Analysts Expect Square, Inc. (SQ) Will Announce Earnings of -$0.05 Per Share
Brokerages expect Square, Inc. (NYSE:SQ) to post earnings per share of ($0.05) for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Square’s earnings, with estimates ranging from ($0.07) to ($0.04). Square reported earnings of ($0.09) per share during the same quarter last year, which indicates a positive year over year growth rate of 44.4%. The company is scheduled to issue its next earnings results on Tuesday, November 7th.
On average, analysts expect that Square will report full year earnings of ($0.18) per share for the current financial year, with EPS estimates ranging from ($0.19) to ($0.16). For the next year, analysts forecast that the business will post earnings of $0.00 per share, with EPS estimates ranging from ($0.06) to $0.05. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Square.
Square (NYSE:SQ) last announced its quarterly earnings data on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. Square had a negative return on equity of 12.41% and a negative net margin of 4.13%. The business had revenue of $240.00 million during the quarter, compared to analyst estimates of $228.64 million. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. The company’s revenue was up 40.4% on a year-over-year basis.
A number of brokerages recently commented on SQ. Cantor Fitzgerald began coverage on Square in a research note on Tuesday. They set an “overweight” rating and a $31.00 price objective for the company. Bank of America Corporation began coverage on Square in a research note on Tuesday. They set a “neutral” rating for the company. Vetr cut Square from a “strong-buy” rating to a “buy” rating and set a $30.12 price objective for the company. in a research note on Tuesday. BTIG Research reaffirmed a “neutral” rating on shares of Square in a research note on Thursday, September 7th. Finally, Wedbush reaffirmed a “neutral” rating and set a $28.00 price objective on shares of Square in a research note on Wednesday, August 9th. Twelve analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $24.87.
In related news, CFO Sarah Friar sold 38,400 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $24.22, for a total value of $930,048.00. Following the completion of the sale, the chief financial officer now directly owns 375,023 shares in the company, valued at $9,083,057.06. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $27.22, for a total value of $10,888,000.00. Following the completion of the sale, the director now owns 507,385 shares of the company’s stock, valued at $13,811,019.70. The disclosure for this sale can be found here. Insiders sold 953,600 shares of company stock worth $24,816,064 in the last ninety days. 32.68% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Square by 0.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,150 shares of the technology company’s stock valued at $175,000 after buying an additional 30 shares during the period. Raymond James Trust N.A. boosted its stake in shares of Square by 1.3% in the second quarter. Raymond James Trust N.A. now owns 15,193 shares of the technology company’s stock valued at $357,000 after buying an additional 193 shares during the period. Neuberger Berman Group LLC boosted its stake in shares of Square by 2.1% in the second quarter. Neuberger Berman Group LLC now owns 10,212 shares of the technology company’s stock valued at $240,000 after buying an additional 212 shares during the period. Stifel Financial Corp boosted its stake in shares of Square by 1.8% in the first quarter. Stifel Financial Corp now owns 26,635 shares of the technology company’s stock valued at $461,000 after buying an additional 473 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Square by 1.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 46,166 shares of the technology company’s stock valued at $1,084,000 after buying an additional 513 shares during the period. Institutional investors and hedge funds own 82.02% of the company’s stock.
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Shares of Square (SQ) traded down 0.49% during midday trading on Friday, hitting $28.50. The stock had a trading volume of 19,504,752 shares. The firm’s 50-day moving average price is $25.86 and its 200-day moving average price is $21.97. The firm’s market capitalization is $10.94 billion. Square has a one year low of $10.88 and a one year high of $28.80.
Square Company Profile
Square, Inc (Square) is a commerce ecosystem. The Company enables its sellers start, run and grow their businesses. It combines software with hardware to enable sellers to turn mobile devices and computing devices into payments and point-of-sale solutions. Once a seller downloads the Square Point of Sale mobile application, they can take their first payment.
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