Stifel Nicolaus upgraded shares of MercadoLibre, Inc. (NASDAQ:MELI) from a hold rating to a buy rating in a research note published on Friday morning. They currently have $275.00 price target on the stock.
Other analysts have also recently issued research reports about the stock. Bank of America Corporation boosted their price objective on shares of MercadoLibre from $300.00 to $330.00 and gave the stock a buy rating in a research note on Thursday, May 25th. BidaskClub raised shares of MercadoLibre from a hold rating to a buy rating in a research note on Sunday, July 16th. Citigroup Inc. cut shares of MercadoLibre from a buy rating to a neutral rating and set a $280.00 price objective on the stock. in a research note on Friday, June 23rd. J P Morgan Chase & Co cut shares of MercadoLibre from an overweight rating to a neutral rating and boosted their price objective for the stock from $296.24 to $300.00 in a research note on Tuesday, May 16th. Finally, Credit Suisse Group reissued a buy rating and issued a $290.00 price objective on shares of MercadoLibre in a research note on Friday, July 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $261.69.
MercadoLibre (MELI) traded up 1.15% during mid-day trading on Friday, hitting $246.41. The stock had a trading volume of 667,971 shares. The firm has a market cap of $10.88 billion, a P/E ratio of 75.52 and a beta of 2.05. The stock has a 50 day moving average of $263.14 and a 200-day moving average of $244.72. MercadoLibre has a 1-year low of $148.98 and a 1-year high of $297.95.
MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by $0.45. The company had revenue of $316.53 million for the quarter, compared to analyst estimates of $312.16 million. MercadoLibre had a return on equity of 37.59% and a net margin of 13.37%. The firm’s quarterly revenue was up 58.6% on a year-over-year basis. During the same quarter last year, the company posted $0.74 earnings per share. Analysts predict that MercadoLibre will post $3.22 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Saturday, September 30th will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.60 dividend on an annualized basis and a yield of 0.24%. MercadoLibre’s dividend payout ratio (DPR) is currently 18.40%.
A number of hedge funds have recently modified their holdings of MELI. Koch Industries Inc. boosted its stake in shares of MercadoLibre by 85,458.8% in the second quarter. Koch Industries Inc. now owns 965,959 shares of the company’s stock worth $962,000 after buying an additional 964,830 shares during the period. Jennison Associates LLC boosted its stake in shares of MercadoLibre by 45.9% in the second quarter. Jennison Associates LLC now owns 779,039 shares of the company’s stock worth $195,445,000 after buying an additional 245,213 shares during the period. Renaissance Technologies LLC boosted its stake in shares of MercadoLibre by 246.4% in the second quarter. Renaissance Technologies LLC now owns 311,800 shares of the company’s stock worth $78,224,000 after buying an additional 221,800 shares during the period. Ardevora Asset Management LLP purchased a new stake in shares of MercadoLibre during the second quarter worth approximately $42,599,000. Finally, Orbis Allan Gray Ltd boosted its stake in shares of MercadoLibre by 10.2% in the second quarter. Orbis Allan Gray Ltd now owns 1,591,614 shares of the company’s stock worth $399,304,000 after buying an additional 146,891 shares during the period. 92.41% of the stock is currently owned by institutional investors and hedge funds.
About MercadoLibre
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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