MercadoLibre, Inc. (NASDAQ:MELI) Upgraded to “Buy” at BidaskClub
BidaskClub upgraded shares of MercadoLibre, Inc. (NASDAQ:MELI) from a hold rating to a buy rating in a report released on Sunday morning.
Other equities analysts have also issued research reports about the stock. Credit Suisse Group boosted their price objective on shares of MercadoLibre from $260.00 to $290.00 and gave the stock an outperform rating in a report on Monday, May 15th. Susquehanna Bancshares Inc reiterated a neutral rating and issued a $275.00 price objective (up previously from $213.00) on shares of MercadoLibre in a report on Tuesday, May 9th. J P Morgan Chase & Co lowered shares of MercadoLibre from an overweight rating to a neutral rating and boosted their price objective for the stock from $296.24 to $300.00 in a report on Tuesday, May 16th. Goldman Sachs Group, Inc. (The) lowered shares of MercadoLibre from a buy rating to a neutral rating and cut their price objective for the stock from $309.00 to $290.00 in a report on Tuesday, June 13th. Finally, Barclays PLC boosted their price objective on shares of MercadoLibre from $275.00 to $300.00 and gave the stock an overweight rating in a report on Friday, June 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. MercadoLibre has an average rating of Hold and an average price target of $257.46.
MercadoLibre (NASDAQ MELI) traded up 0.75% during mid-day trading on Friday, hitting $273.58. The stock had a trading volume of 475,955 shares. MercadoLibre has a one year low of $147.33 and a one year high of $297.95. The company has a 50 day moving average price of $276.49 and a 200-day moving average price of $219.31. The company has a market cap of $12.08 billion, a price-to-earnings ratio of 78.12 and a beta of 2.02.
MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, May 4th. The company reported $1.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.32. The business had revenue of $273.90 million for the quarter, compared to analyst estimates of $247.85 million. MercadoLibre had a net margin of 16.10% and a return on equity of 41.12%. The business’s quarterly revenue was up 73.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.68 EPS. Equities analysts expect that MercadoLibre will post $4.73 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Friday, June 30th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend is Wednesday, June 28th. MercadoLibre’s payout ratio is currently 17.14%.
Several large investors have recently added to or reduced their stakes in MELI. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in MercadoLibre during the first quarter valued at $106,000. Van ECK Associates Corp increased its stake in MercadoLibre by 7.3% in the first quarter. Van ECK Associates Corp now owns 735 shares of the company’s stock valued at $155,000 after buying an additional 50 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in MercadoLibre during the first quarter valued at $169,000. Mitchell Capital Management Co. bought a new stake in MercadoLibre during the first quarter valued at $205,000. Finally, Mn Services Vermogensbeheer B.V. increased its stake in MercadoLibre by 3.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,060 shares of the company’s stock valued at $210,000 after buying an additional 31 shares during the last quarter. 91.27% of the stock is owned by institutional investors.
MercadoLibre Company Profile
MercadoLibre, Inc is an e-commerce company. The Company enables commerce through its marketplace platform in Latin America, which is designed to provide users with a portfolio of services to facilitate commercial transactions. Its geographic segments are Brazil, Argentina, Mexico Venezuela and Other Countries (which includes Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Portugal, Guatemala, Bolivia, Paraguay, Uruguay and the United States of America).
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