Square (NYSE:SQ) Issues Q3 2019 Earnings Guidance

Square (NYSE:SQ) issued an update on its third quarter 2019 earnings guidance on Thursday morning. The company provided EPS guidance of $0.18-0.20 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.22. The company issued revenue guidance of $590-600 million, compared to the consensus revenue estimate of $598.96 million.Square also updated its FY 2019 guidance to $0.74-0.78 EPS.

Several brokerages have issued reports on SQ. Zacks Investment Research upgraded Square from a hold rating to a buy rating and set a $77.00 price target on the stock in a report on Tuesday, May 7th. Nomura increased their price target on Square from $90.00 to $100.00 and gave the stock a buy rating in a report on Friday, June 28th. BMO Capital Markets cut their price target on Square to $90.00 and set a market perform rating on the stock in a report on Friday, May 3rd. Evercore ISI lowered Square from an outperform rating to an underperform rating and cut their price target for the stock from $101.00 to $64.00 in a report on Thursday. Finally, Wedbush reiterated a neutral rating on shares of Square in a report on Monday, July 1st. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $87.40.

Shares of SQ traded down $11.38 on Friday, reaching $69.60. 43,696,160 shares of the company’s stock traded hands, compared to its average volume of 6,864,466. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a market capitalization of $34.01 billion, a PE ratio of 3,480.00, a PEG ratio of 21.55 and a beta of 3.31. The business has a 50 day moving average price of $76.34. Square has a 52-week low of $49.82 and a 52-week high of $101.15.

Square (NYSE:SQ) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.20. The company had revenue of $563.00 million during the quarter, compared to the consensus estimate of $557.67 million. Square had a positive return on equity of 1.86% and a negative net margin of 1.47%. Square’s revenue was up 46.2% on a year-over-year basis. During the same period last year, the business posted $0.13 earnings per share. As a group, analysts forecast that Square will post 0.15 earnings per share for the current year.

In other Square news, insider Alyssa Henry sold 20,000 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $77.69, for a total value of $1,553,800.00. Following the completion of the sale, the insider now directly owns 449,261 shares of the company’s stock, valued at $34,903,087.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ajmere Dale sold 2,296 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $60.86, for a total value of $139,734.56. Following the completion of the sale, the insider now directly owns 79,725 shares of the company’s stock, valued at $4,852,063.50. The disclosure for this sale can be found here. Insiders have sold 72,249 shares of company stock valued at $5,144,475 over the last ninety days. 21.79% of the stock is currently 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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