Brokerages expect that Mercadolibre Inc (NASDAQ:MELI) will post sales of $406.91 million for the current quarter, according to Zacks. Three analysts have issued estimates for Mercadolibre’s earnings. The highest sales estimate is $416.50 million and the lowest is $389.33 million. Mercadolibre reported sales of $436.98 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 6.9%. The company is expected to announce its next earnings results on Thursday, February 28th.
On average, analysts expect that Mercadolibre will report full-year sales of $1.42 billion for the current financial year, with estimates ranging from $1.40 billion to $1.43 billion. For the next year, analysts forecast that the business will report sales of $2.03 billion, with estimates ranging from $1.88 billion to $2.17 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Mercadolibre.
Mercadolibre (NASDAQ:MELI) last released its earnings results on Thursday, November 1st. The company reported ($0.23) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.13). The company had revenue of $355.30 million for the quarter, compared to analyst estimates of $352.75 million. Mercadolibre had a negative net margin of 7.04% and a negative return on equity of 9.47%. Mercadolibre’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.63 earnings per share.
Several research firms recently commented on MELI. ValuEngine upgraded shares of Mercadolibre from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 22nd. Barclays upped their target price on shares of Mercadolibre from $365.00 to $375.00 and gave the company an “overweight” rating in a research note on Thursday, August 9th. BTIG Research began coverage on shares of Mercadolibre in a research note on Tuesday, November 13th. They set a “buy” rating and a $395.00 target price for the company. Piper Jaffray Companies cut their target price on shares of Mercadolibre to $340.00 and set an “overweight” rating for the company in a research note on Tuesday, October 30th. Finally, Stifel Nicolaus upgraded shares of Mercadolibre from a “hold” rating to a “buy” rating and set a $380.00 target price for the company in a research note on Tuesday, August 21st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $362.62.
NASDAQ:MELI opened at $354.85 on Thursday. The firm has a market cap of $15.91 billion, a P/E ratio of 140.26 and a beta of 2.07. Mercadolibre has a one year low of $267.01 and a one year high of $417.91. The company has a quick ratio of 1.61, a current ratio of 1.62 and a debt-to-equity ratio of 1.62.
Several hedge funds have recently made changes to their positions in MELI. Steward Partners Investment Advisory LLC raised its stake in shares of Mercadolibre by 79.7% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 408 shares of the company’s stock valued at $139,000 after buying an additional 181 shares in the last quarter. Financial Gravity Wealth Inc. raised its stake in shares of Mercadolibre by 151.3% in the 3rd quarter. Financial Gravity Wealth Inc. now owns 671 shares of the company’s stock valued at $193,000 after buying an additional 404 shares in the last quarter. HMS Capital Management LLC acquired a new position in shares of Mercadolibre in the 2nd quarter valued at $211,000. Wagner Bowman Management Corp acquired a new position in shares of Mercadolibre in the 3rd quarter valued at $214,000. Finally, Brown Advisory Inc. acquired a new position in shares of Mercadolibre in the 3rd quarter valued at $215,000. Institutional investors own 93.38% of the company’s stock.
Mercadolibre Company Profile
MercadoLibre, Inc hosts online commerce platforms in Latin America. It offers MercadoLibre Marketplace, an automated online commerce service for businesses and individuals to list items and conduct their sales and purchases online in a fixed-price or auction-based format. The company's Marketplace platform enables commerce through online classifieds for motor vehicles, vessels, aircraft, services, and real estate; and Internet users to browse through various products that are listed on its Website and to register with MercadoLibre to list and purchase items and services.
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