MercadoLibre, Inc. (MELI) Expected to Post Quarterly Sales of $398.80 Million
Wall Street brokerages forecast that MercadoLibre, Inc. (NASDAQ:MELI) will post $398.80 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for MercadoLibre’s earnings. The lowest sales estimate is $377.01 million and the highest is $414.20 million. MercadoLibre posted sales of $256.28 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 55.6%. The firm is scheduled to report its next quarterly earnings results on Thursday, February 22nd.
According to Zacks, analysts expect that MercadoLibre will report full-year sales of $398.80 million for the current year, with estimates ranging from $1.31 billion to $1.38 billion. For the next financial year, analysts forecast that the firm will post sales of $1.97 billion per share, with estimates ranging from $1.74 billion to $2.08 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover MercadoLibre.
MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, November 2nd. The company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.07. MercadoLibre had a net margin of 10.91% and a return on equity of 33.82%. The firm had revenue of $370.66 million for the quarter, compared to the consensus estimate of $347.29 million. During the same period in the previous year, the company earned $0.88 earnings per share. The company’s quarterly revenue was up 60.6% on a year-over-year basis.
Several research firms have commented on MELI. J P Morgan Chase & Co reiterated a “neutral” rating and issued a $270.00 price objective on shares of MercadoLibre in a report on Wednesday, August 9th. Barclays PLC restated an “overweight” rating and issued a $275.00 price target (down from $290.00) on shares of MercadoLibre in a research note on Friday, August 4th. Vetr upgraded shares of MercadoLibre from a “buy” rating to a “strong-buy” rating and set a $316.69 price target on the stock in a research note on Monday, August 7th. BidaskClub downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $287.00 price target on shares of MercadoLibre in a research note on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $271.21.
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A number of institutional investors and hedge funds have recently bought and sold shares of MELI. Koch Industries Inc. lifted its position in MercadoLibre by 85,458.8% during the second quarter. Koch Industries Inc. now owns 965,959 shares of the company’s stock worth $962,000 after purchasing an additional 964,830 shares during the period. Jennison Associates LLC lifted its position in MercadoLibre by 45.9% during the second quarter. Jennison Associates LLC now owns 779,039 shares of the company’s stock worth $195,445,000 after purchasing an additional 245,213 shares during the period. Renaissance Technologies LLC lifted its position in MercadoLibre by 246.4% during the second quarter. Renaissance Technologies LLC now owns 311,800 shares of the company’s stock worth $78,224,000 after purchasing an additional 221,800 shares during the period. Ardevora Asset Management LLP bought a new stake in MercadoLibre during the second quarter worth about $42,599,000. Finally, Orbis Allan Gray Ltd lifted its position in MercadoLibre by 10.2% during the second quarter. Orbis Allan Gray Ltd now owns 1,591,614 shares of the company’s stock worth $399,304,000 after purchasing an additional 146,891 shares during the period. 84.06% of the stock is owned by institutional investors and hedge funds.
MercadoLibre (MELI) opened at $265.63 on Wednesday. MercadoLibre has a fifty-two week low of $148.98 and a fifty-two week high of $297.95. The company has a market cap of $11,730.00, a price-to-earnings ratio of 76.39, a price-to-earnings-growth ratio of 4.15 and a beta of 2.04. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.42 and a quick ratio of 1.42.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Sunday, December 31st will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, December 28th. This represents a $0.60 annualized dividend and a yield of 0.23%. MercadoLibre’s dividend payout ratio is 19.93%.
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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