Mercadolibre Inc (MELI) Given Consensus Recommendation of “Buy” by Analysts
Mercadolibre Inc (NASDAQ:MELI) has been assigned a consensus recommendation of “Buy” from the sixteen analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $276.98.
A number of research firms recently issued reports on MELI. Credit Suisse Group reiterated an “outperform” rating and set a $385.00 target price (up previously from $380.00) on shares of Mercadolibre in a research report on Monday, January 8th. Zacks Investment Research upgraded shares of Mercadolibre from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 9th. BidaskClub upgraded shares of Mercadolibre from a “buy” rating to a “strong-buy” rating in a report on Friday, January 5th. Deutsche Bank set a $335.00 price objective on shares of Mercadolibre and gave the stock a “hold” rating in a report on Thursday, January 4th. Finally, KeyCorp restated a “buy” rating and set a $290.00 price objective on shares of Mercadolibre in a report on Tuesday, October 17th.
Mercadolibre (MELI) opened at $341.88 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.43 and a current ratio of 1.44. Mercadolibre has a 1 year low of $172.85 and a 1 year high of $348.17. The stock has a market cap of $15,100.00, a price-to-earnings ratio of 113.58, a P/E/G ratio of 4.75 and a beta of 2.05.
Mercadolibre (NASDAQ:MELI) last released its earnings results on Thursday, November 2nd. The company reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.07. Mercadolibre had a net margin of 10.91% and a return on equity of 34.78%. The company had revenue of $370.66 million for the quarter, compared to the consensus estimate of $347.29 million. During the same quarter in the previous year, the company earned $0.88 EPS. Mercadolibre’s quarterly revenue was up 60.6% compared to the same quarter last year. research analysts expect that Mercadolibre will post 2.43 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Sunday, December 31st were issued a $0.15 dividend. The ex-dividend date was Thursday, December 28th. This represents a $0.60 annualized dividend and a dividend yield of 0.18%. Mercadolibre’s dividend payout ratio is currently 19.93%.
In other news, Director Alejandro Nicolas Aguzin bought 10,000 shares of the stock in a transaction dated Monday, November 27th. The stock was bought at an average price of $274.47 per share, for a total transaction of $2,744,700.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $2,744,700. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.36% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Fieldpoint Private Securities LLC bought a new position in Mercadolibre during the third quarter valued at about $104,000. Smithfield Trust Co. grew its position in Mercadolibre by 1,025.0% during the third quarter. Smithfield Trust Co. now owns 450 shares of the company’s stock valued at $116,000 after buying an additional 410 shares during the period. Toronto Dominion Bank grew its position in Mercadolibre by 18.4% during the second quarter. Toronto Dominion Bank now owns 515 shares of the company’s stock valued at $129,000 after buying an additional 80 shares during the period. Ameritas Investment Partners Inc. bought a new position in Mercadolibre during the second quarter valued at about $198,000. Finally, Rehmann Capital Advisory Group bought a new position in Mercadolibre during the third quarter valued at about $213,000. Institutional investors own 89.45% of the company’s stock.
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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