Analysts expect Square Inc (NYSE:SQ) to post sales of $601.63 million for the current quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Square’s earnings. The lowest sales estimate is $591.70 million and the highest is $612.34 million. Square reported sales of $451.92 million during the same quarter last year, which would suggest a positive year over year growth rate of 33.1%. The business is scheduled to issue its next earnings report on Wednesday, February 28th.
According to Zacks, analysts expect that Square will report full year sales of $601.63 million for the current year, with estimates ranging from $2.19 billion to $2.21 billion. For the next year, analysts anticipate that the business will report sales of $2.83 billion per share, with estimates ranging from $2.73 billion to $2.92 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Square.
Square (NYSE:SQ) last issued its earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.02. The company had revenue of $257.12 million during the quarter, compared to analysts’ expectations of $244.95 million. Square had a negative return on equity of 7.98% and a negative net margin of 3.04%. The firm’s quarterly revenue was up 44.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.01 EPS.
Several analysts have issued reports on the company. Stephens restated a “buy” rating and issued a $41.00 target price on shares of Square in a report on Wednesday, January 10th. Credit Suisse Group restated a “positive” rating and issued a $37.00 target price (up from $31.00) on shares of Square in a report on Monday, November 20th. Citigroup lowered Square from a “buy” rating to a “neutral” rating and set a $38.00 price target on the stock. in a research note on Thursday, November 9th. Cantor Fitzgerald upped their price target on Square to $41.00 and gave the company an “overweight” rating in a research note on Thursday, November 9th. Finally, Canaccord Genuity upped their price target on Square from $26.00 to $33.00 and gave the company a “hold” rating in a research note on Thursday, November 9th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $35.83.
In other news, CFO Sarah Friar sold 38,400 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $47.24, for a total value of $1,814,016.00. Following the transaction, the chief financial officer now owns 355,566 shares in the company, valued at approximately $16,796,937.84. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $39.79, for a total value of $15,916,000.00. The disclosure for this sale can be found here. Insiders sold a total of 1,669,532 shares of company stock worth $65,210,218 in the last ninety days. 32.68% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Square by 114.7% in the 2nd quarter. FMR LLC now owns 23,888,617 shares of the technology company’s stock valued at $560,427,000 after acquiring an additional 12,764,491 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Square by 73.4% in the 2nd quarter. Vanguard Group Inc. now owns 19,034,862 shares of the technology company’s stock valued at $446,558,000 after acquiring an additional 8,058,892 shares during the last quarter. Capital World Investors increased its holdings in shares of Square by 32.8% in the 2nd quarter. Capital World Investors now owns 15,597,830 shares of the technology company’s stock valued at $365,925,000 after acquiring an additional 3,853,000 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Square by 31.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 13,302,170 shares of the technology company’s stock valued at $383,235,000 after acquiring an additional 3,147,558 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Square by 23.0% in the 2nd quarter. BlackRock Inc. now owns 6,618,987 shares of the technology company’s stock valued at $155,282,000 after acquiring an additional 1,235,662 shares during the last quarter. Institutional investors and hedge funds own 54.29% of the company’s stock.
Shares of Square (NYSE SQ) traded down $0.57 during trading hours on Tuesday, reaching $44.72. The company’s stock had a trading volume of 7,403,713 shares, compared to its average volume of 17,953,836. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.48. The stock has a market cap of $17,200.00 and a PE ratio of -263.06. Square has a 12 month low of $13.84 and a 12 month high of $49.56.
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Square, Inc (Square) is a commerce ecosystem. The Company enables its sellers start, run and grow their businesses. It combines software with hardware to enable sellers to turn mobile devices and computing devices into payments and point-of-sale solutions. Once a seller downloads the Square Point of Sale mobile application, they can take their first payment.
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