Brokerages Expect Square, Inc. (NYSE:SQ) Will Post Quarterly Sales of $5.02 Billion

Wall Street brokerages forecast that Square, Inc. (NYSE:SQ) will report sales of $5.02 billion for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have made estimates for Square’s earnings, with estimates ranging from $4.07 billion to $6.07 billion. Square posted sales of $1.92 billion in the same quarter last year, which suggests a positive year over year growth rate of 161.5%. The business is scheduled to announce its next earnings results after the market closes on Thursday, August 5th.

According to Zacks, analysts expect that Square will report full year sales of $20.25 billion for the current fiscal year, with estimates ranging from $17.50 billion to $23.48 billion. For the next year, analysts anticipate that the business will report sales of $22.47 billion, with estimates ranging from $15.73 billion to $34.22 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Square.

Square (NYSE:SQ) last issued its quarterly earnings results on Thursday, May 6th. The technology company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.45. The firm had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $3.28 billion. Square had a return on equity of 9.32% and a net margin of 2.72%. Square’s revenue was up 266.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.02) EPS.

Several brokerages have recently issued reports on SQ. KeyCorp lifted their price target on Square from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday, May 5th. Barclays lifted their price target on Square from $330.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, April 20th. Rosenblatt Securities raised their price objective on Square from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, May 7th. Zacks Investment Research downgraded Square from a “hold” rating to a “sell” rating and set a $254.00 price objective on the stock. in a research note on Tuesday, July 13th. Finally, Keefe, Bruyette & Woods raised Square from a “market perform” rating to an “outperform” rating and set a $250.00 price objective on the stock in a research note on Wednesday, March 31st. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $252.74.

NYSE SQ traded up $3.12 during trading on Friday, reaching $260.37. 312,878 shares of the company’s stock were exchanged, compared to its average volume of 6,508,354. Square has a fifty-two week low of $117.00 and a fifty-two week high of $283.19. The company has a market capitalization of $118.56 billion, a price-to-earnings ratio of 366.89, a PEG ratio of 10.74 and a beta of 2.41. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 1.29. The stock has a fifty day moving average price of $227.85.

In related news, CAO Ajmere Dale sold 1,000 shares of the company’s stock in a transaction dated Tuesday, June 29th. The stock was sold at an average price of $250.00, for a total value of $250,000.00. Following the completion of the sale, the chief accounting officer now owns 41,293 shares in the company, valued at $10,323,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amrita Ahuja sold 4,994 shares of the company’s stock in a transaction dated Friday, April 23rd. The shares were sold at an average price of $243.80, for a total value of $1,217,537.20. Following the completion of the sale, the chief financial officer now owns 147,873 shares of the company’s stock, valued at approximately $36,051,437.40. The disclosure for this sale can be found here. Insiders have sold 973,985 shares of company stock worth $222,515,001 in the last ninety days. 15.12% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in SQ. Rockbridge Investment Management LCC increased its holdings in shares of Square by 156.0% in the fourth quarter. Rockbridge Investment Management LCC now owns 128 shares of the technology company’s stock worth $28,000 after acquiring an additional 78 shares in the last quarter. Retirement Group LLC acquired a new position in shares of Square during the fourth quarter worth about $29,000. Wagner Wealth Management LLC acquired a new position in shares of Square during the first quarter worth about $30,000. Childress Capital Advisors LLC acquired a new position in shares of Square during the fourth quarter worth about $32,000. Finally, Loomis Sayles & Co. L P boosted its position in shares of Square by 178.4% during the first quarter. Loomis Sayles & Co. L P now owns 142 shares of the technology company’s stock worth $32,000 after buying an additional 91 shares during the period. Institutional investors own 62.66% of the company’s stock.

About Square

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.

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