Q1 2024 EPS Estimates for Block, Inc. (NYSE:SQ) Boosted by Analyst

Block, Inc. (NYSE:SQ) – Seaport Res Ptn boosted their Q1 2024 earnings estimates for shares of Block in a report released on Monday, April 15th. Seaport Res Ptn analyst J. Cantwell now expects that the technology company will post earnings per share of ($0.05) for the quarter, up from their prior estimate of ($0.06). Seaport Res Ptn has a “Buy” rating on the stock. The consensus estimate for Block’s current full-year earnings is $1.02 per share. Seaport Res Ptn also issued estimates for Block’s Q2 2024 earnings at ($0.06) EPS, Q3 2024 earnings at $0.07 EPS, Q4 2024 earnings at $0.27 EPS, Q1 2025 earnings at $0.25 EPS, Q2 2025 earnings at $0.32 EPS, Q3 2025 earnings at $0.42 EPS, Q4 2025 earnings at $0.64 EPS and FY2025 earnings at $1.63 EPS.

SQ has been the subject of a number of other research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $88.00 price objective (up previously from $86.00) on shares of Block in a research note on Friday, February 23rd. Wells Fargo & Company upgraded shares of Block from an “equal weight” rating to an “overweight” rating and set a $95.00 target price for the company in a research report on Friday, February 23rd. Citigroup increased their target price on shares of Block from $76.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Morgan Stanley reiterated an “underweight” rating and issued a $60.00 target price (down previously from $62.00) on shares of Block in a research report on Thursday, April 4th. Finally, BTIG Research upgraded shares of Block from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat, Block has an average rating of “Moderate Buy” and a consensus target price of $84.41.

Block Trading Up 0.5 %

Block stock opened at $73.51 on Wednesday. The company has a 50 day moving average price of $76.62 and a 200 day moving average price of $65.81. Block has a 52 week low of $38.85 and a 52 week high of $87.52. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market capitalization of $45.26 billion, a price-to-earnings ratio of 432.35, a P/E/G ratio of 2.18 and a beta of 2.55.

Block (NYSE:SQ) last posted its quarterly earnings data on Thursday, February 22nd. The technology company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. Block had a net margin of 0.04% and a return on equity of 0.63%. The firm had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.69 billion.

Insiders Place Their Bets

In other Block news, insider Brian Grassadonia sold 127,800 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $65.45, for a total value of $8,364,510.00. Following the sale, the insider now directly owns 405,224 shares in the company, valued at approximately $26,521,910.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Block news, insider Brian Grassadonia sold 127,800 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $65.45, for a total value of $8,364,510.00. Following the sale, the insider now directly owns 405,224 shares in the company, valued at approximately $26,521,910.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amrita Ahuja sold 2,581 shares of Block stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $64.30, for a total transaction of $165,958.30. Following the sale, the chief financial officer now owns 201,754 shares in the company, valued at $12,972,782.20. The disclosure for this sale can be found here. Insiders have sold 363,801 shares of company stock worth $27,284,175 in the last ninety days. Insiders own 10.79% of the company’s stock.

Institutional Trading of Block

Institutional investors have recently made changes to their positions in the business. Clearbridge Investments LLC boosted its position in shares of Block by 10.4% during the 3rd quarter. Clearbridge Investments LLC now owns 1,222,600 shares of the technology company’s stock valued at $54,112,000 after acquiring an additional 115,132 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in shares of Block by 1.5% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 261,300 shares of the technology company’s stock valued at $11,565,000 after acquiring an additional 3,900 shares in the last quarter. IFG Advisory LLC bought a new position in Block during the 4th quarter valued at about $213,000. Canada Pension Plan Investment Board lifted its holdings in Block by 16.1% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,373,857 shares of the technology company’s stock valued at $60,807,000 after purchasing an additional 190,400 shares during the last quarter. Finally, CenterBook Partners LP bought a new position in Block during the 3rd quarter valued at about $359,000. 70.44% of the stock is currently owned by institutional investors and hedge funds.

Block Company Profile

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.