Equities research analysts forecast that Square, Inc. (NYSE:SQ) will announce earnings per share (EPS) of $0.12 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Square’s earnings, with the lowest EPS estimate coming in at $0.11 and the highest estimate coming in at $0.15. Square posted earnings of ($0.04) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 400%. The firm is expected to issue its next earnings results on Wednesday, August 1st.
On average, analysts expect that Square will report full-year earnings of $0.47 per share for the current year, with EPS estimates ranging from $0.44 to $0.54. For the next financial year, analysts anticipate that the company will post earnings of $0.79 per share, with EPS estimates ranging from $0.70 to $0.92. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Square.
Square (NYSE:SQ) last released its earnings results on Wednesday, May 2nd. The technology company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Square had a negative net margin of 2.96% and a negative return on equity of 7.03%. The company had revenue of $307.00 million during the quarter, compared to the consensus estimate of $293.07 million. During the same quarter in the prior year, the firm earned $0.05 EPS. The company’s revenue was up 50.5% compared to the same quarter last year.
SQ has been the subject of a number of research analyst reports. Guggenheim reiterated a “buy” rating and issued a $50.00 target price on shares of Square in a research report on Thursday, March 1st. Needham & Company LLC increased their target price on shares of Square from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. UBS Group increased their target price on shares of Square to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Vetr downgraded shares of Square from a “strong-buy” rating to a “buy” rating and set a $51.48 target price for the company. in a research report on Tuesday, February 27th. Finally, Deutsche Bank increased their target price on shares of Square from $47.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday, March 23rd. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $49.54.
In other Square news, insider Jacqueline D. Reses sold 15,000 shares of the firm’s stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $47.51, for a total value of $712,650.00. Following the sale, the insider now directly owns 594,541 shares in the company, valued at approximately $28,246,642.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the firm’s stock in a transaction on Monday, April 16th. The stock was sold at an average price of $46.90, for a total transaction of $18,760,000.00. Following the completion of the sale, the director now owns 468,223 shares in the company, valued at $21,959,658.70. The disclosure for this sale can be found here. Insiders sold a total of 1,289,515 shares of company stock worth $70,042,500 in the last quarter. Insiders own 27.99% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. grew its position in Square by 1,476.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,317 shares of the technology company’s stock worth $114,000 after purchasing an additional 2,170 shares during the last quarter. McKinley Carter Wealth Services Inc. acquired a new stake in Square in the 1st quarter worth $138,000. Sheaff Brock Investment Advisors LLC acquired a new stake in Square in the 1st quarter worth $220,000. Profund Advisors LLC acquired a new stake in Square in the 1st quarter worth $239,000. Finally, Bronfman E.L. Rothschild L.P. boosted its position in shares of Square by 78.8% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 4,946 shares of the technology company’s stock valued at $243,000 after acquiring an additional 2,180 shares in the last quarter. Institutional investors own 51.91% of the company’s stock.
SQ stock opened at $65.75 on Friday. Square has a 12-month low of $22.66 and a 12-month high of $69.40. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 1.76. The company has a market capitalization of $26.89 billion, a price-to-earnings ratio of -657.50 and a beta of 4.32.
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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