Square, Inc. Forecasted to Post Q1 2019 Earnings of $0.01 Per Share (SQ)

Square, Inc. (NYSE:SQ) – Stock analysts at Wedbush decreased their Q1 2019 earnings per share estimates for shares of Square in a research note issued to investors on Thursday, November 1st. Wedbush analyst M. Katri now expects that the technology company will post earnings per share of $0.01 for the quarter, down from their prior forecast of $0.02. Wedbush also issued estimates for Square’s Q2 2019 earnings at $0.09 EPS, Q3 2019 earnings at $0.06 EPS and Q4 2019 earnings at $0.06 EPS.

SQ has been the topic of several other reports. ValuEngine upgraded Square from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 2nd. Wolfe Research started coverage on Square in a report on Tuesday, July 17th. They set a “market perform” rating on the stock. Deutsche Bank raised their target price on Square from $57.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday, July 24th. Stifel Nicolaus raised their target price on Square from $66.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. Finally, Goldman Sachs Group raised their target price on Square from $77.00 to $108.00 and gave the company a “buy” rating in a report on Monday, October 8th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Square has an average rating of “Buy” and an average price target of $73.36.

Shares of NYSE:SQ opened at $77.31 on Monday. The stock has a market cap of $31.91 billion, a P/E ratio of -773.10 and a beta of 4.30. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.99. Square has a one year low of $34.14 and a one year high of $101.15.

Several institutional investors and hedge funds have recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Square by 8.1% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,700,722 shares of the technology company’s stock valued at $289,753,000 after purchasing an additional 353,037 shares during the period. Nikko Asset Management Americas Inc. boosted its position in Square by 8.5% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 3,715,894 shares of the technology company’s stock valued at $229,048,000 after purchasing an additional 290,136 shares during the period. Janus Henderson Group PLC boosted its position in Square by 8.7% during the 2nd quarter. Janus Henderson Group PLC now owns 1,756,402 shares of the technology company’s stock valued at $108,265,000 after purchasing an additional 140,800 shares during the period. Northern Trust Corp boosted its position in Square by 10.0% during the 2nd quarter. Northern Trust Corp now owns 1,681,310 shares of the technology company’s stock valued at $103,635,000 after purchasing an additional 153,458 shares during the period. Finally, American Century Companies Inc. boosted its position in Square by 87.2% during the 3rd quarter. American Century Companies Inc. now owns 1,549,633 shares of the technology company’s stock valued at $153,429,000 after purchasing an additional 721,843 shares during the period. Institutional investors own 51.25% of the company’s stock.

In other news, Director James Morgan Jr. Mckelvey sold 400,000 shares of Square stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $71.26, for a total value of $28,504,000.00. Following the completion of the transaction, the director now owns 472,175 shares in the company, valued at approximately $33,647,190.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Alyssa Henry sold 75,000 shares of Square stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $72.42, for a total value of $5,431,500.00. Following the completion of the transaction, the insider now owns 519,544 shares of the company’s stock, valued at approximately $37,625,376.48. The disclosure for this sale can be found here. Insiders have sold a total of 2,597,615 shares of company stock worth $208,057,083 over the last 90 days. 27.99% of the stock is owned by company insiders.

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 and Estimates for Square (NYSE:SQ)

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