$860.52 Million in Sales Expected for Square, Inc. (SQ) This Quarter

Wall Street brokerages expect Square, Inc. (NYSE:SQ) to report sales of $860.52 million for the current quarter, Zacks reports. Nine analysts have provided estimates for Square’s earnings. The lowest sales estimate is $825.60 million and the highest is $869.30 million. Square posted sales of $585.16 million during the same quarter last year, which would indicate a positive year over year growth rate of 47.1%. The business is scheduled to issue its next earnings report after the market closes on Wednesday, November 7th.

On average, analysts expect that Square will report full year sales of $3.23 billion for the current fiscal year, with estimates ranging from $3.09 billion to $3.27 billion. For the next financial year, analysts anticipate that the business will report sales of $4.30 billion, with estimates ranging from $4.11 billion to $4.57 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Square.

Square (NYSE:SQ) last issued its quarterly earnings results on Wednesday, August 1st. The technology company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.14. Square had a negative net margin of 2.30% and a negative return on equity of 3.18%. The firm had revenue of $385.00 million during the quarter, compared to the consensus estimate of $367.99 million. During the same period in the prior year, the firm earned $0.07 EPS. The business’s revenue was up 60.4% on a year-over-year basis.

A number of equities analysts have recently issued reports on the stock. Credit Suisse Group increased their price objective on shares of Square from $81.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, October 10th. Guggenheim increased their price objective on shares of Square from $75.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, August 29th. JPMorgan Chase & Co. increased their price objective on shares of Square to $60.00 and gave the company an “overweight” rating in a research note on Thursday, August 2nd. Buckingham Research increased their price objective on shares of Square from $85.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, September 26th. Finally, Deutsche Bank increased their price objective on shares of Square from $78.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, September 14th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $72.64.

Square stock traded down $0.21 during mid-day trading on Thursday, reaching $67.07. The company had a trading volume of 6,740,508 shares, compared to its average volume of 20,774,516. Square has a 52 week low of $34.14 and a 52 week high of $101.15. The company has a market cap of $29.19 billion, a PE ratio of -670.70 and a beta of 4.33. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.18 and a quick ratio of 2.18.

In related news, Director James Morgan Jr. Mckelvey sold 400,000 shares of the stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $71.26, for a total transaction of $28,504,000.00. Following the completion of the sale, the director now owns 472,175 shares in the company, valued at approximately $33,647,190.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sivan Whiteley sold 1,875 shares of the stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $69.84, for a total transaction of $130,950.00. Following the sale, the insider now owns 526,299 shares of the company’s stock, valued at approximately $36,756,722.16. The disclosure for this sale can be found here. Insiders have sold a total of 2,494,580 shares of company stock valued at $200,646,493 in the last quarter. 27.99% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of SQ. American Century Companies Inc. increased its position in Square by 2,070.5% in the 2nd quarter. American Century Companies Inc. now owns 827,790 shares of the technology company’s stock valued at $51,025,000 after acquiring an additional 789,651 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Square by 85.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,450,154 shares of the technology company’s stock valued at $143,579,000 after acquiring an additional 668,394 shares in the last quarter. Korea Investment CORP acquired a new stake in Square in the 2nd quarter valued at about $36,435,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in Square by 8.1% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,700,722 shares of the technology company’s stock valued at $289,753,000 after acquiring an additional 353,037 shares in the last quarter. Finally, Scout Investments Inc. acquired a new stake in Square in the 3rd quarter valued at about $34,577,000. Hedge funds and other institutional investors own 51.63% of the company’s stock.

Square 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.

Recommended Story: Google Finance Portfolio

Get a free copy of the Zacks research report on Square (SQ)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Square (NYSE:SQ)

Receive News & Ratings for Square Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Square and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply