Square (SQ) Updates FY 2018 Earnings Guidance

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Square (NYSE:SQ) issued an update on its FY 2018 earnings guidance on Wednesday morning. 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 guidance to $0.12-0.13 EPS.

Square stock opened at $75.23 on Friday. Square has a 52 week low of $34.14 and a 52 week high of $101.15. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.99. The company has a market cap of $31.73 billion, a price-to-earnings ratio of -752.30 and a beta of 4.30.

Square (NYSE:SQ) last posted its earnings results on Wednesday, November 7th. The technology company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. Square had a negative net margin of 2.30% and a negative return on equity of 3.18%. The firm had revenue of $431.00 million for the quarter, compared to analysts’ expectations of $414.19 million. During the same quarter last year, the firm earned $0.07 EPS. The company’s quarterly revenue was up 67.7% compared to the same quarter last year. As a group, sell-side analysts expect that Square will post -0.04 earnings per share for the current fiscal year.

SQ has been the topic of a number of research reports. Morgan Stanley lifted their price target on shares of Square from $43.00 to $75.00 and gave the stock an equal weight rating in a report on Thursday, July 19th. Royal Bank of Canada lifted their price target on shares of Square to $82.00 and gave the stock an outperform rating in a report on Thursday, August 2nd. Evercore ISI set a $101.00 price target on shares of Square and gave the stock an outperform rating in a report on Friday, September 21st. Deutsche Bank lifted their price target on shares of Square from $57.00 to $78.00 and gave the stock a buy rating in a report on Tuesday, July 24th. Finally, Wolfe Research initiated coverage on shares of Square in a report on Tuesday, July 17th. They issued a market perform rating on the stock. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Square presently has a consensus rating of Hold and a consensus price target of $78.59.

In other news, insider Sivan Whiteley sold 1,875 shares of the business’s stock in a transaction on 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 directly owns 121,708 shares in the company, valued at approximately $9,456,711.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jack Dorsey sold 103,035 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $73.93, for a total transaction of $7,617,377.55. The disclosure for this sale can be found here. Insiders have sold a total of 2,197,615 shares of company stock worth $179,553,083 in the last three months. Insiders own 27.99% of the company’s stock.

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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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