Equities analysts expect Square, Inc. (NYSE:SQ) to report earnings per share of $0.12 for the current quarter, Zacks reports. Five analysts have provided estimates for Square’s earnings, with the highest EPS estimate coming in at $0.15 and the lowest estimate coming in at $0.11. Square posted earnings per share of ($0.04) during the same quarter last year, which would suggest a positive year over year growth rate of 400%. The company is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, August 1st.
On average, analysts expect that Square will report full-year earnings of $0.47 per share for the current financial year, with EPS estimates ranging from $0.44 to $0.54. For the next year, analysts forecast that the firm will post earnings of $0.79 per share, with EPS estimates ranging from $0.70 to $0.92. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Square.
Square (NYSE:SQ) last issued its quarterly earnings results on Wednesday, May 2nd. The technology company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.01. Square had a negative return on equity of 7.03% and a negative net margin of 2.96%. The company had revenue of $307.00 million for the quarter, compared to analysts’ expectations of $293.07 million. During the same period last year, the firm earned $0.05 EPS. The firm’s revenue for the quarter was up 50.5% on a year-over-year basis.
Several brokerages have recently issued reports on SQ. Stephens cut Square from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, June 26th. Royal Bank of Canada lifted their price target on Square from $53.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, May 23rd. Nomura lifted their price target on Square from $65.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, June 21st. Vetr cut Square from a “buy” rating to a “hold” rating and set a $58.05 price target on the stock. in a research report on Tuesday, March 20th. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $69.00 price target (up from $51.00) on shares of Square in a research report on Friday, June 1st. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eighteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $54.40.
Shares of Square traded up $0.57, hitting $65.33, during mid-day trading on Wednesday, MarketBeat reports. 5,845,580 shares of the stock traded hands, compared to its average volume of 12,980,481. Square has a twelve month low of $24.22 and a twelve month high of $69.40. The stock has a market cap of $26.64 billion, a PE ratio of -653.30 and a beta of 4.32. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.76 and a current ratio of 1.76.
In related news, Director James Morgan Jr. Mckelvey sold 400,000 shares of Square stock in a transaction on Monday, April 16th. The stock was sold at an average price of $46.90, for a total transaction of $18,760,000.00. Following the completion of the sale, the director now owns 468,223 shares of the company’s stock, valued at $21,959,658.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jacqueline D. Reses sold 15,000 shares of Square stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $47.51, for a total value of $712,650.00. Following the sale, the insider now directly owns 594,541 shares of the company’s stock, valued at approximately $28,246,642.91. The disclosure for this sale can be found here. Insiders have sold 1,650,315 shares of company stock worth $94,582,456 in the last quarter. 27.99% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. boosted its position in Square by 1,476.2% during the first quarter. Envestnet Asset Management Inc. now owns 2,317 shares of the technology company’s stock valued at $114,000 after purchasing an additional 2,170 shares during the last quarter. McKinley Carter Wealth Services Inc. acquired a new stake in Square during the first quarter valued at $138,000. Sheaff Brock Investment Advisors LLC acquired a new stake in Square during the first quarter valued at $220,000. Profund Advisors LLC acquired a new stake in Square during the first quarter valued at $239,000. Finally, Bronfman E.L. Rothschild L.P. boosted its position in Square by 78.8% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 4,946 shares of the technology company’s stock valued at $243,000 after purchasing an additional 2,180 shares during the last quarter. 52.14% of the stock is owned by hedge funds and other institutional investors.
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.
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