Square (NYSE:SQ) Issues FY 2019 Earnings Guidance

Square (NYSE:SQ) issued an update on its FY 2019 earnings guidance on Thursday morning. The company provided EPS guidance of $0.74-0.78 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.76. The company issued revenue guidance of $2.25-2.28 billion, compared to the consensus revenue estimate of $2.28 billion.Square also updated its FY19 guidance to $0.74-0.78 EPS.

Square stock traded down $11.38 during mid-day trading on Friday, reaching $69.60. The stock had a trading volume of 43,696,160 shares, compared to its average volume of 7,669,453. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.50 and a quick ratio of 1.50. Square has a fifty-two week low of $49.82 and a fifty-two week high of $101.15. The company has a 50-day simple moving average of $76.34. The stock has a market cap of $34.25 billion, a price-to-earnings ratio of 3,480.00, a PEG ratio of 21.71 and a beta of 3.31.

Square (NYSE:SQ) last announced its quarterly earnings data 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. Square had a positive return on equity of 2.68% and a negative net margin of 1.35%. The firm had revenue of $563.00 million during the quarter, compared to analysts’ expectations of $557.67 million. During the same quarter last year, the firm posted $0.13 earnings per share. The company’s revenue for the quarter was up 46.2% compared to the same quarter last year. As a group, equities research analysts expect that Square will post 0.15 earnings per share for the current year.

SQ has been the topic of a number of recent research reports. Wedbush restated a neutral rating on shares of Square in a report on Monday, July 1st. Zacks Investment Research upgraded Square from a hold rating to a buy rating and set a $77.00 target price on the stock in a report on Tuesday, May 7th. BMO Capital Markets dropped their target price on Square to $90.00 and set a market perform rating on the stock in a report on Friday, May 3rd. BTIG Research restated a sell rating and issued a $30.00 target price on shares of Square in a report on Sunday. Finally, Citigroup set a $95.00 target price on Square and gave the company a buy rating in a report on Friday, July 19th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty have assigned a buy rating to the company. Square presently has a consensus rating of Buy and a consensus target price of $85.42.

In related news, insider Ajmere Dale sold 2,296 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $60.86, for a total transaction of $139,734.56. Following the completion of the transaction, the insider now directly owns 79,725 shares in the company, valued at $4,852,063.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Alyssa Henry sold 20,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $64.20, for a total value of $1,284,000.00. Following the transaction, the insider now owns 459,793 shares of the company’s stock, valued at $29,518,710.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,249 shares of company stock valued at $5,144,475. 21.79% 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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