Mercadolibre (MELI) Hits New 1-Year High on Analyst Upgrade
Mercadolibre Inc (NASDAQ:MELI) shares reached a new 52-week high on Wednesday after BidaskClub upgraded the stock from a hold rating to a buy rating. The company traded as high as $310.10 and last traded at $295.12, with a volume of 975400 shares changing hands. The stock had previously closed at $288.80.
A number of other analysts have also commented on the company. Piper Jaffray Companies reiterated a “buy” rating and set a $268.00 price target on shares of Mercadolibre in a report on Monday, October 23rd. Credit Suisse Group lifted their price target on Mercadolibre from $350.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, November 3rd. Susquehanna Bancshares dropped their price target on Mercadolibre from $275.00 to $230.00 in a report on Friday, October 13th. Barclays decreased their target price on Mercadolibre from $275.00 to $250.00 and set an “overweight” rating for the company in a research report on Monday, October 30th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $275.00 target price on shares of Mercadolibre in a research report on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Mercadolibre presently has a consensus rating of “Buy” and an average target price of $275.98.
In related news, Director Alejandro Nicolas Aguzin purchased 10,000 shares of Mercadolibre stock in a transaction dated Monday, November 27th. The stock was bought at an average cost of $274.47 per share, for a total transaction of $2,744,700.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $2,744,700. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.36% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in MELI. Fieldpoint Private Securities LLC purchased a new position in shares of Mercadolibre in the third quarter valued at $104,000. Smithfield Trust Co. grew its position in shares of Mercadolibre by 1,025.0% in the third quarter. Smithfield Trust Co. now owns 450 shares of the company’s stock valued at $116,000 after purchasing an additional 410 shares in the last quarter. Toronto Dominion Bank grew its position in shares of Mercadolibre by 18.4% in the second quarter. Toronto Dominion Bank now owns 515 shares of the company’s stock valued at $129,000 after purchasing an additional 80 shares in the last quarter. Pacer Advisors Inc. purchased a new position in shares of Mercadolibre in the second quarter valued at $146,000. Finally, Ameritas Investment Partners Inc. purchased a new position in shares of Mercadolibre in the second quarter valued at $198,000. Institutional investors own 89.60% of the company’s stock.
The firm has a market cap of $14,080.00, a P/E ratio of 84.32, a PEG ratio of 4.87 and a beta of 2.05. The company has a current ratio of 1.44, a quick ratio of 1.43 and a debt-to-equity ratio of 0.76.
Mercadolibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.07. The company had revenue of $370.66 million during the quarter, compared to analyst estimates of $347.29 million. Mercadolibre had a return on equity of 34.78% and a net margin of 10.91%. The firm’s quarterly revenue was up 60.6% on a year-over-year basis. During the same quarter last year, the company earned $0.88 earnings per share. research analysts anticipate that Mercadolibre Inc will post 2.42 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Sunday, December 31st will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.19%. The ex-dividend date of this dividend is Thursday, December 28th. Mercadolibre’s dividend payout ratio is 19.93%.
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Mercadolibre Company Profile
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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