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.
COPYRIGHT VIOLATION NOTICE: This news story was published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this news story on another website, it was illegally copied and republished in violation of U.S. & international copyright & trademark laws. The original version of this news story can be read at https://www.dispatchtribunal.com/2018/11/07/square-sq-updates-fy-2018-earnings-guidance.html.
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.
Recommended Story: What is the Rule of 72?
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.