$571.85 Million in Sales Expected for Square, Inc. (SQ) This Quarter
Wall Street analysts expect that Square, Inc. (NYSE:SQ) will announce $571.85 million in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Square’s earnings. The highest sales estimate is $576.50 million and the lowest is $566.90 million. Square reported sales of $439.00 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 30.3%. The firm is scheduled to report its next quarterly earnings report on Tuesday, November 7th.
On average, analysts expect that Square will report full-year sales of $571.85 million for the current fiscal year, with estimates ranging from $2.16 billion to $2.19 billion. For the next financial year, analysts forecast that the business will post sales of $2.75 billion per share, with estimates ranging from $2.63 billion to $2.86 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Square.
Square (NYSE:SQ) last announced its earnings results on Wednesday, August 2nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $240.00 million during the quarter, compared to analysts’ expectations of $228.64 million. Square had a negative net margin of 4.13% and a negative return on equity of 12.41%. The firm’s quarterly revenue was up 40.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.08) earnings per share.
SQ has been the topic of a number of research reports. Credit Suisse Group restated a “neutral” rating and issued a $26.00 price objective (up previously from $25.00) on shares of Square in a report on Wednesday, August 9th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $31.00 target price (up from $24.00) on shares of Square in a research report on Wednesday, August 9th. Vetr cut Square from a “strong-buy” rating to a “buy” rating and set a $30.12 target price for the company. in a research report on Tuesday, September 12th. Canaccord Genuity lifted their price objective on Square from $18.00 to $26.00 and gave the company a “hold” rating in a report on Thursday, August 3rd. Finally, Barclays PLC reissued an “overweight” rating and set a $28.00 price objective (up from $21.00) on shares of Square in a report on Wednesday, August 9th. Twelve research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Square has an average rating of “Buy” and a consensus target price of $24.87.
Shares of Square (NYSE SQ) traded down 0.49% during midday trading on Friday, hitting $28.50. 19,504,752 shares of the stock were exchanged. The stock’s market cap is $10.94 billion. The stock’s 50-day moving average price is $25.86 and its 200 day moving average price is $21.97. Square has a one year low of $10.88 and a one year high of $28.80.
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In other Square news, CFO Sarah Friar sold 38,400 shares of the stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $24.22, for a total value of $930,048.00. Following the completion of the transaction, the chief financial officer now directly owns 375,023 shares in the company, valued at $9,083,057.06. The transaction was disclosed in a 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 dated Monday, September 11th. The shares were sold at an average price of $27.22, for a total value of $10,888,000.00. Following the completion of the transaction, the director now owns 507,385 shares of the company’s stock, valued at $13,811,019.70. The disclosure for this sale can be found here. Insiders sold 953,600 shares of company stock valued at $24,816,064 over the last quarter. Corporate insiders own 32.68% of the company’s stock.
Several hedge funds have recently modified their holdings of SQ. Janney Montgomery Scott LLC acquired a new stake in shares of Square in the first quarter valued at about $188,000. Russell Investments Group Ltd. grew its stake in Square by 186.8% during the first quarter. Russell Investments Group Ltd. now owns 190,044 shares of the technology company’s stock worth $3,285,000 after purchasing an additional 123,787 shares during the period. Great West Life Assurance Co. Can grew its stake in Square by 43.4% during the first quarter. Great West Life Assurance Co. Can now owns 17,174 shares of the technology company’s stock worth $296,000 after purchasing an additional 5,200 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Square by 71.0% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 86,000 shares of the technology company’s stock worth $1,486,000 after purchasing an additional 35,700 shares during the period. Finally, American Century Companies Inc. grew its stake in Square by 5.0% during the first quarter. American Century Companies Inc. now owns 106,968 shares of the technology company’s stock worth $1,848,000 after purchasing an additional 5,129 shares during the period. 82.02% of the stock is owned by institutional investors.
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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