Zacks: Analysts Anticipate Mercadolibre Inc (MELI) Will Announce Quarterly Sales of $367.98 Million

Equities research analysts expect that Mercadolibre Inc (NASDAQ:MELI) will announce sales of $367.98 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Mercadolibre’s earnings, with estimates ranging from $355.95 million to $380.40 million. Mercadolibre reported sales of $370.66 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 0.7%. The firm is expected to report its next quarterly earnings results on Thursday, November 1st.

On average, analysts expect that Mercadolibre will report full year sales of $1.45 billion for the current fiscal year, with estimates ranging from $1.43 billion to $1.48 billion. For the next fiscal year, analysts anticipate that the business will post sales of $2.10 billion, with estimates ranging from $1.98 billion to $2.21 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Mercadolibre.

Mercadolibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, August 8th. The company reported ($0.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.04). Mercadolibre had a negative net margin of 4.39% and a positive return on equity of 4.32%. 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 previous year, the business earned $0.61 EPS. The company’s revenue for the quarter was up 18.1% on a year-over-year basis.

A number of equities research analysts have weighed in on MELI shares. KeyCorp set a $400.00 price target on Mercadolibre and gave the company a “buy” rating in a research report on Wednesday, July 25th. They noted that the move was a valuation call. BidaskClub upgraded Mercadolibre from a “hold” rating to a “buy” rating in a research report on Friday, July 20th. Stifel Nicolaus upgraded Mercadolibre from a “hold” rating to a “buy” rating and set a $380.00 price target on the stock in a research report on Tuesday, August 21st. ValuEngine downgraded Mercadolibre from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 11th. Finally, Zacks Investment Research raised Mercadolibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 16th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $356.92.

Large investors have recently made changes to their positions in the company. Artisan Partners Limited Partnership grew its stake in shares of Mercadolibre by 247.8% during the second quarter. Artisan Partners Limited Partnership now owns 292,491 shares of the company’s stock valued at $87,434,000 after buying an additional 208,402 shares during the last quarter. Compass Group LLC grew its stake in shares of Mercadolibre by 15.7% during the second quarter. Compass Group LLC now owns 9,120 shares of the company’s stock valued at $2,726,000 after buying an additional 1,240 shares during the last quarter. Apertura Capital LLC grew its stake in shares of Mercadolibre by 27.1% during the second quarter. Apertura Capital LLC now owns 70,000 shares of the company’s stock valued at $20,925,000 after buying an additional 14,940 shares during the last quarter. Vident Investment Advisory LLC bought a new position in shares of Mercadolibre during the second quarter valued at about $1,240,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Mercadolibre by 1.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,962 shares of the company’s stock valued at $3,277,000 after buying an additional 207 shares during the last quarter. 95.24% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ MELI traded down $3.82 during trading hours on Tuesday, reaching $335.64. 635,265 shares of the stock traded hands, compared to its average volume of 779,663. Mercadolibre has a 1 year low of $217.06 and a 1 year 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 company has a market capitalization of $15.03 billion, a price-to-earnings ratio of 132.66 and a beta of 2.03.

Mercadolibre Company Profile

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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