MercadoLibre, Inc. to Post Q3 2017 Earnings of $0.62 Per Share, KeyCorp Forecasts (MELI)
MercadoLibre, Inc. (NASDAQ:MELI) – Equities research analysts at KeyCorp reduced their Q3 2017 earnings estimates for shares of MercadoLibre in a research report issued on Sunday. KeyCorp analyst B. Erickson now anticipates that the company will post earnings of $0.62 per share for the quarter, down from their previous forecast of $1.08. KeyCorp currently has a “Buy” rating and a $290.00 target price on the stock. KeyCorp also issued estimates for MercadoLibre’s Q4 2017 earnings at $0.81 EPS, FY2017 earnings at $2.65 EPS, Q1 2018 earnings at $0.68 EPS, Q3 2018 earnings at $0.98 EPS, Q4 2018 earnings at $1.25 EPS and FY2018 earnings at $3.77 EPS.
MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, August 3rd. The company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.45). The business had revenue of $316.53 million for the quarter, compared to analysts’ expectations of $312.16 million. MercadoLibre had a return on equity of 37.59% and a net margin of 13.37%. The business’s quarterly revenue was up 58.6% on a year-over-year basis. During the same period last year, the company posted $0.74 earnings per share. ILLEGAL ACTIVITY NOTICE: This story was published by American Banking News and is the sole property of of American Banking News. If you are reading this story on another site, it was copied illegally and reposted in violation of U.S. and international copyright law. The legal version of this story can be read at https://www.americanbankingnews.com/2017/10/25/mercadolibre-inc-to-post-q3-2017-earnings-of-0-62-per-share-keycorp-forecasts-meli.html.
MELI has been the subject of several other reports. Susquehanna Bancshares Inc reiterated a “market perform” rating and set a $275.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 1st. Stifel Nicolaus reiterated a “buy” rating and set a $275.00 price objective on shares of MercadoLibre in a research report on Wednesday, October 4th. BidaskClub upgraded MercadoLibre from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Barclays PLC reduced their price objective on MercadoLibre from $300.00 to $290.00 and set an “overweight” rating for the company in a research report on Wednesday, July 19th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $268.00 price objective on shares of MercadoLibre in a research report on Monday. Two analysts have rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $257.69.
MercadoLibre (NASDAQ MELI) opened at 225.42 on Wednesday. MercadoLibre has a 52 week low of $148.98 and a 52 week high of $297.95. The stock’s 50 day moving average price is $264.02 and its 200-day moving average price is $261.39. The stock has a market capitalization of $9.95 billion, a P/E ratio of 69.08 and a beta of 2.03.
Large investors have recently made changes to their positions in the stock. Crosslink Capital Inc. bought a new stake in MercadoLibre during the second quarter worth approximately $2,316,000. AXA raised its holdings in MercadoLibre by 186.9% during the second quarter. AXA now owns 77,470 shares of the company’s stock worth $19,436,000 after purchasing an additional 50,470 shares in the last quarter. KBC Group NV raised its holdings in MercadoLibre by 54.2% during the second quarter. KBC Group NV now owns 5,082 shares of the company’s stock worth $1,275,000 after purchasing an additional 1,786 shares in the last quarter. Barings LLC bought a new stake in MercadoLibre during the first quarter worth approximately $218,000. Finally, Westpac Banking Corp raised its holdings in MercadoLibre by 774.0% during the second quarter. Westpac Banking Corp now owns 29,811 shares of the company’s stock worth $7,479,000 after purchasing an additional 26,400 shares in the last quarter. 84.79% of the stock is currently owned by hedge funds and other institutional investors.
The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Saturday, September 30th were issued a dividend of $0.15 per share. The ex-dividend date was Thursday, September 28th. This represents a $0.60 annualized dividend and a yield of 0.27%. MercadoLibre’s payout ratio is 18.40%.
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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