MercadoLibre, Inc. (NASDAQ:MELI) Receives “Buy” Rating from Piper Jaffray Companies
Piper Jaffray Companies reaffirmed their buy rating on shares of MercadoLibre, Inc. (NASDAQ:MELI) in a research report sent to investors on Thursday, July 13th. The brokerage currently has a $287.00 price objective on the stock.
Several other analysts have also commented on the company. Barclays PLC reaffirmed a buy rating and issued a $275.00 price objective on shares of MercadoLibre in a report on Sunday, May 7th. J P Morgan Chase & Co set a $250.00 price objective on MercadoLibre and gave the stock a buy rating in a report on Monday, March 20th. Credit Suisse Group boosted their price target on MercadoLibre from $260.00 to $290.00 and gave the company an outperform rating in a report on Friday, May 5th. Zacks Investment Research lowered MercadoLibre from a strong-buy rating to a hold rating in a report on Tuesday, June 27th. Finally, Goldman Sachs Group, Inc. (The) lowered MercadoLibre from a buy rating to a neutral rating and cut their price target for the company from $309.00 to $290.00 in a report on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $259.91.
Shares of MercadoLibre (NASDAQ MELI) opened at 251.92 on Thursday. The company has a market cap of $11.12 billion, a price-to-earnings ratio of 71.94 and a beta of 2.05. MercadoLibre has a one year low of $148.98 and a one year high of $297.95. The firm’s 50-day moving average is $271.82 and its 200-day moving average is $238.35.
MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by $0.45. MercadoLibre had a return on equity of 37.59% and a net margin of 13.37%. The business had revenue of $316.53 million during the quarter, compared to analysts’ expectations of $312.16 million. During the same quarter in the prior year, the firm earned $0.74 EPS. The firm’s revenue for the quarter was up 58.6% compared to the same quarter last year. Analysts expect that MercadoLibre will post $3.95 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Saturday, September 30th will be paid a dividend of $0.15 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.24%. MercadoLibre’s dividend payout ratio is 18.40%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Orbis Allan Gray Ltd boosted its position in shares of MercadoLibre by 105.1% in the fourth quarter. Orbis Allan Gray Ltd now owns 1,360,358 shares of the company’s stock valued at $212,407,000 after buying an additional 697,057 shares during the period. Jennison Associates LLC boosted its position in shares of MercadoLibre by 45.9% in the second quarter. Jennison Associates LLC now owns 779,039 shares of the company’s stock valued at $195,445,000 after buying an additional 245,213 shares during the period. Norges Bank purchased a new position in shares of MercadoLibre during the fourth quarter valued at about $36,985,000. State Street Corp boosted its position in shares of MercadoLibre by 671.4% in the fourth quarter. State Street Corp now owns 245,853 shares of the company’s stock valued at $38,391,000 after buying an additional 213,980 shares during the period. Finally, Acadian Asset Management LLC boosted its position in shares of MercadoLibre by 449.3% in the first quarter. Acadian Asset Management LLC now owns 231,597 shares of the company’s stock valued at $48,975,000 after buying an additional 189,432 shares during the period. 92.15% of the stock is currently owned by institutional investors.
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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