Zacks: Analysts Expect Mercadolibre Inc (NASDAQ:MELI) Will Announce Earnings of -$0.67 Per Share

Wall Street analysts expect Mercadolibre Inc (NASDAQ:MELI) to post earnings per share (EPS) of ($0.67) for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Mercadolibre’s earnings. The lowest EPS estimate is ($1.03) and the highest is ($0.42). Mercadolibre reported earnings per share of ($0.05) during the same quarter last year, which would suggest a negative year over year growth rate of 1,240%. The company is scheduled to announce its next quarterly earnings results on Tuesday, February 25th.

According to Zacks, analysts expect that Mercadolibre will report full-year earnings of ($3.05) per share for the current fiscal year, with EPS estimates ranging from ($3.24) to ($2.86). For the next fiscal year, analysts anticipate that the firm will report earnings of ($0.87) per share, with EPS estimates ranging from ($3.95) to $0.95. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Mercadolibre.

Mercadolibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($2.96) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($2.97). The firm had revenue of $603.03 million for the quarter, compared to analysts’ expectations of $588.23 million. Mercadolibre had a negative return on equity of 1.29% and a negative net margin of 5.87%. The business’s revenue for the quarter was up 69.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.23) EPS.

MELI has been the topic of several research reports. UBS Group dropped their price objective on Mercadolibre from $730.00 to $670.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Bradesco Corretora lowered Mercadolibre from an “outperform” rating to a “neutral” rating and set a price target on the stock. in a report on Tuesday. Morgan Stanley reissued an “overweight” rating and set a $710.00 price target on shares of Mercadolibre in a report on Tuesday, January 7th. Barclays lowered their price target on Mercadolibre from $700.00 to $660.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Finally, Piper Sandler raised their price target on Mercadolibre from $675.00 to $760.00 and gave the stock an “overweight” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $666.89.

Institutional investors and hedge funds have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. boosted its holdings in Mercadolibre by 154.0% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 4,979 shares of the company’s stock valued at $2,744,000 after purchasing an additional 3,019 shares in the last quarter. BlackRock Inc. boosted its holdings in Mercadolibre by 1.0% in the 2nd quarter. BlackRock Inc. now owns 1,491,572 shares of the company’s stock valued at $912,500,000 after purchasing an additional 14,951 shares in the last quarter. Verde Servicos Internacionais S.A. boosted its holdings in Mercadolibre by 13.4% in the 4th quarter. Verde Servicos Internacionais S.A. now owns 115,486 shares of the company’s stock valued at $66,051,000 after purchasing an additional 13,649 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in Mercadolibre by 3.6% in the 3rd quarter. Public Employees Retirement Association of Colorado now owns 56,771 shares of the company’s stock valued at $31,294,000 after purchasing an additional 1,995 shares in the last quarter. Finally, Banco Santander S.A. boosted its holdings in Mercadolibre by 186.2% in the 3rd quarter. Banco Santander S.A. now owns 1,076 shares of the company’s stock valued at $593,000 after purchasing an additional 700 shares in the last quarter. 81.14% of the stock is currently owned by institutional investors.

Shares of MELI stock traded down $2.75 during mid-day trading on Monday, hitting $660.58. 272,893 shares of the stock were exchanged, compared to its average volume of 411,837. The stock’s fifty day simple moving average is $615.15 and its two-hundred day simple moving average is $587.79. The stock has a market capitalization of $32.97 billion, a price-to-earnings ratio of -257.04 and a beta of 1.59. Mercadolibre has a 12-month low of $335.28 and a 12-month high of $698.98. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.72 and a current ratio of 2.73.

Mercadolibre Company Profile

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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