buy” rating and set a $316.69 target price for the company in a research note on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $261.69.
MercadoLibre (NASDAQ MELI) traded up 0.50% during trading on Friday, reaching $259.98. 342,537 shares of the company traded hands. MercadoLibre has a 52 week low of $148.98 and a 52 week high of $297.95. The company’s 50-day moving average price is $258.01 and its 200 day moving average price is $248.39. The firm has a market capitalization of $11.48 billion, a price-to-earnings ratio of 79.50 and a beta of 2.04.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Saturday, September 30th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.60 annualized dividend and a yield of 0.23%. MercadoLibre’s payout ratio is 18.40%.
Several large investors have recently added to or reduced their stakes in MELI. Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of MercadoLibre by 14.7% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 3,196 shares of the company’s stock worth $675,000 after acquiring an additional 410 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of MercadoLibre by 3.0% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,039 shares of the company’s stock worth $1,277,000 after acquiring an additional 176 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in shares of MercadoLibre by 5.3% during the 1st quarter. Great West Life Assurance Co. Can now owns 13,009 shares of the company’s stock worth $2,748,000 after acquiring an additional 654 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of MercadoLibre by 2.1% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 116,351 shares of the company’s stock worth $24,605,000 after acquiring an additional 2,356 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of MercadoLibre by 4.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 2,300 shares of the company’s stock worth $486,000 after acquiring an additional 100 shares in the last quarter. 85.83% of the stock is owned by institutional investors and hedge funds.
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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