MercadoLibre SA (NASDAQ:MELI) Receives Consensus Rating of “Buy” from Brokerages
MercadoLibre SA (NASDAQ:MELI) has received an average recommendation of “Buy” from the ten brokerages that are presently covering the company. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $162.88.
A number of research firms recently commented on MELI. Stifel Nicolaus lifted their price target on MercadoLibre SA from $150.00 to $180.00 and gave the stock a “hold” rating in a report on Thursday. Piper Jaffray Cos. restated an “overweight” rating and set a $185.00 price objective on shares of MercadoLibre SA in a research report on Tuesday, August 30th. JPMorgan Chase & Co. upgraded shares of 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 report on Friday, September 2nd. Zacks Investment Research upgraded shares of MercadoLibre SA from a “hold” rating to a “strong-buy” rating and set a $212.00 price objective for the company in a research report on Wednesday. Finally, Goldman Sachs Group Inc. initiated coverage on shares of MercadoLibre SA in a research report on Tuesday, August 9th. They set a “neutral” rating and a $170.00 price objective for the company.
MercadoLibre SA (NASDAQ:MELI) traded up 1.96% during midday trading on Friday, reaching $189.94. The company had a trading volume of 216,071 shares. The stock’s 50 day moving average is $178.34 and its 200 day moving average is $147.07. The company has a market capitalization of $8.39 billion, a PE ratio of 64.17 and a beta of 2.08. MercadoLibre SA has a one year low of $84.19 and a one year high of $191.76.
MercadoLibre SA (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by $0.23. MercadoLibre SA had a return on equity of 38.04% and a net margin of 18.50%. The business had revenue of $199.60 million for the quarter, compared to the consensus estimate of $180.94 million. During the same quarter in the previous year, the business posted $0.44 EPS. The company’s revenue for the quarter was up 29.4% on a year-over-year basis. Equities research analysts forecast that MercadoLibre SA will post $2.76 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.60 dividend on an annualized basis and a yield of 0.32%. MercadoLibre SA’s dividend payout ratio (DPR) is 20.34%.
In other MercadoLibre SA news, EVP Daniel Rabinovich sold 6,195 shares of the business’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $166.61, for a total transaction of $1,032,148.95. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director A Michael Spence sold 3,451 shares of the business’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $168.97, for a total transaction of $583,115.47. Following the sale, the director now directly owns 6,903 shares in the company, valued at approximately $1,166,399.91. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. Pillar Pacific Capital Management LLC boosted its stake in MercadoLibre SA by 0.4% in the second quarter. Pillar Pacific Capital Management LLC now owns 2,715 shares of the company’s stock worth $382,000 after buying an additional 10 shares during the last quarter. Wedbush Securities Inc. boosted its stake in MercadoLibre SA by 1.3% in the second quarter. Wedbush Securities Inc. now owns 3,109 shares of the company’s stock worth $437,000 after buying an additional 39 shares during the last quarter. IFP Advisors Inc boosted its stake 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. Zacks Investment Management boosted its stake in MercadoLibre SA by 3.0% in the second quarter. Zacks Investment Management now owns 2,575 shares of the company’s stock worth $362,000 after buying an additional 74 shares during the last quarter. Finally, Creative Planning boosted its stake 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. 74.01% of the stock is currently owned by hedge funds and other institutional investors.
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.
Receive News & Stock Ratings for MercadoLibre SA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MercadoLibre SA and related stocks with our FREE daily email newsletter.