MercadoLibre SA (MELI) Reaches New 1-Year High at $153.27
MercadoLibre SA (NASDAQ:MELI) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $153.27 and last traded at $153.07, with a volume of 125,774 shares changing hands. The stock had previously closed at $152.37.
A number of research analysts have recently issued reports on the company. Piper Jaffray Cos. reiterated a “buy” rating and issued a $160.00 price target on shares of MercadoLibre SA in a report on Friday, July 1st. Zacks Investment Research downgraded MercadoLibre SA from a “buy” rating to a “hold” rating in a research note on Saturday, May 21st. JPMorgan Chase & Co. boosted their target price on MercadoLibre SA from $121.00 to $133.00 and gave the stock a “neutral” rating in a research note on Monday, May 16th. Finally, Cowen and Company assumed coverage on MercadoLibre SA in a research note on Monday, April 25th. They set a “market perform” rating and a $120.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $131.67.
The stock has a market capitalization of $6.76 billion and a P/E ratio of 50.34. The company has a 50 day moving average price of $139.68 and a 200 day moving average price of $119.81.
MercadoLibre SA (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, May 5th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.12. The business had revenue of $157.63 million for the quarter, compared to the consensus estimate of $145.95 million. During the same period in the prior year, the business posted $0.78 earnings per share. MercadoLibre SA’s revenue was up 6.4% on a year-over-year basis. Equities analysts forecast that MercadoLibre SA will post $2.70 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend was Tuesday, June 28th.
Several large investors have modified their holdings of MELI. Jennison Associates LLC raised its stake 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 in the last quarter. US Bancorp DE raised its stake 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 in the last quarter. Carmignac Gestion raised its stake 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 in the last quarter. State of New Jersey Common Pension Fund D raised its stake 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 in the last quarter. Finally, Trilogy Global Advisors LP acquired a new stake 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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