MercadoLibre, Inc. (MELI) Given Buy Rating at Stifel Nicolaus
A number of other equities research analysts also recently commented on the company. Barclays PLC reduced their target price on MercadoLibre from $300.00 to $290.00 and set an overweight rating on the stock in a research report on Wednesday, July 19th. Susquehanna Bancshares Inc restated a market perform rating and issued a $275.00 target price on shares of MercadoLibre in a research report on Tuesday, August 1st. Credit Suisse Group restated a buy rating and issued a $290.00 target price on shares of MercadoLibre in a research report on Friday, July 7th. Goldman Sachs Group, Inc. (The) downgraded MercadoLibre from a buy rating to a neutral rating and reduced their target price for the company from $309.00 to $290.00 in a research report on Tuesday, June 13th. Finally, BidaskClub upgraded MercadoLibre from a hold rating to a buy rating in a research report on Sunday, July 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. MercadoLibre currently has a consensus rating of Hold and an average target price of $260.13.
Shares of MercadoLibre (MELI) traded up 2.82% during trading on Wednesday, reaching $271.26. The company’s stock had a trading volume of 339,447 shares. MercadoLibre has a 1-year low of $148.98 and a 1-year high of $297.95. The stock has a 50 day moving average of $262.70 and a 200-day moving average of $257.49. The company has a market capitalization of $11.98 billion, a PE ratio of 83.13 and a beta of 2.03.
MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 3rd. The company reported $0.61 EPS for the quarter, missing the Zacks’ consensus estimate of $1.06 by ($0.45). MercadoLibre had a net margin of 13.37% and a return on equity of 37.59%. 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. MercadoLibre’s revenue for the quarter was up 58.6% compared to the same quarter last year. On average, analysts expect that MercadoLibre will post $2.97 earnings per share for the current year.
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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 paid a $0.15 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.23%. MercadoLibre’s payout ratio is presently 18.40%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new position in MercadoLibre during the 1st quarter worth $106,000. Toronto Dominion Bank grew its stake in MercadoLibre by 18.4% during the 2nd quarter. Toronto Dominion Bank now owns 515 shares of the company’s stock worth $129,000 after purchasing an additional 80 shares in the last quarter. Pacer Advisors Inc. acquired a new position in MercadoLibre during the 2nd quarter worth $146,000. Van ECK Associates Corp grew its stake in MercadoLibre by 7.3% during the 1st quarter. Van ECK Associates Corp now owns 735 shares of the company’s stock worth $155,000 after purchasing an additional 50 shares in the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new position in MercadoLibre during the 2nd quarter worth $198,000. 85.84% of the stock is owned by hedge funds and other 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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