Square, Inc. (SQ) Expected to Announce Earnings of $0.13 Per Share

Analysts expect that Square, Inc. (NYSE:SQ) will report earnings per share (EPS) of $0.13 for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Square’s earnings. The lowest EPS estimate is $0.12 and the highest is $0.15. Square posted earnings of $0.08 per share in the same quarter last year, which would suggest a positive year over year growth rate of 62.5%. The firm is expected to issue its next quarterly earnings results on Tuesday, February 26th.

According to Zacks, analysts expect that Square will report full-year earnings of $0.46 per share for the current fiscal year, with EPS estimates ranging from $0.45 to $0.51. For the next financial year, analysts expect that the company will post earnings of $0.70 per share, with EPS estimates ranging from $0.63 to $0.77. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Square.

Square (NYSE:SQ) last announced its earnings results on Wednesday, November 7th. The technology company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. The firm had revenue of $431.00 million for the quarter, compared to the consensus estimate of $414.19 million. Square had a negative return on equity of 1.11% and a negative net margin of 0.87%. The business’s quarterly revenue was up 67.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.07 EPS.

A number of research analysts have recently issued reports on SQ shares. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price objective (up from $76.00) on shares of Square in a research note on Wednesday, September 19th. BTIG Research started coverage on Square in a research note on Thursday, October 11th. They issued a “sell” rating on the stock. Canaccord Genuity raised Square from a “hold” rating to a “buy” rating and boosted their price objective for the company from $60.00 to $90.00 in a research note on Friday, October 12th. Credit Suisse Group boosted their price objective on Square from $81.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, October 10th. Finally, Buckingham Research boosted their price objective on Square from $85.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, September 26th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and nineteen have assigned a buy rating to the stock. Square currently has a consensus rating of “Hold” and an average price target of $81.82.

Shares of SQ opened at $62.62 on Friday. The stock has a market cap of $25.89 billion, a price-to-earnings ratio of -626.20 and a beta of 4.30. Square has a 12 month low of $34.14 and a 12 month high of $101.15. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.54 and a current ratio of 1.54.

In other Square news, insider Sivan Whiteley sold 1,875 shares of the business’s stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $77.70, for a total transaction of $145,687.50. Following the completion of the sale, the insider now directly owns 121,708 shares of the company’s stock, valued at approximately $9,456,711.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jack Dorsey sold 103,035 shares of the business’s stock in a transaction that occurred on Wednesday, October 3rd. The stock was sold at an average price of $97.67, for a total value of $10,063,428.45. The disclosure for this sale can be found here. Insiders have sold a total of 2,522,615 shares of company stock valued at $202,794,134 over the last three months. Corporate insiders own 27.99% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Centaurus Financial Inc. bought a new stake in Square during the 2nd quarter worth approximately $100,000. Huntington National Bank grew its holdings in shares of Square by 1,725.0% in the second quarter. Huntington National Bank now owns 1,825 shares of the technology company’s stock valued at $112,000 after acquiring an additional 1,725 shares in the last quarter. Columbia Asset Management bought a new position in shares of Square in the third quarter valued at approximately $114,000. Panagora Asset Management Inc. bought a new position in shares of Square in the third quarter valued at approximately $119,000. Finally, Girard Partners LTD. bought a new position in shares of Square in the third quarter valued at approximately $138,000. 51.04% of the stock is owned by hedge funds and other institutional investors.

About Square

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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