Zacks: Brokerages Expect Square, Inc. (SQ) Will Announce Earnings of $0.16 Per Share
Analysts expect Square, Inc. (NYSE:SQ) to post $0.16 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Square’s earnings, with estimates ranging from $0.15 to $0.18. Square posted earnings of $0.13 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 23.1%. The firm is expected to announce its next earnings results on Wednesday, August 7th.
On average, analysts expect that Square will report full year earnings of $0.76 per share for the current fiscal year, with EPS estimates ranging from $0.70 to $0.81. For the next fiscal year, analysts forecast that the firm will report earnings of $1.12 per share, with EPS estimates ranging from $1.00 to $1.22. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for Square.
Square (NYSE:SQ) last issued its 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%. Square’s quarterly revenue was up 59.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 earnings per share.
In other news, CAO Ajmere Dale sold 2,048 shares of the company’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $80.00, for a total value of $163,840.00. Following the sale, the chief accounting officer now directly owns 79,985 shares of the company’s stock, valued at approximately $6,398,800. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jack Dorsey sold 103,035 shares of the company’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $78.04, for a total transaction of $8,040,851.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 716,606 shares of company stock valued at $54,179,892. Corporate insiders own 21.79% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in SQ. Teachers Advisors LLC increased its holdings in shares of Square by 7.4% in the third quarter. Teachers Advisors LLC now owns 626,710 shares of the technology company’s stock valued at $62,051,000 after buying an additional 43,338 shares in the last quarter. TIAA CREF Investment Management LLC increased its holdings in shares of Square by 4.0% in the third quarter. TIAA CREF Investment Management LLC now owns 1,099,492 shares of the technology company’s stock valued at $108,861,000 after buying an additional 42,518 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Square by 201.3% in the third quarter. Legal & General Group Plc now owns 1,051,975 shares of the technology company’s stock valued at $104,156,000 after buying an additional 702,826 shares in the last quarter. Federated Investors Inc. PA raised its stake in Square by 56.3% during the 3rd quarter. Federated Investors Inc. PA now owns 137,664 shares of the technology company’s stock valued at $13,630,000 after purchasing an additional 49,598 shares during the period. Finally, DNB Asset Management AS raised its stake in Square by 3.9% during the 4th quarter. DNB Asset Management AS now owns 32,808 shares of the technology company’s stock valued at $1,840,000 after purchasing an additional 1,242 shares during the period. Institutional investors own 55.56% of the company’s stock.
Shares of NYSE:SQ opened at $63.75 on Friday. The company has a market capitalization of $28.11 billion, a PE ratio of 3,187.50, a PEG ratio of 17.58 and a beta of 3.49. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.91. Square has a 12 month low of $49.82 and a 12 month high of $101.15.
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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