Square (SQ) Issues Q4 2018 Earnings Guidance

Square (NYSE:SQ) updated its fourth quarter 2018 earnings guidance on Wednesday. The company provided EPS guidance of $0.12-0.13 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.15. The company issued revenue guidance of $446-451 million, compared to the consensus revenue estimate of $440.08 million.Square also updated its FY 2018 guidance to $0.45-0.46 EPS.

A number of brokerages have recently issued reports on SQ. Craig Hallum reissued a sell rating and issued a $55.00 price objective (up from $37.00) on shares of Square in a research note on Thursday. Wells Fargo & Co increased their price objective on shares of Square from $60.00 to $80.00 and gave the stock a market perform rating in a research note on Thursday. Piper Jaffray Companies reduced their price objective on shares of Square from $94.00 to $92.00 and set a neutral rating for the company in a research note on Thursday. Wedbush cut shares of Square from a positive rating to a neutral rating and set a $77.00 price objective for the company. in a research note on Thursday. Finally, Susquehanna Bancshares reissued a neutral rating on shares of Square in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $78.28.

SQ stock traded down $7.83 during trading on Thursday, hitting $74.86. 21,131,193 shares of the company’s stock traded hands, compared to its average volume of 21,308,960. Square has a 52 week low of $34.14 and a 52 week high of $101.15. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $31.73 billion, a P/E ratio of -748.60 and a beta of 4.30.

Square (NYSE:SQ) last released its quarterly earnings data on Wednesday, November 7th. The technology company reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.02. Square had a negative net margin of 2.30% and a negative return on equity of 3.18%. The business had revenue of $431.00 million during the quarter, compared to analyst estimates of $414.19 million. During the same quarter last year, the business earned $0.07 earnings per share. Square’s quarterly revenue was up 67.7% compared to the same quarter last year. As a group, analysts anticipate that Square will post -0.04 EPS for the current year.

In other news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the firm’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $71.26, for a total value of $28,504,000.00. Following the completion of the sale, the director now owns 472,175 shares in the company, valued at approximately $33,647,190.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alyssa Henry sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $72.42, for a total transaction of $5,431,500.00. Following the completion of the sale, the insider now owns 519,544 shares of the company’s stock, valued at approximately $37,625,376.48. The disclosure for this sale can be found here. Insiders have sold 2,597,615 shares of company stock valued at $208,057,083 in the last quarter. 27.99% of the stock is owned by company insiders.

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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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Earnings History and Estimates for Square (NYSE:SQ)

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