Brokerages predict that Mercadolibre Inc (NASDAQ:MELI) will report earnings of $0.02 per share for the current quarter, Zacks reports. Four analysts have issued estimates for Mercadolibre’s earnings, with estimates ranging from ($0.04) to $0.05. Mercadolibre reported earnings per share of ($0.23) during the same quarter last year, which indicates a positive year over year growth rate of 108.7%. The business is expected to report its next quarterly earnings results on Thursday, November 7th.
On average, analysts expect that Mercadolibre will report full year earnings of $0.58 per share for the current fiscal year, with EPS estimates ranging from $0.34 to $0.96. For the next fiscal year, analysts anticipate that the company will post earnings of $1.96 per share, with EPS estimates ranging from $0.72 to $3.66. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Mercadolibre.
Mercadolibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. Mercadolibre had a net margin of 0.87% and a return on equity of 1.24%. The company had revenue of $545.24 million for the quarter, compared to analysts’ expectations of $507.68 million. During the same period last year, the firm posted ($0.25) earnings per share. The business’s quarterly revenue was up 62.6% compared to the same quarter last year.
MELI has been the topic of several recent analyst reports. Barclays lifted their target price on Mercadolibre from $615.00 to $730.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. BTIG Research upgraded Mercadolibre from a “neutral” rating to a “buy” rating and set a $720.00 price target for the company in a report on Monday. Credit Suisse Group raised their price target on Mercadolibre from $640.00 to $710.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. They noted that the move was a valuation call. Deutsche Bank boosted their price objective on Mercadolibre from $600.00 to $725.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Finally, Stifel Nicolaus boosted their price objective on Mercadolibre from $560.00 to $650.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $648.50.
Shares of MELI traded down $21.96 during trading hours on Thursday, reaching $549.17. The stock had a trading volume of 1,020,548 shares, compared to its average volume of 593,917. The company has a market cap of $29.72 billion, a P/E ratio of -669.72 and a beta of 1.71. Mercadolibre has a 52 week low of $257.52 and a 52 week high of $698.98. The company has a quick ratio of 2.53, a current ratio of 2.54 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average of $617.27 and a 200 day moving average of $563.77.
Institutional investors have recently made changes to their positions in the stock. CENTRAL TRUST Co grew its stake in shares of Mercadolibre by 62.5% during the 2nd quarter. CENTRAL TRUST Co now owns 52 shares of the company’s stock worth $33,000 after acquiring an additional 20 shares in the last quarter. Perigon Wealth Management LLC lifted its position in shares of Mercadolibre by 2.6% in the second quarter. Perigon Wealth Management LLC now owns 794 shares of the company’s stock worth $486,000 after purchasing an additional 20 shares in the last quarter. Stephens Inc. AR lifted its position in shares of Mercadolibre by 1.0% in the first quarter. Stephens Inc. AR now owns 2,228 shares of the company’s stock worth $1,131,000 after purchasing an additional 21 shares in the last quarter. First Allied Advisory Services Inc. boosted its holdings in Mercadolibre by 2.5% during the first quarter. First Allied Advisory Services Inc. now owns 982 shares of the company’s stock worth $512,000 after purchasing an additional 24 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its position in Mercadolibre by 13.5% in the first quarter. Rockefeller Capital Management L.P. now owns 202 shares of the company’s stock valued at $103,000 after purchasing an additional 24 shares in the last quarter. 83.69% of the stock is currently owned by institutional investors and hedge funds.
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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