MercadoLibre SA (MELI) Given New $180.00 Price Target at Stifel Nicolaus
Other analysts also recently issued research reports about the company. Piper Jaffray Cos. raised their price objective on MercadoLibre SA from $160.00 to $185.00 and gave the stock an overweight rating in a research note on Friday, August 5th. Zacks Investment Research raised MercadoLibre SA from a hold rating to a strong-buy rating and set a $212.00 price objective on the stock in a research note on Wednesday. Goldman Sachs Group Inc. began coverage on MercadoLibre SA in a research note on Tuesday, August 9th. They set a neutral rating and a $170.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised MercadoLibre SA from a neutral rating to an overweight rating and raised their price objective for the stock from $173.68 to $200.00 in a research note on Friday, September 2nd. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $162.88.
MercadoLibre SA (NASDAQ:MELI) traded up 1.855% during mid-day trading on Thursday, hitting $189.745. The stock had a trading volume of 214,271 shares. MercadoLibre SA has a 52 week low of $84.19 and a 52 week high of $191.76. The company has a market capitalization of $8.38 billion, a P/E ratio of 64.103 and a beta of 2.08. The stock’s 50-day moving average is $178.34 and its 200 day moving average is $147.07.
MercadoLibre SA (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.59 by $0.23. The company earned $199.60 million during the quarter, compared to analyst estimates of $180.94 million. MercadoLibre SA had a net margin of 18.50% and a return on equity of 38.04%. The business’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same period last year, the company earned $0.44 EPS. Equities analysts forecast that MercadoLibre SA will post $2.76 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.32%. The ex-dividend date is Wednesday, September 28th. MercadoLibre SA’s payout ratio is 20.34%.
In related news, VP Pedro Arnt sold 3,000 shares of MercadoLibre SA stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $168.27, for a total transaction of $504,810.00. Following the completion of the transaction, the vice president now owns 19,129 shares in the company, valued at $3,218,836.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director A Michael Spence sold 3,451 shares of MercadoLibre SA stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $168.97, for a total value of $583,115.47. Following the transaction, the director now owns 6,903 shares of the company’s stock, valued at approximately $1,166,399.91. The disclosure for this sale can be found here. 0.36% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of MELI. IFP Advisors Inc boosted its position in MercadoLibre SA by 8.8% in the second quarter. IFP Advisors Inc now owns 765 shares of the company’s stock worth $108,000 after buying an additional 62 shares during the last quarter. Seven Eight Capital LLC acquired a new position in MercadoLibre SA during the second quarter worth approximately $113,000. Creative Planning boosted its position in MercadoLibre SA by 18.4% in the second quarter. Creative Planning now owns 1,126 shares of the company’s stock worth $158,000 after buying an additional 175 shares during the last quarter. Societe Generale acquired a new position in MercadoLibre SA during the second quarter worth approximately $186,000. Finally, SG Americas Securities LLC acquired a new position in MercadoLibre SA during the second quarter worth approximately $186,000. Institutional investors and hedge funds own 74.01% of the company’s stock.
MercadoLibre SA Company Profile
MercadoLibre, Inc (MercadoLibre) hosts an online commerce platform in Latin America, which is focused on enabling e-commerce and its related services. The Company provides a portfolio of services facilitating e-commerce transactions. Its geographic segments are Brazil, Argentina, Mexico, Venezuela and other countries (including Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Portugal, Guatemala, Bolivia, Paraguay, Uruguay and the United States of America.
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