Stifel Nicolaus Raises MercadoLibre SA (MELI) Price Target to $180.00
Several other research analysts also recently commented on the company. Zacks Investment Research raised MercadoLibre SA from a hold rating to a strong-buy rating and set a $212.00 price objective on the stock in a research note on Wednesday, October 5th. Piper Jaffray Cos. reiterated a buy rating and set a $160.00 target price on shares of MercadoLibre SA in a research report on Friday, July 1st. Goldman Sachs Group Inc. assumed coverage on MercadoLibre SA in a research report on Tuesday, August 9th. They set a neutral rating and a $170.00 target price for the company. Finally, JPMorgan Chase & Co. upgraded MercadoLibre SA from a neutral rating to an overweight rating and increased their target price for the stock from $173.68 to $200.00 in a research report on Friday, September 2nd. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. MercadoLibre SA presently has a consensus rating of Buy and a consensus target price of $162.88.
Shares of MercadoLibre SA (NASDAQ:MELI) opened at 189.19 on Thursday. The firm has a 50-day moving average price of $179.60 and a 200 day moving average price of $148.65. MercadoLibre SA has a 12 month low of $84.19 and a 12 month high of $193.58. The company has a market cap of $8.35 billion, a P/E ratio of 63.92 and a beta of 2.08.
MercadoLibre SA (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.59 by $0.23. MercadoLibre SA had a return on equity of 38.04% and a net margin of 18.50%. The company earned $199.60 million during the quarter, compared to the consensus estimate of $180.94 million. During the same period last year, the business earned $0.44 EPS. The firm’s quarterly revenue was up 29.4% compared to the same quarter last year. Equities analysts predict that MercadoLibre SA will post $2.76 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend is Wednesday, September 28th. MercadoLibre SA’s dividend payout ratio is presently 20.34%.
In other MercadoLibre SA news, Director A Michael Spence sold 3,451 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $168.97, for a total transaction of $583,115.47. Following the completion of the transaction, the director now owns 6,903 shares in the company, valued at approximately $1,166,399.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel Rabinovich sold 6,195 shares of the firm’s stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $166.61, for a total value of $1,032,148.95. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Orbis Allan Gray Ltd purchased a new position in MercadoLibre SA during the first quarter valued at $70,045,000. Envestnet Asset Management Inc. boosted its position in shares of MercadoLibre SA by 16.2% in the first quarter. Envestnet Asset Management Inc. now owns 9,814 shares of the company’s stock worth $1,157,000 after buying an additional 1,370 shares during the period. Mariner Wealth Advisors LLC bought a new position in shares of MercadoLibre SA during the first quarter worth approximately $205,000. Geode Capital Management LLC boosted its position in shares of MercadoLibre SA by 7.2% in the first quarter. Geode Capital Management LLC now owns 17,156 shares of the company’s stock worth $2,021,000 after buying an additional 1,158 shares during the period. Finally, Loomis Sayles & Co. L P boosted its position in shares of MercadoLibre SA by 99.1% in the first quarter. Loomis Sayles & Co. L P now owns 1,959 shares of the company’s stock worth $231,000 after buying an additional 975 shares during the period. Institutional investors and hedge funds own 74.01% of the company’s stock.
MercadoLibre SA Company Profile
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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