MercadoLibre SA (MELI) Hits New 52-Week High at $143.59
MercadoLibre SA (NASDAQ:MELI)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $143.59 and last traded at $142.12, with a volume of 148,098 shares trading hands. The stock had previously closed at $139.68.
Several equities analysts recently issued reports on MELI shares. Zacks Investment Research upgraded shares of MercadoLibre SA from a “hold” rating to a “buy” rating and set a $141.00 target price for the company in a research note on Wednesday, April 27th. Piper Jaffray Cos. reiterated a “buy” rating and issued a $160.00 target price on shares of MercadoLibre SA in a research note on Friday, July 1st. Cowen and Company started coverage on shares of MercadoLibre SA in a research note on Monday, April 25th. They issued a “market perform” rating and a $120.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of MercadoLibre SA from $121.00 to $133.00 and gave the company a “neutral” rating in a research note on Monday, May 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $131.67.
The firm has a 50-day moving average price of $135.53 and a 200-day moving average price of $117.34. The company has a market capitalization of $6.29 billion and a P/E ratio of 46.88.
MercadoLibre SA (NASDAQ:MELI) last released its quarterly earnings data on Thursday, May 5th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.12. The company had revenue of $157.63 million for the quarter, compared to analyst estimates of $145.95 million. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.78 EPS. On average, equities analysts predict that MercadoLibre SA will post $2.70 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, June 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.43%.
Other institutional investors have made changes to their positions in the company. Jennison Associates LLC raised its position in shares of MercadoLibre SA by 3.8% in the fourth quarter. Jennison Associates LLC now owns 199,497 shares of the company’s stock worth $22,810,000 after buying an additional 7,311 shares during the period. US Bancorp DE raised its position in shares of MercadoLibre SA by 36.2% in the fourth quarter. US Bancorp DE now owns 13,964 shares of the company’s stock worth $1,597,000 after buying an additional 3,712 shares during the period. Carmignac Gestion raised its position in shares of MercadoLibre SA by 30.9% in the fourth quarter. Carmignac Gestion now owns 2,008,581 shares of the company’s stock worth $229,661,000 after buying an additional 474,272 shares during the period. State of New Jersey Common Pension Fund D raised its position in shares of MercadoLibre SA by 3.7% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 62,094 shares of the company’s stock worth $7,100,000 after buying an additional 2,200 shares during the period. Finally, Trilogy Global Advisors LP acquired a new position in shares of MercadoLibre SA during the fourth quarter worth about $4,906,000.
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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