Wall Street analysts expect that Square, Inc. (NYSE:SQ) will announce $1.18 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Square’s earnings, with the highest sales estimate coming in at $1.27 billion and the lowest estimate coming in at $1.16 billion. Square posted sales of $932.53 million in the same quarter last year, which suggests a positive year over year growth rate of 26.5%. The firm is expected to issue its next earnings report on Wednesday, February 26th.
According to Zacks, analysts expect that Square will report full-year sales of $4.57 billion for the current fiscal year, with estimates ranging from $4.43 billion to $4.67 billion. For the next fiscal year, analysts expect that the business will post sales of $5.57 billion, with estimates ranging from $5.34 billion to $5.88 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Square.
Square (NYSE:SQ) last released its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. Square had a positive return on equity of 5.72% and a negative net margin of 1.01%. The company had revenue of $602.00 million for the quarter, compared to analyst estimates of $596.85 million. During the same period in the previous year, the company posted $0.13 EPS. The firm’s revenue for the quarter was up 39.7% compared to the same quarter last year.
SQ has been the topic of a number of analyst reports. Needham & Company LLC decreased their price objective on Square from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Susquehanna Bancshares upgraded Square from a “neutral” rating to a “positive” rating and set a $77.00 target price on the stock in a research note on Friday, October 11th. Evercore ISI decreased their target price on Square from $50.00 to $37.00 and set an “underperform” rating on the stock in a research note on Thursday, November 7th. KeyCorp decreased their target price on Square from $100.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, September 20th. Finally, ValuEngine upgraded Square from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seventeen have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $72.07.
Shares of NYSE:SQ traded up $1.06 during midday trading on Wednesday, reaching $68.81. 5,259,250 shares of the company traded hands, compared to its average volume of 8,674,734. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. Square has a 12 month low of $49.82 and a 12 month high of $83.20. The firm has a market capitalization of $28.97 billion, a price-to-earnings ratio of 3,440.25, a price-to-earnings-growth ratio of 16.57 and a beta of 3.38. The firm’s fifty day moving average price is $62.66 and its two-hundred day moving average price is $66.45.
In related news, insider Jacqueline D. Reses sold 90,455 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $62.28, for a total transaction of $5,633,537.40. Following the completion of the sale, the insider now directly owns 368,157 shares in the company, valued at approximately $22,928,817.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alyssa Henry sold 20,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $60.26, for a total value of $1,205,200.00. Following the sale, the insider now owns 442,168 shares of the company’s stock, valued at $26,645,043.68. The disclosure for this sale can be found here. Insiders sold a total of 112,503 shares of company stock valued at $6,966,676 over the last quarter. Company insiders own 21.79% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. WT Wealth Management purchased a new stake in Square during the 3rd quarter valued at about $250,000. Cetera Advisors LLC boosted its holdings in Square by 149.8% during the 3rd quarter. Cetera Advisors LLC now owns 39,975 shares of the technology company’s stock valued at $2,468,000 after acquiring an additional 23,971 shares during the period. Cetera Advisor Networks LLC boosted its holdings in Square by 5.9% during the 3rd quarter. Cetera Advisor Networks LLC now owns 9,413 shares of the technology company’s stock valued at $579,000 after acquiring an additional 527 shares during the period. Miracle Mile Advisors LLC purchased a new stake in Square during the 3rd quarter valued at about $5,442,000. Finally, Banco Santander S.A. purchased a new stake in Square during the 3rd quarter valued at about $227,000. Institutional investors own 55.57% of the company’s stock.
Square Company Profile
Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts EMV® chip cards and Near Field Communication payments; Chip card reader, which accepts EMV® chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions.
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