Square, Inc. (SQ) Expected to Post Earnings of $0.11 Per Share

Equities research analysts expect that Square, Inc. (NYSE:SQ) will announce earnings of $0.11 per share for the current quarter, Zacks reports. Nine analysts have issued estimates for Square’s earnings. The lowest EPS estimate is $0.09 and the highest is $0.13. Square posted earnings per share of $0.07 in the same quarter last year, which would suggest a positive year-over-year growth rate of 57.1%. The business is expected to issue its next earnings results after the market closes on Wednesday, November 7th.

According to Zacks, analysts expect that Square will report full-year earnings of $0.45 per share for the current financial year, with EPS estimates ranging from $0.42 to $0.47. For the next year, analysts anticipate that the company will report earnings of $0.77 per share, with EPS estimates ranging from $0.64 to $0.86. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for Square.

Square (NYSE:SQ) last announced its quarterly earnings data on Wednesday, August 1st. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.14. The company had revenue of $385.00 million for the quarter, compared to analysts’ expectations of $367.99 million. Square had a negative return on equity of 3.18% and a negative net margin of 2.30%. Square’s revenue was up 60.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.07 earnings per share.

A number of analysts have weighed in on the company. SunTrust Banks upped their target price on Square from $45.00 to $66.00 and gave the stock a “hold” rating in a report on Friday, June 29th. Citigroup upped their target price on Square from $47.00 to $67.00 and gave the stock a “neutral” rating in a report on Thursday, June 28th. KeyCorp restated an “overweight” rating and set a $70.00 target price (up previously from $55.00) on shares of Square in a report on Tuesday, June 19th. Zacks Investment Research lowered Square from a “hold” rating to a “sell” rating in a report on Tuesday, July 3rd. Finally, Piper Jaffray Companies upped their target price on Square to $63.00 and gave the stock a “neutral” rating in a report on Tuesday, July 10th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $72.39.

In other news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the stock in a transaction on Friday, August 10th. The stock was sold at an average price of $71.26, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sivan Whiteley sold 1,875 shares of the stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $69.84, for a total value of $130,950.00. Following the sale, the insider now owns 526,299 shares of the company’s stock, valued at approximately $36,756,722.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,888,510 shares of company stock valued at $156,182,876. Company insiders own 27.99% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Centaurus Financial Inc. acquired a new position in shares of Square in the 2nd quarter valued at $100,000. Huntington National Bank increased its position in shares of Square by 1,725.0% in the 2nd 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 during the period. Envestnet Asset Management Inc. increased its position in shares of Square by 1,476.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,317 shares of the technology company’s stock valued at $114,000 after acquiring an additional 2,170 shares during the period. McKinley Carter Wealth Services Inc. acquired a new position in shares of Square in the 1st quarter valued at $138,000. Finally, Rehmann Capital Advisory Group increased its position in shares of Square by 649.8% in the 2nd quarter. Rehmann Capital Advisory Group now owns 2,317 shares of the technology company’s stock valued at $143,000 after acquiring an additional 2,008 shares during the period. Hedge funds and other institutional investors own 51.86% of the company’s stock.

Square stock traded up $4.94 during mid-day trading on Friday, reaching $73.97. 38,083,201 shares of the company were exchanged, compared to its average volume of 13,064,450. 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 cap of $40.64 billion, a P/E ratio of -739.70 and a beta of 4.33. Square has a 12-month low of $31.44 and a 12-month high of $101.15.

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.

Further Reading: How Do You Calculate Return on Investment (ROI)?

Get a free copy of the Zacks research report on Square (SQ)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Square (NYSE:SQ)

Receive News & Ratings for Square Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Square and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply