Mercadolibre Inc (MELI) Expected to Announce Earnings of -$0.03 Per Share

Analysts expect that Mercadolibre Inc (NASDAQ:MELI) will announce ($0.03) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Mercadolibre’s earnings, with the lowest EPS estimate coming in at ($0.19) and the highest estimate coming in at $0.12. Mercadolibre reported earnings per share of $0.63 in the same quarter last year, which suggests a negative year-over-year growth rate of 104.8%. The company is scheduled to report its next earnings report on Thursday, November 1st.

On average, analysts expect that Mercadolibre will report full year earnings of ($0.43) per share for the current financial year, with EPS estimates ranging from ($0.81) to ($0.01). For the next financial year, analysts anticipate that the company will post earnings of $1.08 per share, with EPS estimates ranging from ($0.26) to $3.32. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research 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 the Thomson Reuters’ consensus estimate of ($0.21) by ($0.04). Mercadolibre had a positive return on equity of 4.32% and a negative net margin of 4.39%. The firm had revenue of $335.40 million for the quarter, compared to analysts’ expectations of $333.98 million. During the same quarter in the prior year, the business posted $0.61 earnings per share. Mercadolibre’s revenue was up 18.1% on a year-over-year basis.

Several research firms have weighed in on MELI. Barclays raised their target price on Mercadolibre from $365.00 to $375.00 and gave the company an “overweight” rating in a report on Thursday, August 9th. Stifel Nicolaus lifted their price objective on Mercadolibre from $360.00 to $380.00 and gave the stock a “hold” rating in a research note on Thursday, August 9th. BidaskClub upgraded Mercadolibre from a “sell” rating to a “hold” rating in a research note on Wednesday, August 29th. ValuEngine lowered Mercadolibre from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 11th. Finally, Zacks Investment Research lowered Mercadolibre from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $366.25.

NASDAQ MELI traded up $4.77 during trading on Wednesday, hitting $313.37. 536,800 shares of the company traded hands, compared to its average volume of 787,472. Mercadolibre has a 12 month low of $217.06 and a 12 month high of $417.91. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.15 and a quick ratio of 1.15. The firm has a market cap of $15.03 billion, a P/E ratio of 123.86 and a beta of 2.03.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MELI. FMR LLC boosted its holdings in Mercadolibre by 35.7% during the second quarter. FMR LLC now owns 1,454,121 shares of the company’s stock valued at $434,680,000 after purchasing an additional 382,384 shares in the last quarter. OppenheimerFunds Inc. boosted its holdings in shares of Mercadolibre by 310.9% in the 2nd quarter. OppenheimerFunds Inc. now owns 487,664 shares of the company’s stock worth $145,778,000 after acquiring an additional 368,989 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in shares of Mercadolibre by 247.8% in the 2nd quarter. Artisan Partners Limited Partnership now owns 292,491 shares of the company’s stock worth $87,434,000 after acquiring an additional 208,402 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Mercadolibre in the 2nd quarter worth approximately $33,946,000. Finally, PointState Capital LP acquired a new position in shares of Mercadolibre in the 2nd quarter worth approximately $32,263,000. 95.24% of the stock is currently owned by institutional investors.

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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