Square (SQ) Updates FY 2018 Earnings Guidance

Square (NYSE:SQ) updated its FY 2018 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.45-0.46 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.45. The company issued revenue guidance of $1.569-1.574 billion, compared to the consensus revenue estimate of $1.55 billion.Square also updated its Q4 2018 guidance to $0.12-0.13 EPS.

Several equities research analysts have weighed in on the stock. Piper Jaffray Companies lifted their price target on shares of Square to $63.00 and gave the company a neutral rating in a research note on Tuesday, July 10th. Needham & Company LLC boosted their target price on shares of Square from $65.00 to $75.00 and gave the stock a buy rating in a research report on Thursday, August 2nd. Stifel Nicolaus boosted their target price on shares of Square from $66.00 to $72.00 and gave the stock a buy rating in a research report on Tuesday, July 31st. Citigroup raised shares of Square from a neutral rating to a buy rating and set a $90.00 target price for the company in a research report on Tuesday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Square to $60.00 and gave the stock an overweight rating in a research report on Thursday, August 2nd. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Square currently has a consensus rating of Buy and an average target price of $73.36.

Square stock traded up $5.38 during midday trading on Wednesday, hitting $82.69. 24,228,300 shares of the stock were exchanged, compared to its average volume of 13,439,539. Square has a 52-week low of $34.14 and a 52-week high of $101.15. The stock has a market cap of $31.91 billion, a PE ratio of -826.90 and a beta of 4.30. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.18 and a current ratio of 2.18.

In other Square news, CEO Jack Dorsey sold 103,035 shares of the business’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $73.93, for a total value of $7,617,377.55. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Sivan Whiteley sold 1,875 shares of the business’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $77.70, for a total transaction of $145,687.50. Following the completion of the transaction, the insider now owns 121,708 shares in the company, valued at $9,456,711.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,597,615 shares of company stock worth $208,057,083. 27.99% of the stock is owned by corporate insiders.

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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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