Zacks: Brokerages Expect Square Inc (SQ) Will Post Earnings of $0.07 Per Share

Wall Street analysts expect that Square Inc (NYSE:SQ) will post earnings of $0.07 per share for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Square’s earnings, with the highest EPS estimate coming in at $0.07 and the lowest estimate coming in at $0.05. Square posted earnings per share of ($0.04) in the same quarter last year, which would indicate a positive year-over-year growth rate of 275%. The business is scheduled to issue its next quarterly earnings report on Wednesday, February 28th.

According to Zacks, analysts expect that Square will report full-year earnings of $0.25 per share for the current financial year, with EPS estimates ranging from $0.22 to $0.27. For the next financial year, analysts forecast that the company will post earnings of $0.46 per share, with EPS estimates ranging from $0.34 to $0.51. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Square.

Square (NYSE:SQ) last announced its earnings results on Wednesday, November 8th. The technology company reported $0.07 earnings per share (EPS) 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 firm had revenue of $257.12 million for the quarter, compared to analyst estimates of $244.95 million. During the same quarter in the prior year, the business posted $0.01 EPS. The business’s revenue was up 44.6% compared to the same quarter last year.

A number of research analysts have issued reports on SQ shares. Zacks Investment Research upgraded shares of Square from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Tuesday, October 3rd. Tigress Financial restated a “buy” rating on shares of Square in a research report on Monday, September 25th. Vetr lowered shares of Square from a “strong-buy” rating to a “buy” rating and set a $30.12 target price on the stock. in a research report on Tuesday, September 12th. Royal Bank of Canada reaffirmed a “buy” rating and set a $31.00 price target on shares of Square in a report on Sunday, October 8th. Finally, Citigroup upped their price target on shares of Square from $30.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-five have assigned a buy rating to the stock. Square currently has a consensus rating of “Buy” and an average target price of $34.66.

Shares of Square (NYSE SQ) traded up $0.79 during trading hours on Thursday, hitting $38.10. 20,440,978 shares of the company’s stock were exchanged, compared to its average volume of 11,422,699. Square has a 1 year low of $13.73 and a 1 year high of $49.56. The firm has a market cap of $14,800.00 and a price-to-earnings ratio of -224.12. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.81 and a current ratio of 1.81.

In other news, CFO Sarah Friar sold 38,400 shares of the stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $32.72, for a total transaction of $13,088,000.00. Following the sale, the director now owns 507,732 shares of the company’s stock, valued at $16,612,991.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,668,081 shares of company stock valued at $61,992,018. Corporate insiders own 32.68% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC grew its holdings in Square by 114.7% in the second quarter. FMR LLC now owns 23,888,617 shares of the technology company’s stock worth $560,427,000 after purchasing an additional 12,764,491 shares during the period. Vanguard Group Inc. grew its holdings in Square by 73.4% in the second quarter. Vanguard Group Inc. now owns 19,034,862 shares of the technology company’s stock worth $446,558,000 after purchasing an additional 8,058,892 shares during the period. Goldman Sachs Group Inc. grew its holdings 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 worth $107,786,000 after purchasing an additional 3,894,639 shares during the period. Capital World Investors grew its holdings in Square by 32.8% in the second quarter. Capital World Investors now owns 15,597,830 shares of the technology company’s stock worth $365,925,000 after purchasing an additional 3,853,000 shares during the period. Finally, Allianz Asset Management GmbH grew its holdings 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 worth $383,235,000 after purchasing an additional 3,147,558 shares during the period. 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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