Zacks: Analysts Expect Square, Inc. (NYSE:SQ) Will Post Quarterly Sales of $1.11 Billion

Brokerages expect Square, Inc. (NYSE:SQ) to post sales of $1.11 billion for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Square’s earnings. The highest sales estimate is $1.12 billion and the lowest is $1.09 billion. Square posted sales of $814.94 million in the same quarter last year, which suggests a positive year-over-year growth rate of 36.2%. The business is expected to announce its next quarterly earnings report after the market closes on Thursday, August 1st.

On average, analysts expect that Square will report full year sales of $4.47 billion for the current year, with estimates ranging from $4.41 billion to $4.53 billion. For the next fiscal year, analysts forecast that the business will post sales of $5.74 billion, with estimates ranging from $5.55 billion to $5.84 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Square.

Square (NYSE:SQ) last posted its quarterly earnings results on Wednesday, May 1st. The technology company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.09). The firm had revenue of $489.00 million during the quarter, compared to analyst estimates of $479.63 million. Square had a negative net margin of 1.47% and a positive return on equity of 1.86%. The company’s revenue was up 59.3% on a year-over-year basis. During the same period last year, the company earned $0.06 EPS.

Several equities analysts have commented on SQ shares. Raymond James set a C$31.00 price target on Endeavour Mining and gave the company an “outperform” rating in a report on Tuesday. SunTrust Banks upped their price target on Markel to $1,100.00 and gave the company a “hold” rating in a report on Thursday, May 2nd. Nomura upped their price target on Square from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, June 28th. ValuEngine raised WEX from a “hold” rating to a “buy” rating in a report on Thursday, June 13th. Finally, BMO Capital Markets set a $66.00 target price on CyrusOne and gave the stock a “buy” rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $86.49.

In other Square news, insider Ajmere Dale sold 2,296 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $60.86, for a total value of $139,734.56. Following the transaction, the insider now directly owns 79,725 shares in the company, valued at approximately $4,852,063.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jacqueline D. Reses sold 5,000 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $68.35, for a total value of $341,750.00. Following the completion of the transaction, the insider now owns 413,593 shares in the company, valued at $28,269,081.55. The disclosure for this sale can be found here. Insiders have sold a total of 72,296 shares of company stock valued at $5,089,985 over the last ninety days. Insiders own 21.79% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Jennison Associates LLC boosted its position in Square by 56.6% in the 1st quarter. Jennison Associates LLC now owns 15,136,362 shares of the technology company’s stock valued at $1,134,016,000 after buying an additional 5,472,640 shares during the last quarter. Norges Bank bought a new position in Square in the 4th quarter valued at $141,059,000. American Century Companies Inc. boosted its position in shares of Square by 35.6% in the 4th quarter. American Century Companies Inc. now owns 2,101,900 shares of the technology company’s stock worth $117,896,000 after purchasing an additional 552,267 shares during the last quarter. Northern Trust Corp boosted its position in shares of Square by 3.6% in the 1st quarter. Northern Trust Corp now owns 1,935,346 shares of the technology company’s stock worth $144,996,000 after purchasing an additional 67,477 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC boosted its position in shares of Square by 8.8% in the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 1,818,106 shares of the technology company’s stock worth $136,213,000 after purchasing an additional 146,871 shares during the last quarter. Hedge funds and other institutional investors own 51.98% of the company’s stock.

Square stock traded up $2.84 during trading hours on Friday, hitting $82.28. The stock had a trading volume of 13,580,071 shares, compared to its average volume of 7,251,656. The company’s 50-day simple moving average is $70.34. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a market cap of $33.60 billion, a P/E ratio of 4,114.00, a PEG ratio of 21.29 and a beta of 3.31. Square has a fifty-two week low of $49.82 and a fifty-two week high of $101.15.

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.

Further Reading: Marijuana Stocks

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.