$367.98 Million in Sales Expected for Mercadolibre Inc (MELI) This Quarter

Brokerages forecast that Mercadolibre Inc (NASDAQ:MELI) will announce sales of $367.98 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Mercadolibre’s earnings. The highest sales estimate is $380.40 million and the lowest is $355.95 million. Mercadolibre posted 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 earnings report on Thursday, November 1st.

According to Zacks, analysts expect that Mercadolibre will report full year sales of $1.45 billion for the current financial year, with estimates ranging from $1.43 billion to $1.48 billion. For the next financial year, analysts anticipate that the company will report sales of $2.10 billion, with estimates ranging from $1.98 billion to $2.21 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Mercadolibre.

Mercadolibre (NASDAQ:MELI) last posted its 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). The firm had revenue of $335.40 million for the quarter, compared to the consensus estimate of $333.98 million. Mercadolibre had a positive return on equity of 4.32% and a negative net margin of 4.39%. The business’s revenue was up 18.1% on a year-over-year basis. During the same period last year, the company posted $0.61 EPS.

MELI has been the topic of a number of analyst reports. KeyCorp raised shares of Mercadolibre from a “sector weight” rating to an “overweight” rating and set a $350.00 target price on the stock in a report on Monday, June 25th. BidaskClub raised shares of Mercadolibre from a “sell” rating to a “hold” rating in a report on Tuesday, July 10th. Credit Suisse Group upped their target price on shares of Mercadolibre from $380.00 to $425.00 and gave the stock an “outperform” rating in a report on Monday, July 16th. Zacks Investment Research raised shares of Mercadolibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 16th. Finally, Barclays upped their target price on shares of Mercadolibre from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Tuesday, July 17th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $366.25.

Large investors have recently modified their holdings of the company. HMS Capital Management LLC bought a new position in shares of Mercadolibre in the 2nd quarter worth $211,000. Paloma Partners Management Co purchased a new stake in shares of Mercadolibre in the 2nd quarter valued at $239,000. Natixis purchased a new stake in shares of Mercadolibre in the 2nd quarter valued at $253,000. Sawtooth Solutions LLC purchased a new stake in shares of Mercadolibre in the 2nd quarter valued at $257,000. Finally, Financial Enhancement Group LLC purchased a new stake in shares of Mercadolibre in the 2nd quarter valued at $259,000. 95.24% of the stock is currently owned by hedge funds and other institutional investors.

Mercadolibre stock opened at $298.76 on Friday. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.15 and a current ratio of 1.15. The company has a market cap of $15.03 billion, a P/E ratio of 121.00 and a beta of 2.03. Mercadolibre has a 1-year low of $217.06 and a 1-year high of $417.91.

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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