MercadoLibre SA (NASDAQ:MELI) has been assigned a consensus recommendation of “Buy” from the ten ratings firms that are currently covering the stock. Four equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $162.88.
MELI has been the topic of a number of recent analyst reports. Piper Jaffray Cos. restated a “buy” rating and issued a $160.00 price target on shares of MercadoLibre SA in a report on Friday, July 1st. Stifel Nicolaus lifted their target price on shares of MercadoLibre SA from $150.00 to $180.00 and gave the stock a “hold” rating in a research note on Thursday, October 6th. Goldman Sachs Group Inc. initiated coverage on shares of MercadoLibre SA in a research note on Tuesday, August 9th. They issued a “neutral” rating and a $170.00 target price for the company. JPMorgan Chase & Co. upgraded shares of MercadoLibre SA from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $173.68 to $200.00 in a research note on Friday, September 2nd. Finally, Zacks Investment Research upgraded shares of MercadoLibre SA from a “hold” rating to a “strong-buy” rating and set a $212.00 target price for the company in a research note on Wednesday, October 5th.
MercadoLibre SA (NASDAQ:MELI) opened at 184.47 on Friday. MercadoLibre SA has a 52-week low of $84.19 and a 52-week high of $193.58. The firm has a 50 day moving average of $180.10 and a 200-day moving average of $148.90. The company has a market capitalization of $8.15 billion, a price-to-earnings ratio of 62.32 and a beta of 2.08.
MercadoLibre SA (NASDAQ:MELI) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by $0.23. MercadoLibre SA had a net margin of 18.50% and a return on equity of 38.04%. The firm earned $199.60 million during the quarter, compared to the consensus estimate of $180.94 million. During the same quarter in the prior year, the business posted $0.44 earnings per share. The firm’s quarterly revenue was up 29.4% on a year-over-year basis. Equities analysts expect that MercadoLibre SA will post $2.76 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Wednesday, September 28th. MercadoLibre SA’s dividend payout ratio is presently 20.34%.
In other news, EVP Daniel Rabinovich sold 6,195 shares of MercadoLibre SA stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $166.61, for a total transaction of $1,032,148.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Pedro Arnt sold 3,000 shares of MercadoLibre SA stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $168.27, for a total transaction of $504,810.00. Following the transaction, the vice president now directly owns 19,129 shares of the company’s stock, valued at $3,218,836.83. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Orbis Allan Gray Ltd purchased a new position in MercadoLibre SA during the first quarter valued at $70,045,000. Fiera Capital Corp purchased a new position in MercadoLibre SA during the second quarter valued at $74,077,000. Harding Loevner LP purchased a new position in MercadoLibre SA during the third quarter valued at $93,392,000. Jericho Capital Asset Management L.P. purchased a new position in MercadoLibre SA during the first quarter valued at $52,059,000. Finally, Jackson Square Partners LLC purchased a new position in MercadoLibre SA during the second quarter valued at $111,602,000. 74.01% of the stock is owned by hedge funds and other institutional investors.
About MercadoLibre SA
MercadoLibre, Inc (MercadoLibre) hosts an online commerce platform in Latin America, which is focused on enabling e-commerce and its related services. The Company provides a portfolio of services facilitating e-commerce transactions. Its geographic segments are Brazil, Argentina, Mexico, Venezuela and other countries (including Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Portugal, Guatemala, Bolivia, Paraguay, Uruguay and the United States of America.
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