Mercadolibre Inc (NASDAQ:MELI) Expected to Announce Earnings of $0.02 Per Share

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Brokerages expect that Mercadolibre Inc (NASDAQ:MELI) will report earnings of $0.02 per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Mercadolibre’s earnings, with the highest EPS estimate coming in at $0.05 and the lowest estimate coming in at ($0.04). Mercadolibre posted earnings per share of ($0.23) in the same quarter last year, which suggests a positive year-over-year growth rate of 108.7%. The company is scheduled to report its next earnings results on Thursday, November 7th.

According to Zacks, analysts expect that Mercadolibre will report full year earnings of $0.58 per share for the current year, with EPS estimates ranging from $0.34 to $0.96. For the next year, analysts expect that the firm will report earnings of $1.96 per share, with EPS estimates ranging from $0.72 to $3.66. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Mercadolibre.

Mercadolibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.28 by $0.03. The business had revenue of $545.24 million during the quarter, compared to analysts’ expectations of $507.68 million. Mercadolibre had a net margin of 0.87% and a return on equity of 1.24%. The business’s quarterly revenue was up 62.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.25) EPS.

A number of research firms recently issued reports on MELI. Stifel Nicolaus boosted their target price on shares of Mercadolibre from $560.00 to $650.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. Piper Jaffray Companies increased their price target on Mercadolibre from $584.00 to $675.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. BTIG Research upgraded Mercadolibre from a “neutral” rating to a “buy” rating and set a $720.00 price objective for the company in a research note on Monday. HSBC raised Mercadolibre from a “hold” rating to a “buy” rating and boosted their price objective for the company from $575.00 to $800.00 in a report on Monday. Finally, Cowen set a $651.00 target price on Mercadolibre and gave the stock a “hold” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $648.50.

Hedge funds have recently bought and sold shares of the company. NEXT Financial Group Inc increased its position in shares of Mercadolibre by 104.3% during the second quarter. NEXT Financial Group Inc now owns 47 shares of the company’s stock worth $29,000 after purchasing an additional 24 shares in the last quarter. CENTRAL TRUST Co lifted its holdings in Mercadolibre by 62.5% in the 2nd quarter. CENTRAL TRUST Co now owns 52 shares of the company’s stock valued at $33,000 after purchasing an additional 20 shares in the last quarter. Harvest Group Wealth Management LLC purchased a new position in Mercadolibre in the 1st quarter valued at $28,000. Emerald Investment Partners LLC acquired a new stake in Mercadolibre during the 2nd quarter worth $37,000. Finally, Icon Wealth Partners LLC acquired a new stake in Mercadolibre during the 1st quarter worth $32,000. 83.69% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:MELI traded down $21.96 during midday trading on Thursday, reaching $549.17. The company’s stock had a trading volume of 1,020,548 shares, compared to its average volume of 593,917. The company has a quick ratio of 2.53, a current ratio of 2.54 and a debt-to-equity ratio of 0.36. The stock has a fifty day moving average of $617.27 and a 200 day moving average of $563.77. Mercadolibre has a twelve month low of $257.52 and a twelve month high of $698.98. The firm has a market capitalization of $29.72 billion, a PE ratio of -669.72 and a beta of 1.71.

About Mercadolibre

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.

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Earnings History and Estimates for Mercadolibre (NASDAQ:MELI)

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