Q2 2022 Earnings Forecast for MercadoLibre, Inc. (NASDAQ:MELI) Issued By Jefferies Financial Group

MercadoLibre, Inc. (NASDAQ:MELIGet Rating) – Jefferies Financial Group dropped their Q2 2022 earnings per share estimates for MercadoLibre in a research report issued to clients and investors on Tuesday, May 31st. Jefferies Financial Group analyst J. Colantuoni now anticipates that the company will post earnings of $1.92 per share for the quarter, down from their previous estimate of $2.28. Jefferies Financial Group also issued estimates for MercadoLibre’s Q3 2022 earnings at $2.29 EPS, FY2022 earnings at $6.61 EPS, Q1 2023 earnings at $2.87 EPS, Q2 2023 earnings at $3.04 EPS, Q3 2023 earnings at $3.61 EPS, Q4 2023 earnings at $2.20 EPS, FY2023 earnings at $11.71 EPS and FY2024 earnings at $18.24 EPS.

MercadoLibre (NASDAQ:MELIGet Rating) last announced its earnings results on Thursday, May 5th. The company reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.36). MercadoLibre had a return on equity of 21.93% and a net margin of 2.30%. The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter last year, the business posted $0.31 EPS. The firm’s revenue was up 63.1% compared to the same quarter last year.

A number of other equities analysts have also weighed in on MELI. TheStreet upgraded shares of MercadoLibre from a “d+” rating to a “c-” rating in a report on Friday, May 6th. Credit Suisse Group reduced their target price on shares of MercadoLibre from $1,685.00 to $1,440.00 in a report on Monday, May 2nd. Susquehanna reduced their target price on shares of MercadoLibre from $1,990.00 to $1,750.00 and set a “positive” rating on the stock in a report on Wednesday, February 23rd. Susquehanna Bancshares reduced their target price on shares of MercadoLibre from $1,990.00 to $1,750.00 and set a “positive” rating on the stock in a report on Wednesday, February 23rd. Finally, Citigroup reduced their target price on shares of MercadoLibre from $1,750.00 to $1,500.00 and set a “buy” rating on the stock in a report on Tuesday, April 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $1,670.50.

Shares of NASDAQ MELI opened at $836.74 on Friday. MercadoLibre has a 1 year low of $640.00 and a 1 year high of $1,970.13. The firm’s 50 day moving average price is $981.38 and its 200 day moving average price is $1,087.90. The firm has a market cap of $42.15 billion, a P/E ratio of 227.99 and a beta of 1.58. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.36 and a current ratio of 1.40.

Hedge funds have recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC acquired a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $27,000. Ahrens Investment Partners LLC acquired a new stake in shares of MercadoLibre during the 4th quarter worth about $27,000. Retirement Planning Co of New England Inc. acquired a new stake in shares of MercadoLibre during the 4th quarter worth about $26,000. Masso Torrence Wealth Management Inc. acquired a new stake in shares of MercadoLibre during the 4th quarter worth about $31,000. Finally, San Luis Wealth Advisors LLC acquired a new stake in shares of MercadoLibre during the 1st quarter worth about $31,000. Institutional investors and hedge funds own 79.61% of the company’s stock.

In other MercadoLibre news, CAO Marcelo Melamud acquired 55 shares of the stock in a transaction that occurred on Monday, March 14th. The stock was acquired at an average price of $881.82 per share, with a total value of $48,500.10. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP La Serna Juan Martin De acquired 50 shares of the stock in a transaction that occurred on Friday, March 11th. The shares were acquired at an average cost of $931.00 per share, with a total value of $46,550.00. The disclosure for this purchase can be found here. Insiders bought a total of 205 shares of company stock valued at $188,950 in the last three months. Insiders own 0.27% of the company’s stock.

About MercadoLibre (Get Rating)

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; and Mercado Pago 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, as well as allows users to transfer money through their websites or on the apps.

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Earnings History and Estimates for MercadoLibre (NASDAQ:MELI)

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