Zacks: Brokerages Anticipate Square Inc (SQ) Will Post Quarterly Sales of $601.79 Million

Wall Street brokerages predict that Square Inc (NYSE:SQ) will report $601.79 million in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Square’s earnings. The highest sales estimate is $612.34 million and the lowest is $591.70 million. Square posted sales of $451.92 million during the same quarter last year, which suggests a positive year-over-year growth rate of 33.2%. The firm is scheduled to issue its next earnings report on Wednesday, February 28th.

According to Zacks, analysts expect that Square will report full-year sales of $601.79 million for the current year, with estimates ranging from $2.19 billion to $2.21 billion. For the next year, analysts expect that the company will post sales of $2.83 billion per share, with estimates ranging from $2.73 billion to $2.92 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Square.

Square (NYSE:SQ) last posted its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.02. Square had a negative net margin of 3.04% and a negative return on equity of 7.98%. The company had revenue of $257.12 million for the quarter, compared to analyst estimates of $244.95 million. During the same period in the prior year, the company posted $0.01 EPS. The firm’s revenue for the quarter was up 44.6% on a year-over-year basis.

SQ has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Square from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research report on Tuesday, October 3rd. Barclays increased their price objective on shares of Square from $28.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, November 9th. Vetr lowered shares of Square from a “buy” rating to a “hold” rating and set a $31.08 price objective on the stock. in a research report on Wednesday, October 4th. Wells Fargo & Co initiated coverage on shares of Square in a research report on Tuesday, November 21st. They issued a “market perform” rating and a $42.00 price objective on the stock. Finally, Deutsche Bank increased their price objective on shares of Square to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $34.83.

Shares of Square (SQ) opened at $41.14 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.81 and a quick ratio of 1.81. Square has a 1 year low of $13.84 and a 1 year high of $49.56. The firm has a market cap of $15,990.00 and a PE ratio of -242.00.

In other news, CFO Sarah Friar sold 38,400 shares of the stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $32.81, for a total transaction of $1,259,904.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ajmere Dale sold 20,286 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $39.12, for a total transaction of $793,588.32. Following the transaction, the insider now owns 134,518 shares in the company, valued at $5,262,344.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,668,081 shares of company stock worth $61,992,018. Insiders own 32.68% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in SQ. FMR LLC boosted its stake in Square by 114.7% in the second quarter. FMR LLC now owns 23,888,617 shares of the technology company’s stock valued at $560,427,000 after acquiring an additional 12,764,491 shares in the last quarter. Vanguard Group Inc. boosted its stake in Square by 73.4% in the second quarter. Vanguard Group Inc. now owns 19,034,862 shares of the technology company’s stock valued at $446,558,000 after acquiring an additional 8,058,892 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Square by 556.5% in 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 acquiring an additional 3,894,639 shares in the last quarter. Capital World Investors boosted its stake in Square by 32.8% in the second quarter. Capital World Investors now owns 15,597,830 shares of the technology company’s stock valued at $365,925,000 after acquiring an additional 3,853,000 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in Square by 31.0% in the third quarter. Allianz Asset Management GmbH now owns 13,302,170 shares of the technology company’s stock valued at $383,235,000 after acquiring an additional 3,147,558 shares in the last quarter. Institutional investors own 54.20% of the company’s stock.

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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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Earnings History and Estimates for Square (NYSE:SQ)

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