Mercadolibre Inc (NASDAQ:MELI) Expected to Announce Quarterly Sales of $497.58 Million

Equities research analysts expect Mercadolibre Inc (NASDAQ:MELI) to post $497.58 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Mercadolibre’s earnings. The highest sales estimate is $505.40 million and the lowest is $491.70 million. Mercadolibre reported sales of $335.38 million during the same quarter last year, which indicates a positive year over year growth rate of 48.4%. The company is expected to announce its next earnings results on Wednesday, August 14th.

On average, analysts expect that Mercadolibre will report full-year sales of $2.15 billion for the current year, with estimates ranging from $2.07 billion to $2.21 billion. For the next fiscal year, analysts forecast that the firm will report sales of $2.99 billion, with estimates ranging from $2.80 billion to $3.19 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Mercadolibre.

Mercadolibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.14. Mercadolibre had a negative return on equity of 1.55% and a negative net margin of 0.74%. The business had revenue of $474.00 million during the quarter, compared to analysts’ expectations of $423.19 million. During the same quarter last year, the company posted ($0.29) earnings per share. Mercadolibre’s quarterly revenue was up 47.7% on a year-over-year basis.

A number of equities research analysts have recently weighed in on MELI shares. BTIG Research downgraded shares of Mercadolibre from a “buy” rating to a “neutral” rating and set a $561.01 price target for the company. in a research report on Tuesday, June 4th. ValuEngine downgraded shares of Mercadolibre from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 3rd. Zacks Investment Research upgraded shares of Mercadolibre from a “hold” rating to a “buy” rating and set a $608.00 price target for the company in a research report on Friday, May 10th. BBA Icatu Securities downgraded shares of Mercadolibre from an “outperform” rating to an “underperform” rating and lifted their price target for the company from $400.00 to $520.00 in a research report on Wednesday, May 8th. Finally, Barclays reissued a “buy” rating on shares of Mercadolibre in a research note on Sunday, May 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $500.08.

A number of large investors have recently made changes to their positions in MELI. Harvest Group Wealth Management LLC bought a new stake in shares of Mercadolibre in the first quarter worth $28,000. Icon Wealth Partners LLC bought a new stake in shares of Mercadolibre in the first quarter worth $32,000. Shine Investment Advisory Services Inc. bought a new stake in shares of Mercadolibre in the first quarter worth $34,000. Carroll Financial Associates Inc. grew its stake in shares of Mercadolibre by 59.5% in the first quarter. Carroll Financial Associates Inc. now owns 67 shares of the company’s stock worth $34,000 after purchasing an additional 25 shares during the last quarter. Finally, Advisory Alpha LLC bought a new stake in shares of Mercadolibre in the first quarter worth $37,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Mercadolibre stock traded up $9.98 during midday trading on Friday, reaching $623.28. 25,785 shares of the company’s stock were exchanged, compared to its average volume of 646,896. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.82 and a current ratio of 2.82. The stock has a market capitalization of $30.73 billion, a P/E ratio of -767.32 and a beta of 1.84. Mercadolibre has a 52 week low of $257.52 and a 52 week high of $634.00.

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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