Brokerages expect Square, Inc. (NYSE:SQ) to announce sales of $571.85 million for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Square’s earnings. The highest sales estimate is $576.50 million and the lowest is $566.90 million. Square reported sales of $439.00 million in the same quarter last year, which indicates a positive year over year growth rate of 30.3%. The firm is expected to issue its next earnings report after the market closes on Wednesday, November 8th.

On average, analysts expect that Square will report full-year sales of $571.85 million for the current financial year, with estimates ranging from $2.16 billion to $2.19 billion. For the next year, analysts forecast that the company will report sales of $2.77 billion per share, with estimates ranging from $2.66 billion to $2.86 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Square.

Square (NYSE:SQ) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the company posted ($0.08) EPS. The business’s revenue for the quarter was up 40.4% compared to the same quarter last year.

Several analysts have recently weighed in on the stock. Credit Suisse Group raised their price objective on shares of Square from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, August 3rd. Barclays PLC reaffirmed an “overweight” rating and set a $28.00 price objective (up previously from $21.00) on shares of Square in a report on Thursday, August 3rd. KeyCorp reaffirmed an “overweight” rating on shares of Square in a report on Tuesday, July 18th. Wedbush assumed coverage on shares of Square in a report on Thursday, August 3rd. They set a “neutral” rating and a $28.00 price objective for the company. Finally, Craig Hallum reaffirmed a “hold” rating and set a $23.00 price objective (up previously from $18.00) on shares of Square in a report on Thursday, August 3rd. Thirteen research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $25.24.

In related news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction 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 sale, the director now directly owns 507,385 shares of the company’s stock, valued at approximately $13,811,019.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sarah Friar sold 19,200 shares of the business’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $26.25, for a total transaction of $504,000.00. Following the completion of the sale, the chief financial officer now directly owns 368,791 shares in the company, valued at $9,680,763.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 972,800 shares of company stock worth $25,520,512. Insiders own 32.68% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Almanack Investment Partners LLC. bought a new stake in Square in the 2nd quarter valued at $117,000. Pacer Advisors Inc. increased its stake in Square by 22.7% in the 1st quarter. Pacer Advisors Inc. now owns 5,883 shares of the technology company’s stock valued at $102,000 after buying an additional 1,090 shares during the last quarter. Riverhead Capital Management LLC acquired a new stake in Square in the 2nd quarter valued at $149,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Square by 19.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,752 shares of the technology company’s stock valued at $158,000 after buying an additional 1,099 shares during the last quarter. Finally, CENTRAL TRUST Co increased its stake in Square by 683.7% in the 2nd quarter. CENTRAL TRUST Co now owns 8,613 shares of the technology company’s stock valued at $203,000 after buying an additional 7,514 shares during the last quarter. 53.83% of the stock is currently owned by institutional investors and hedge funds.

Square (SQ) opened at 30.76 on Friday. The company has a 50-day moving average price of $27.16 and a 200-day moving average price of $23.15. The company’s market capitalization is $11.80 billion. Square has a one year low of $10.88 and a one year high of $30.90. Square also saw unusually large options trading activity on Wednesday. Traders acquired 35,867 call options on the stock. This is an increase of approximately 916% compared to the typical volume of 3,529 call options.

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About Square

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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Earnings History and Estimates for Square (NYSE:SQ)

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