$1.15 Billion in Sales Expected for Square, Inc. (NYSE:SQ) This Quarter

Wall Street analysts expect Square, Inc. (NYSE:SQ) to announce sales of $1.15 billion for the current quarter, Zacks reports. Four analysts have issued estimates for Square’s earnings, with the highest sales estimate coming in at $1.16 billion and the lowest estimate coming in at $1.15 billion. Square reported sales of $882.11 million during the same quarter last year, which would suggest a positive year over year growth rate of 30.4%. The company is expected to announce its next earnings results after the market closes on Wednesday, November 6th.

According to Zacks, analysts expect that Square will report full-year sales of $4.48 billion for the current financial year, with estimates ranging from $4.46 billion to $4.51 billion. For the next financial year, analysts expect that the business will report sales of $5.69 billion, with estimates ranging from $5.56 billion to $5.76 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Square.

Square (NYSE:SQ) last released its earnings results on Thursday, August 1st. The technology company reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.20. Square had a positive return on equity of 2.65% and a negative net margin of 1.35%. The business had revenue of $563.00 million for the quarter, compared to the consensus estimate of $557.67 million. During the same period in the previous year, the company posted $0.13 earnings per share. The company’s revenue for the quarter was up 46.2% compared to the same quarter last year.

SQ has been the topic of several analyst reports. Argus initiated coverage on Square in a report on Monday, July 8th. They issued a “buy” rating and a $94.00 target price on the stock. Bank of America set a $70.00 target price on Square and gave the stock a “hold” rating in a report on Tuesday, September 24th. ValuEngine downgraded Square from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Needham & Company LLC set a $90.00 price target on Square and gave the stock a “buy” rating in a research note on Thursday, September 12th. Finally, KeyCorp decreased their price target on Square from $100.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, September 20th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $74.17.

In other Square news, insider Alyssa Henry sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $61.86, for a total value of $1,237,200.00. Following the completion of the sale, the insider now owns 442,168 shares in the company, valued at $27,352,512.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jacqueline D. Reses sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $81.83, for a total value of $409,150.00. Following the completion of the sale, the insider now owns 373,984 shares of the company’s stock, valued at approximately $30,603,110.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,048 shares of company stock valued at $2,979,489. 21.79% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of SQ. AdvisorNet Financial Inc boosted its stake in Square by 1.5% during the second quarter. AdvisorNet Financial Inc now owns 9,338 shares of the technology company’s stock valued at $677,000 after buying an additional 140 shares during the last quarter. Atlantic Trust LLC boosted its stake in Square by 38.9% during the second quarter. Atlantic Trust LLC now owns 521 shares of the technology company’s stock valued at $38,000 after buying an additional 146 shares during the last quarter. Cresset Asset Management LLC boosted its stake in Square by 6.6% during the second quarter. Cresset Asset Management LLC now owns 2,940 shares of the technology company’s stock valued at $213,000 after buying an additional 181 shares during the last quarter. Hilltop Holdings Inc. boosted its stake in Square by 4.2% during the second quarter. Hilltop Holdings Inc. now owns 4,776 shares of the technology company’s stock valued at $347,000 after buying an additional 191 shares during the last quarter. Finally, Meridian Wealth Management LLC boosted its stake in Square by 4.4% during the first quarter. Meridian Wealth Management LLC now owns 4,677 shares of the technology company’s stock valued at $351,000 after buying an additional 199 shares during the last quarter. Institutional investors and hedge funds own 55.70% of the company’s stock.

Square stock traded up $0.16 during mid-day trading on Friday, hitting $62.19. The company had a trading volume of 5,927,697 shares, compared to its average volume of 9,887,847. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.87. The stock’s 50 day moving average price is $60.89 and its two-hundred day moving average price is $68.71. Square has a 12 month low of $49.82 and a 12 month high of $83.20. The company has a market capitalization of $25.97 billion, a PE ratio of 3,109.50, a price-to-earnings-growth ratio of 21.86 and a beta of 3.40.

About Square

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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