Equities analysts expect Square, Inc. (NYSE:SQ) to post $860.52 million in sales for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Square’s earnings, with the lowest sales estimate coming in at $825.60 million and the highest estimate coming in at $869.30 million. Square reported sales of $585.16 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 47.1%. The business is scheduled to announce its next quarterly earnings report on Wednesday, November 14th.
On average, analysts expect that Square will report full year sales of $3.23 billion for the current financial year, with estimates ranging from $3.09 billion to $3.27 billion. For the next fiscal year, analysts anticipate that the company will report sales of $4.26 billion per share, with estimates ranging from $4.11 billion to $4.48 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Square.
Square (NYSE:SQ) last issued its quarterly earnings results on Wednesday, August 1st. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.14. The business had revenue of $385.00 million for the quarter, compared to the consensus estimate of $367.99 million. Square had a negative return on equity of 3.18% and a negative net margin of 2.30%. The business’s quarterly revenue was up 60.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.07 earnings per share.
A number of equities analysts have recently issued reports on SQ shares. Morgan Stanley upped their price target on Square from $43.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 19th. Raymond James started coverage on Square in a research report on Friday, June 15th. They set a “market perform” rating on the stock. They noted that the move was a valuation call. Royal Bank of Canada upped their price target on Square to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, August 2nd. Deutsche Bank upped their price target on Square from $57.00 to $78.00 and gave the stock a “buy” rating in a research report on Tuesday, July 24th. Finally, Wolfe Research started coverage on Square in a research report on Tuesday, July 17th. They set a “market perform” rating on the stock. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $60.89.
In other Square news, insider Sivan Whiteley sold 1,875 shares of the company’s stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $69.84, for a total value of $130,950.00. Following the sale, the insider now directly owns 526,299 shares of the company’s stock, valued at $36,756,722.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the company’s stock in a transaction on Monday, June 11th. The shares were sold at an average price of $61.56, for a total transaction of $24,624,000.00. Following the completion of the sale, the director now directly owns 468,223 shares in the company, valued at $28,823,807.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,758,111 shares of company stock worth $123,614,502. 27.99% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of SQ. Whale Rock Capital Management LLC purchased a new stake in Square in the first quarter valued at $180,818,000. State Treasurer State of Michigan boosted its stake in shares of Square by 82.2% during the 1st quarter. State Treasurer State of Michigan now owns 2,540,500 shares of the technology company’s stock worth $124,993,000 after acquiring an additional 1,146,219 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of Square by 121.7% during the 1st quarter. Hsbc Holdings PLC now owns 1,523,396 shares of the technology company’s stock worth $74,951,000 after acquiring an additional 836,256 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Square during the 1st quarter worth about $40,131,000. Finally, American Century Companies Inc. boosted its stake in shares of Square by 2,070.5% during the 2nd quarter. American Century Companies Inc. now owns 827,790 shares of the technology company’s stock worth $51,025,000 after acquiring an additional 789,651 shares in the last quarter. 52.04% of the stock is currently owned by institutional investors.
Shares of SQ stock traded up $1.43 during trading hours on Monday, reaching $89.97. 10,495,000 shares of the company’s stock were exchanged, compared to its average volume of 10,958,731. The company has a market cap of $36.34 billion, a PE ratio of -899.70 and a beta of 4.36. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.99. Square has a fifty-two week low of $26.40 and a fifty-two week high of $91.64.
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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