Wall Street analysts expect that Mercadolibre Inc (NASDAQ:MELI) will post sales of $491.48 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Mercadolibre’s earnings, with the highest sales estimate coming in at $505.40 million and the lowest estimate coming in at $476.43 million. Mercadolibre posted sales of $335.38 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 46.5%. The company is expected to issue its next 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 fiscal 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 averages are an average based on a survey of sell-side research analysts that follow Mercadolibre.
Mercadolibre (NASDAQ:MELI) last issued its earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.14. The business 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 business’s quarterly revenue was up 47.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.29) EPS.
MELI has been the subject of several recent analyst reports. Susquehanna Bancshares raised Mercadolibre from a “negative” rating to a “neutral” rating in a report on Friday, May 3rd.
Barclays reaffirmed a “buy” rating on shares of Mercadolibre in a report on Sunday, May 5th. Goldman Sachs Group assumed coverage on Mercadolibre in a report on Tuesday, February 5th. They issued a “buy” rating and a $438.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on Mercadolibre from $430.00 to $515.00 and gave the company an “overweight” rating in a research report on Monday, March 11th. Finally, Zacks Investment Research raised 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. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $481.07.
NASDAQ:MELI traded down $21.16 during mid-day trading on Thursday, reaching $574.57. 551,281 shares of the stock were exchanged, compared to its average volume of 651,203. Mercadolibre has a 1 year low of $257.52 and a 1 year high of $596.70. The company has a market capitalization of $28.34 billion, a PE ratio of -700.70 and a beta of 2.14. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.34.
In other Mercadolibre news, Director Emiliano Calemzuk purchased 120 shares of the stock in a transaction dated Saturday, March 9th. The shares were bought at an average cost of $414.14 per share, with a total value of $49,696.80. Following the completion of the transaction, the director now owns 2,669 shares in the company, valued at approximately $1,105,339.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.40% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in MELI. Harvest Group Wealth Management LLC bought a new position in shares of Mercadolibre in the first quarter valued at approximately $28,000. Icon Wealth Partners LLC acquired a new stake in shares of Mercadolibre in the first quarter valued at approximately $32,000. Shine Investment Advisory Services Inc. acquired a new stake in Mercadolibre during the 1st quarter worth $34,000. Carroll Financial Associates Inc. grew its holdings in Mercadolibre by 59.5% during the 1st quarter. Carroll Financial Associates Inc. now owns 67 shares of the company’s stock worth $34,000 after acquiring an additional 25 shares during the period. Finally, Advisory Alpha LLC acquired a new stake in Mercadolibre during the 1st quarter worth $37,000. Hedge funds and other institutional investors own 81.58% of the company’s stock.
Mercadolibre Company Profile
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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