Block (SQ) Scheduled to Post Quarterly Earnings on Thursday

Block (NYSE:SQ) is scheduled to be announcing its earnings results after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of $0.62 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Block (NYSE:SQ) last released its quarterly earnings data on Thursday, February 22nd. The technology company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.69 billion. Block had a return on equity of 0.63% and a net margin of 0.04%. On average, analysts expect Block to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Block Trading Down 3.1 %

NYSE SQ opened at $72.99 on Wednesday. Block has a 12 month low of $38.85 and a 12 month high of $87.52. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $44.94 billion, a PE ratio of 438.12, a P/E/G ratio of 2.06 and a beta of 2.55. The stock has a 50-day simple moving average of $77.73 and a 200 day simple moving average of $67.82.

Insider Activity at Block

In related news, insider Brian Grassadonia sold 127,800 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.45, for a total transaction of $8,364,510.00. Following the sale, the insider now owns 405,224 shares of the company’s stock, valued at approximately $26,521,910.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CAO Ajmere Dale sold 500 shares of Block stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $84.75, for a total value of $42,375.00. Following the completion of the transaction, the chief accounting officer now directly owns 68,323 shares of the company’s stock, valued at approximately $5,790,374.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Brian Grassadonia sold 127,800 shares of Block stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $65.45, for a total value of $8,364,510.00. Following the completion of the transaction, the insider now directly owns 405,224 shares of the company’s stock, valued at $26,521,910.80. The disclosure for this sale can be found here. Insiders have sold a total of 363,801 shares of company stock valued at $27,284,175 in the last 90 days. 10.79% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. BTIG Research raised Block from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Tuesday, January 30th. Royal Bank of Canada upped their price objective on Block from $77.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Evercore ISI reaffirmed an “in-line” rating and set a $75.00 price objective on shares of Block in a research report on Tuesday, March 26th. Mizuho upped their price objective on Block from $99.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $60.00 price objective (down from $62.00) on shares of Block in a research report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.67.

Block 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.