MercadoLibre, Inc. to Post Q3 2017 Earnings of $1.08 Per Share, KeyCorp Forecasts (MELI)
MercadoLibre, Inc. (NASDAQ:MELI) – Equities research analysts at KeyCorp decreased their Q3 2017 earnings estimates for MercadoLibre in a research note issued on Friday. KeyCorp analyst B. Erickson now forecasts that the company will post earnings per share of $1.08 for the quarter, down from their previous estimate of $1.27. KeyCorp also issued estimates for MercadoLibre’s Q4 2017 earnings at $1.21 EPS, Q3 2018 earnings at $1.61 EPS and Q4 2018 earnings at $1.71 EPS.
MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by $0.45. MercadoLibre had a return on equity of 37.59% and a net margin of 13.37%. The firm had revenue of $316.53 million for the quarter, compared to analysts’ expectations of $312.16 million. During the same quarter in the previous year, the firm posted $0.74 earnings per share. The firm’s revenue for the quarter was up 58.6% compared to the same quarter last year.
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A number of other brokerages also recently commented on MELI. Credit Suisse Group lifted their price objective on MercadoLibre from $260.00 to $290.00 and gave the company an “outperform” rating in a research report on Monday, May 15th. BidaskClub downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research report on Wednesday, June 28th. Barclays PLC reaffirmed a “buy” rating and issued a $275.00 price objective on shares of MercadoLibre in a research report on Sunday, May 7th. Zacks Investment Research downgraded MercadoLibre from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Finally, Goldman Sachs Group, Inc. (The) downgraded MercadoLibre from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $309.00 to $290.00 in a research report on Tuesday, June 13th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $259.91.
Shares of MercadoLibre (NASDAQ MELI) opened at 251.92 on Monday. MercadoLibre has a 12 month low of $148.98 and a 12 month high of $297.95. The company’s 50 day moving average price is $271.82 and its 200 day moving average price is $238.35. The stock has a market capitalization of $11.12 billion, a PE ratio of 71.94 and a beta of 2.05.
Hedge funds and other institutional investors have recently modified their holdings of the stock. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new position in shares of MercadoLibre during the first quarter worth $106,000. Pacer Advisors Inc. purchased a new position in shares of MercadoLibre during the second quarter worth $146,000. Van ECK Associates Corp boosted its position in shares of MercadoLibre by 7.3% in the first quarter. Van ECK Associates Corp now owns 735 shares of the company’s stock worth $155,000 after buying an additional 50 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of MercadoLibre during the first quarter worth approximately $169,000. Finally, Dixon Hubard Feinour & Brown Inc. VA bought a new position in shares of MercadoLibre during the second quarter worth approximately $226,000. Hedge funds and other institutional investors own 92.15% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Saturday, September 30th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend is Thursday, September 28th. MercadoLibre’s payout ratio is currently 18.40%.
MercadoLibre Company Profile
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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