Square, Inc. to Post Q1 2019 Earnings of $0.02 Per Share, Wedbush Forecasts (SQ)
Square, Inc. (NYSE:SQ) – Wedbush issued their Q1 2019 earnings per share (EPS) estimates for shares of Square in a research report issued to clients and investors on Thursday. Wedbush analyst M. Katri anticipates that the technology company will earn $0.02 per share for the quarter. Wedbush has a “Neutral” rating and a $28.00 price objective on the stock. Wedbush also issued estimates for Square’s Q2 2019 earnings at $0.03 EPS and Q3 2019 earnings at $0.03 EPS.
Square (NYSE:SQ) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating 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 company had revenue of $240.00 million for the quarter, compared to analyst estimates of $228.64 million. During the same period in the previous year, the company posted ($0.08) EPS. The firm’s revenue for the quarter was up 40.4% compared to the same quarter last year.
Several other equities analysts also recently weighed in on SQ. Credit Suisse Group reiterated a “neutral” rating and set a $26.00 target price (up from $25.00) on shares of Square in a research report on Wednesday, August 9th. Vetr downgraded Square from a “buy” rating to a “hold” rating and set a $31.08 target price on the stock. in a research report on Wednesday, October 4th. Royal Bank Of Canada reiterated an “outperform” rating and set a $31.00 target price (up from $24.00) on shares of Square in a research report on Wednesday, August 9th. Zacks Investment Research downgraded Square from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Finally, Canaccord Genuity lifted their target price on Square from $18.00 to $26.00 and gave the company a “hold” rating in a research report on Thursday, August 3rd. Thirteen equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $26.11.
A number of hedge funds and other institutional investors have recently modified their holdings of SQ. FMR LLC increased its stake in Square by 114.7% during the second quarter. FMR LLC now owns 23,888,617 shares of the technology company’s stock worth $560,427,000 after acquiring an additional 12,764,491 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Square by 73.4% during the second quarter. Vanguard Group Inc. now owns 19,034,862 shares of the technology company’s stock valued at $446,558,000 after buying an additional 8,058,892 shares during the period. BlackRock Inc. boosted its position in shares of Square by 7,162.2% during the first quarter. BlackRock Inc. now owns 5,383,325 shares of the technology company’s stock valued at $93,023,000 after buying an additional 5,309,197 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Square by 556.5% during the second quarter. Goldman Sachs Group Inc. now owns 4,594,445 shares of the technology company’s stock valued at $107,786,000 after buying an additional 3,894,639 shares during the period. Finally, Capital World Investors boosted its position in shares of Square by 32.8% during the second quarter. Capital World Investors now owns 15,597,830 shares of the technology company’s stock valued at $365,925,000 after buying an additional 3,853,000 shares during the period. 53.83% of the stock is currently owned by institutional investors.
In other Square news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $27.22, for a total transaction of $10,888,000.00. Following the sale, the director now directly owns 507,385 shares of the company’s stock, valued at $13,811,019.70. The sale 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 that occurred on Monday, July 17th. The stock was sold at an average price of $26.25, for a total value of $504,000.00. Following 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. Insiders have sold 972,800 shares of company stock worth $25,520,512 over the last three months. 32.68% of the stock is currently owned by insiders.
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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