Equities analysts expect Square, Inc. (NYSE:SQ) to announce sales of $909.18 million for the current fiscal quarter, according to Zacks. Nine analysts have made estimates for Square’s earnings. The highest sales estimate is $937.28 million and the lowest is $870.10 million. Square posted sales of $616.04 million during the same quarter last year, which would indicate a positive year over year growth rate of 47.6%. The company is scheduled to report its next quarterly earnings results on Tuesday, February 26th.
According to Zacks, analysts expect that Square will report full year sales of $3.26 billion for the current fiscal year, with estimates ranging from $3.13 billion to $3.30 billion. For the next year, analysts anticipate that the business will report sales of $4.39 billion, with estimates ranging from $4.28 billion to $4.64 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Square.
Square (NYSE:SQ) last posted its quarterly earnings data on Wednesday, November 7th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $431.00 million for the quarter, compared to the consensus estimate of $414.19 million. Square had a negative net margin of 0.87% and a negative return on equity of 1.11%. The firm’s revenue was up 67.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.07 earnings per share.
A number of equities analysts recently issued reports on the stock. Stephens dropped their price objective on shares of Square from $85.00 to $75.00 and set an “equal weight” rating on the stock in a report on Thursday, November 29th. They noted that the move was a valuation call. SunTrust Banks raised their price objective on shares of Square to $74.00 and gave the stock a “buy” rating in a report on Wednesday, October 17th. They noted that the move was a valuation call. Canaccord Genuity raised shares of Square from a “hold” rating to a “buy” rating and raised their price objective for the stock from $60.00 to $90.00 in a report on Friday, October 12th. Wedbush downgraded shares of Square from a “positive” rating to a “neutral” rating and set a $77.00 price objective on the stock. in a report on Thursday, November 8th. Finally, Susquehanna Bancshares reissued a “neutral” rating on shares of Square in a report on Thursday, November 8th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $83.82.
Shares of SQ traded up $0.13 on Friday, reaching $66.23. The company’s stock had a trading volume of 14,437,055 shares, compared to its average volume of 18,926,326. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.80. The company has a market cap of $27.26 billion, a price-to-earnings ratio of -662.30, a PEG ratio of 32.29 and a beta of 3.79. Square has a 12-month low of $36.76 and a 12-month high of $101.15.
In related news, insider Ajmere Dale sold 2,048 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $71.76, for a total value of $146,964.48. Following the sale, the insider now owns 88,621 shares in the company, valued at $6,359,442.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction on Wednesday, October 24th. The stock was sold at an average price of $72.32, for a total transaction of $28,928,000.00. Following the completion of the sale, the director now owns 472,275 shares in the company, valued at approximately $34,154,928. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,620,097 shares of company stock worth $176,615,860. Company insiders own 27.99% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Centaurus Financial Inc. purchased a new position in Square during the second quarter worth $100,000. Columbia Asset Management purchased a new position in Square during the third quarter worth $114,000. Panagora Asset Management Inc. purchased a new position in Square during the third quarter worth $119,000. Girard Partners LTD. purchased a new position in Square during the third quarter worth $138,000. Finally, Rehmann Capital Advisory Group boosted its stake in Square by 649.8% during the second quarter. Rehmann Capital Advisory Group now owns 2,317 shares of the technology company’s stock worth $143,000 after buying an additional 2,008 shares during the period. Institutional investors own 47.96% of the company’s stock.
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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