MercadoLibre, Inc. (MELI) Given Overweight Rating at Barclays PLC

Barclays PLC reaffirmed their overweight rating on shares of MercadoLibre, Inc. (NASDAQ:MELI) in a report issued on Friday, August 4th. They currently have a $275.00 price target on the stock, down from their prior price target of $290.00.

Other equities analysts have also recently issued reports about the company. Credit Suisse Group lifted their price objective on MercadoLibre from $260.00 to $290.00 and gave the company an outperform rating in a report on Monday, May 15th. BidaskClub cut MercadoLibre from a buy rating to a hold rating in a report on Wednesday, June 28th. Susquehanna Bancshares Inc reaffirmed a neutral rating and issued a $275.00 price objective (up from $213.00) on shares of MercadoLibre in a report on Tuesday, May 9th. J P Morgan Chase & Co cut MercadoLibre from an overweight rating to a neutral rating and lifted their price objective for the company from $296.24 to $300.00 in a report on Tuesday, May 16th. Finally, Goldman Sachs Group, Inc. (The) cut MercadoLibre from a buy rating to a neutral rating and dropped their price objective for the company from $309.00 to $290.00 in a report on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Hold and an average target price of $261.69.

Shares of MercadoLibre (NASDAQ MELI) traded up 0.83% on Friday, hitting $236.14. The stock had a trading volume of 672,753 shares. MercadoLibre has a 52 week low of $148.98 and a 52 week high of $297.95. The stock’s 50-day moving average price is $264.45 and its 200 day moving average price is $242.76. The company has a market cap of $10.43 billion, a PE ratio of 72.37 and a beta of 2.05.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by $0.45. The company had revenue of $316.53 million during the quarter, compared to analyst estimates of $312.16 million. MercadoLibre had a net margin of 13.37% and a return on equity of 37.59%. MercadoLibre’s revenue was up 58.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 earnings per share. On average, analysts predict that MercadoLibre will post $3.22 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Saturday, September 30th will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.60 dividend on an annualized basis and a yield of 0.25%. MercadoLibre’s dividend payout ratio is currently 18.40%.

A number of large investors have recently modified their holdings of MELI. Orbis Allan Gray Ltd raised its stake in shares of MercadoLibre by 10.2% in the second quarter. Orbis Allan Gray Ltd now owns 1,591,614 shares of the company’s stock worth $399,304,000 after buying an additional 146,891 shares in the last quarter. Koch Industries Inc. raised its stake in shares of MercadoLibre by 85,458.8% in the second quarter. Koch Industries Inc. now owns 965,959 shares of the company’s stock worth $962,000 after buying an additional 964,830 shares in the last quarter. Jennison Associates LLC raised its stake in shares of MercadoLibre by 45.9% in the second quarter. Jennison Associates LLC now owns 779,039 shares of the company’s stock worth $195,445,000 after buying an additional 245,213 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of MercadoLibre by 25.2% in the first quarter. Clearbridge Investments LLC now owns 570,066 shares of the company’s stock worth $120,552,000 after buying an additional 114,824 shares in the last quarter. Finally, William Blair Investment Management LLC raised its stake in shares of MercadoLibre by 19.3% in the first quarter. William Blair Investment Management LLC now owns 563,518 shares of the company’s stock worth $119,167,000 after buying an additional 91,256 shares in the last quarter. Institutional investors and hedge funds own 92.41% of the company’s stock.

About MercadoLibre

MercadoLibre, Inc is an e-commerce company. The Company enables commerce through its marketplace platform in Latin America, which is designed to provide users with a portfolio of services to facilitate commercial transactions. Its geographic segments are Brazil, Argentina, Mexico Venezuela and Other Countries (which includes Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Portugal, Guatemala, Bolivia, Paraguay, Uruguay and the United States of America).

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