Equities research analysts expect that Mercadolibre Inc (NASDAQ:MELI) will announce sales of $491.48 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Mercadolibre’s earnings, with the lowest sales estimate coming in at $476.43 million and the highest estimate coming in at $505.40 million. Mercadolibre posted sales of $335.38 million during the same quarter last year, which suggests a positive year-over-year growth rate of 46.5%. The company is expected to announce its next quarterly earnings report on Wednesday, August 14th.
According to Zacks, analysts expect that Mercadolibre will report full year sales of $2.10 billion for the current financial year, with estimates ranging from $1.98 billion to $2.21 billion. For the next year, analysts anticipate that the business will post sales of $2.92 billion, with estimates ranging from $2.74 billion to $3.19 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover Mercadolibre.
Mercadolibre (NASDAQ:MELI) last released its earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.14. The firm had revenue of $474.00 million for the quarter, compared to analyst estimates of $423.19 million. Mercadolibre had a negative return on equity of 1.55% and a negative net margin of 0.74%. The company’s revenue was up 47.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.29) EPS.
A number of brokerages have commented on MELI. Barclays reiterated a “buy” rating on shares of Mercadolibre in a research report on Sunday, May 5th. Zacks Investment Research upgraded Mercadolibre from a “hold” rating to a “buy” rating and set a $608.00 price objective for the company in a research report on Friday, May 10th. Susquehanna Bancshares upgraded Mercadolibre from a “negative” rating to a “neutral” rating in a research report on Friday, May 3rd.
BTIG Research reiterated a “buy” rating and issued a $410.00 price objective on shares of Mercadolibre in a research report on Wednesday, January 16th. Finally, BidaskClub downgraded Mercadolibre from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $481.07.
In related news, Director Emiliano Calemzuk bought 120 shares of the business’s stock in a transaction that occurred on Saturday, March 9th. The stock was acquired at an average price of $414.14 per share, for a total transaction of $49,696.80. Following the transaction, the director now directly owns 2,669 shares of the company’s stock, valued at $1,105,339.66. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.40% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of MELI. Harvest Group Wealth Management LLC bought a new position in shares of Mercadolibre during the 1st quarter worth approximately $28,000. Icon Wealth Partners LLC bought a new position in Mercadolibre in the 1st quarter valued at $32,000. Shine Investment Advisory Services Inc. bought a new position in Mercadolibre in the 1st quarter valued at $34,000. Carroll Financial Associates Inc. raised its position in Mercadolibre by 59.5% in the 1st quarter. Carroll Financial Associates Inc. now owns 67 shares of the company’s stock valued at $34,000 after purchasing an additional 25 shares during the last quarter. Finally, Advisory Alpha LLC bought a new position in Mercadolibre in the 1st quarter valued at $37,000. Institutional investors and hedge funds own 81.58% of the company’s stock.
MELI opened at $572.93 on Thursday. The company has a market capitalization of $26.78 billion, a price-to-earnings ratio of -698.70 and a beta of 2.14. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 0.34. Mercadolibre has a 12-month low of $257.52 and a 12-month high of $589.56.
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.
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