Square, Inc. (NYSE:SQ) Expected to Announce Quarterly Sales of $1.19 Billion

Wall Street analysts expect that Square, Inc. (NYSE:SQ) will report sales of $1.19 billion for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Square’s earnings, with the lowest sales estimate coming in at $1.15 billion and the highest estimate coming in at $1.25 billion. Square posted sales of $882.11 million in the same quarter last year, which would indicate a positive year over year growth rate of 34.9%. The company is expected to announce its next quarterly earnings report on Wednesday, November 6th.

On average, analysts expect that Square will report full year sales of $4.55 billion for the current fiscal year, with estimates ranging from $4.46 billion to $4.70 billion. For the next year, analysts anticipate that the company will post sales of $5.84 billion, with estimates ranging from $5.56 billion to $6.24 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Square.

Square (NYSE:SQ) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.20. The company had revenue of $563.00 million for the quarter, compared to analysts’ expectations of $557.67 million. Square had a positive return on equity of 2.65% and a negative net margin of 1.35%. The firm’s revenue for the quarter was up 46.2% on a year-over-year basis. During the same period last year, the firm earned $0.13 EPS.



Several analysts have recently commented on the company. Jefferies Financial Group set a $78.00 target price on Square and gave the stock a “hold” rating in a research report on Friday, August 2nd. Rosenblatt Securities assumed coverage on Square in a research report on Monday, August 19th. They issued a “neutral” rating and a $68.00 target price for the company. Zacks Investment Research raised Square from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a research report on Tuesday, May 7th. BTIG Research reaffirmed a “sell” rating and issued a $30.00 target price on shares of Square in a research report on Sunday, August 4th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $80.00 target price (down previously from $94.00) on shares of Square in a research report on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nineteen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $83.91.

In other news, insider Jacqueline D. Reses sold 5,000 shares of Square 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 transaction, the insider now directly owns 373,984 shares in the company, valued at $30,603,110.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alyssa Henry sold 20,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $70.22, for a total value of $1,404,400.00. Following the transaction, the insider now owns 460,132 shares in the company, valued at $32,310,469.04. The disclosure for this sale can be found here. Insiders sold 77,249 shares of company stock worth $5,506,825 over the last quarter. 21.79% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Western Wealth Management LLC increased its stake in Square by 1.9% during the first quarter. Western Wealth Management LLC now owns 14,395 shares of the technology company’s stock valued at $1,063,000 after acquiring an additional 270 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Square by 100.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 70,549 shares of the technology company’s stock valued at $5,286,000 after purchasing an additional 35,438 shares during the period. State of Wisconsin Investment Board grew its stake in shares of Square by 81.0% in the 1st quarter. State of Wisconsin Investment Board now owns 177,665 shares of the technology company’s stock valued at $13,311,000 after purchasing an additional 79,533 shares during the period. Legacy Bridge LLC grew its stake in shares of Square by 3.2% in the 1st quarter. Legacy Bridge LLC now owns 6,360 shares of the technology company’s stock valued at $476,000 after purchasing an additional 200 shares during the period. Finally, Tributary Capital Management LLC bought a new stake in shares of Square in the 2nd quarter valued at approximately $1,472,000. Hedge funds and other institutional investors own 52.21% of the company’s stock.

Shares of NYSE SQ traded down $2.90 during mid-day trading on Wednesday, reaching $61.78. The company had a trading volume of 8,689,912 shares, compared to its average volume of 10,773,088. 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 has a market cap of $27.94 billion, a PE ratio of 3,089.00, a P/E/G ratio of 22.23 and a beta of 3.31. The company has a 50-day moving average price of $72.96 and a two-hundred day moving average price of $72.24. Square has a 1-year low of $49.82 and a 1-year high of $101.15.

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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