Mercadolibre Inc (NASDAQ:MELI) – Investment analysts at KeyCorp lowered their Q2 2018 earnings per share estimates for shares of Mercadolibre in a research report issued on Sunday, June 17th. KeyCorp analyst B. Erickson now expects that the company will post earnings per share of $0.20 for the quarter, down from their previous estimate of $0.33. KeyCorp also issued estimates for Mercadolibre’s Q3 2018 earnings at $0.23 EPS, Q4 2018 earnings at ($0.06) EPS, FY2018 earnings at $0.08 EPS, Q1 2019 earnings at ($0.33) EPS and Q2 2019 earnings at $0.53 EPS.
A number of other brokerages have also weighed in on MELI. BidaskClub lowered Mercadolibre from a “buy” rating to a “hold” rating in a report on Tuesday, March 27th. Morgan Stanley lowered their target price on Mercadolibre from $330.00 to $260.00 and set an “underweight” rating on the stock in a report on Tuesday, May 29th. Zacks Investment Research lowered Mercadolibre from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. ValuEngine lowered Mercadolibre from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 9th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $425.00 target price (up previously from $415.00) on shares of Mercadolibre in a report on Friday, February 23rd. Four analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $337.05.
Shares of Mercadolibre opened at $287.37 on Wednesday, MarketBeat Ratings reports. Mercadolibre has a 1-year low of $217.06 and a 1-year high of $417.91. The firm has a market cap of $13.04 billion, a P/E ratio of 113.58 and a beta of 2.00. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.25.
Mercadolibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, May 9th. The company reported ($0.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.73). Mercadolibre had a positive return on equity of 13.98% and a negative net margin of 3.30%. The business had revenue of $320.98 million for the quarter, compared to analyst estimates of $416.15 million. During the same period in the prior year, the company earned $1.10 EPS. The company’s revenue was up 19.0% on a year-over-year basis.
In related news, Director Meyer Malka acquired 16,518 shares of the firm’s stock in a transaction that occurred on Thursday, June 14th. The shares were acquired at an average price of $301.39 per share, with a total value of $4,978,360.02. Following the completion of the purchase, the director now directly owns 1,708 shares in the company, valued at $514,774.12. The purchase was disclosed in a document filed with the SEC, which is available through this link. In the last ninety days, insiders have purchased 34,726 shares of company stock worth $10,451,306. Corporate insiders own 0.32% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of MELI. Suntrust Banks Inc. lifted its position in Mercadolibre by 36.5% during the first quarter. Suntrust Banks Inc. now owns 1,234 shares of the company’s stock worth $439,000 after buying an additional 330 shares during the period. Principal Financial Group Inc. purchased a new position in Mercadolibre during the first quarter worth about $316,000. WINTON GROUP Ltd purchased a new position in Mercadolibre during the first quarter worth about $625,000. CIBC World Markets Inc. purchased a new position in Mercadolibre during the first quarter worth about $2,644,000. Finally, Xact Kapitalforvaltning AB lifted its position in Mercadolibre by 4.6% during the first quarter. Xact Kapitalforvaltning AB now owns 7,839 shares of the company’s stock worth $2,794,000 after buying an additional 345 shares during the period. 87.87% of the stock is currently owned by institutional investors and hedge funds.
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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