MercadoLibre, Inc. (NASDAQ:MELI) Forecasted to Post Q3 2017 Earnings of $1.08 Per Share
MercadoLibre, Inc. (NASDAQ:MELI) – Investment analysts at KeyCorp reduced their Q3 2017 earnings estimates for shares of MercadoLibre in a research report issued to clients and investors on Friday. KeyCorp analyst B. Erickson now forecasts that the company will post earnings of $1.08 per share for the quarter, down from their previous forecast of $1.27. KeyCorp also issued estimates for MercadoLibre’s Q4 2017 earnings at $1.21 EPS, Q3 2018 earnings at $1.61 EPS and Q4 2018 earnings at $1.71 EPS.
Other research analysts also recently issued research reports about the company. Barclays PLC cut their price target on MercadoLibre from $290.00 to $275.00 and set an “overweight” rating for the company in a research note on Friday. Vetr raised MercadoLibre from a “buy” rating to a “strong-buy” rating and set a $316.69 price objective on the stock in a report on Monday. Credit Suisse Group increased their price objective on MercadoLibre from $260.00 to $290.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. Susquehanna Bancshares Inc reissued a “neutral” rating and set a $275.00 price objective (up previously from $213.00) on shares of MercadoLibre in a report on Tuesday, May 9th. Finally, BidaskClub cut MercadoLibre from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $259.91.
Shares of MercadoLibre (NASDAQ:MELI) opened at 260.47 on Monday. The firm has a market cap of $11.50 billion, a P/E ratio of 74.38 and a beta of 2.05. The stock’s 50 day moving average price is $270.73 and its 200-day moving average price is $237.44. MercadoLibre has a 12-month low of $148.98 and a 12-month high of $297.95.
MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 3rd. The company reported $0.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.06 by $0.45. MercadoLibre had a return on equity of 38.10% and a net margin of 13.37%. The firm had revenue of $316.53 million for the quarter, compared to analyst estimates of $312.16 million. During the same period in the prior year, the business posted $0.74 EPS. The firm’s quarterly revenue was up 58.6% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Saturday, September 30th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.60 annualized dividend and a dividend yield of 0.23%. MercadoLibre’s dividend payout ratio (DPR) is presently 18.40%.
Institutional investors have recently made changes to their positions in the stock. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new position in shares of MercadoLibre during the first quarter valued at approximately $106,000. Van ECK Associates Corp raised its position 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 position in MercadoLibre during the first quarter valued at about $169,000. Mitchell Capital Management Co. bought a new position in MercadoLibre during the first quarter valued at about $205,000. Finally, Mn Services Vermogensbeheer B.V. raised its position 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. Hedge funds and other institutional investors own 91.95% of the company’s stock.
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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