Square (NYSE:SQ) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Square (NYSE:SQ) released its quarterly earnings data on Wednesday. The technology company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.05, Briefing.com reports. The company had revenue of $602.00 million during the quarter, compared to analyst estimates of $596.85 million. Square had a negative net margin of 1.35% and a positive return on equity of 2.65%. Square’s revenue for the quarter was up 39.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.13 EPS. Square updated its Q4 guidance to $0.19-0.21 EPS.

NYSE SQ traded down $2.19 during trading on Friday, hitting $62.22. 8,385,968 shares of the company’s stock traded hands, compared to its average volume of 6,025,921. The stock has a market capitalization of $26.08 billion, a price-to-earnings ratio of 3,111.00, a PEG ratio of 21.95 and a beta of 3.38. Square has a 12-month low of $49.82 and a 12-month high of $83.20. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.49 and a current ratio of 1.49. The business has a 50 day moving average of $61.22 and a 200-day moving average of $66.95.

A number of analysts have commented on SQ shares. JPMorgan Chase & Co. decreased their price target on shares of Square from $87.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday. Guggenheim reaffirmed a “buy” rating and set a $80.00 price objective (down from $94.00) on shares of Square in a report on Monday, August 5th. BTIG Research reaffirmed a “sell” rating and set a $30.00 price objective on shares of Square in a report on Sunday, August 4th. Rosenblatt Securities began coverage on shares of Square in a report on Monday, August 19th. They set a “neutral” rating and a $68.00 price objective on the stock. Finally, KeyCorp cut their price objective on shares of Square from $100.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, September 20th. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nineteen have assigned a buy rating to the stock. Square currently has a consensus rating of “Hold” and a consensus price target of $72.94.

In other Square news, insider Alyssa Henry sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $61.86, for a total transaction of $1,237,200.00. Following the sale, the insider now directly owns 442,168 shares of the company’s stock, valued at $27,352,512.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Ajmere Dale sold 2,048 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $62.47, for a total transaction of $127,938.56. Following the sale, the chief accounting officer now directly owns 64,050 shares in the company, valued at $4,001,203.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,048 shares of company stock worth $2,570,339. Insiders own 21.79% 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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Earnings History for Square (NYSE:SQ)

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