$375.68 Million in Sales Expected for Mercadolibre Inc (MELI) This Quarter

Equities analysts expect that Mercadolibre Inc (NASDAQ:MELI) will report $375.68 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Mercadolibre’s earnings, with estimates ranging from $344.90 million to $397.20 million. Mercadolibre posted sales of $370.66 million during the same quarter last year, which suggests a positive year over year growth rate of 1.4%. The business is scheduled to issue its next earnings results on Thursday, November 1st.

According to Zacks, analysts expect that Mercadolibre will report full-year sales of $1.49 billion for the current fiscal year, with estimates ranging from $1.40 billion to $1.60 billion. For the next financial year, analysts expect that the firm will report sales of $2.12 billion per share, with estimates ranging from $1.98 billion to $2.34 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Mercadolibre.

Mercadolibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.04). The business had revenue of $335.40 million during the quarter, compared to the consensus estimate of $333.98 million. Mercadolibre had a negative net margin of 4.39% and a positive return on equity of 4.32%. Mercadolibre’s revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.61 earnings per share.



A number of research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Mercadolibre from a “hold” rating to a “sell” rating in a research report on Tuesday. ValuEngine raised shares of Mercadolibre from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 9th. Credit Suisse Group dropped their price objective on shares of Mercadolibre from $425.00 to $420.00 and set an “outperform” rating for the company in a research note on Thursday, August 9th. Barclays lifted their price objective on shares of Mercadolibre from $365.00 to $375.00 and gave the stock an “overweight” rating in a research note on Thursday, August 9th. Finally, Stifel Nicolaus boosted their target price on shares of Mercadolibre from $360.00 to $380.00 and gave the company a “hold” rating in a research report on Thursday, August 9th. Three analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $356.92.

Shares of NASDAQ:MELI traded down $19.07 during midday trading on Friday, reaching $344.44. 13,030 shares of the company were exchanged, compared to its average volume of 764,974. Mercadolibre has a fifty-two week low of $217.06 and a fifty-two week high of $417.91. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 2.15. The firm has a market cap of $16.44 billion, a price-to-earnings ratio of 139.13 and a beta of 2.04.

In other Mercadolibre news, Director Meyer Malka purchased 16,518 shares of the firm’s stock in a transaction on Thursday, June 14th. The shares were purchased at an average cost of $301.39 per share, with a total value of $4,978,360.02. Following the completion of the purchase, the director now owns 1,708 shares of the company’s stock, valued at approximately $514,774.12. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have acquired 34,726 shares of company stock worth $10,451,306 over the last three months. Insiders own 0.32% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Fortis Advisors LLC bought a new stake in shares of Mercadolibre during the 1st quarter valued at $112,000. HMS Capital Management LLC purchased a new position in Mercadolibre in the 2nd quarter worth about $211,000. WESPAC Advisors LLC purchased a new position in Mercadolibre in the 1st quarter worth about $215,000. Paloma Partners Management Co purchased a new stake in shares of Mercadolibre during the 2nd quarter valued at about $239,000. Finally, Natixis purchased a new stake in shares of Mercadolibre during the 2nd quarter valued at about $253,000. Institutional investors and hedge funds own 87.30% of the company’s stock.

About Mercadolibre

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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