Research Analysts Offer Predictions for Square, Inc.’s Q4 2018 Earnings (SQ)

Square, Inc. (NYSE:SQ) – Research analysts at SunTrust Banks raised their Q4 2018 earnings per share (EPS) estimates for shares of Square in a note issued to investors on Wednesday, October 17th, according to Zacks Investment Research. SunTrust Banks analyst A. Jeffrey now anticipates that the technology company will earn $0.03 per share for the quarter, up from their previous forecast of $0.02. SunTrust Banks has a “Hold” rating and a $84.00 price objective on the stock.

SQ has been the subject of several other reports. ValuEngine raised shares of Square from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 2nd. Wolfe Research began coverage on Square in a research report on Tuesday, July 17th. They set a “market perform” rating for the company. Deutsche Bank lifted their target price on Square from $57.00 to $78.00 and gave the stock a “buy” rating in a research report on Tuesday, July 24th. Stifel Nicolaus lifted their target price on Square from $66.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday, July 31st. Finally, Goldman Sachs Group lifted their target price on Square from $77.00 to $108.00 and gave the stock a “buy” rating in a research report on Monday, October 8th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $78.59.

NYSE SQ traded down $1.96 on Thursday, hitting $73.27. 17,254,739 shares of the stock were exchanged, compared to its average volume of 20,881,962. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $33.94 billion, a price-to-earnings ratio of -732.70 and a beta of 4.30. Square has a 52-week low of $34.14 and a 52-week high of $101.15.

Square (NYSE:SQ) last posted its quarterly earnings data on Wednesday, November 7th. The technology company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. The company had revenue of $431.00 million during the quarter, compared to analyst estimates of $414.19 million. Square had a negative net margin of 0.87% and a negative return on equity of 1.18%. Square’s quarterly revenue was up 67.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.07 earnings per share.

In other news, insider Sivan Whiteley sold 5,224 shares of the business’s stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $99.41, for a total transaction of $519,317.84. Following the sale, the insider now owns 490,344 shares in the company, valued at $48,745,097.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jack Dorsey sold 103,035 shares of the business’s stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $71.78, for a total value of $7,395,852.30. The disclosure for this sale can be found here. Insiders sold 2,300,650 shares of company stock valued at $187,755,700 over the last quarter. 27.99% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of SQ. CIBC Asset Management Inc boosted its position in Square by 5.3% in the third quarter. CIBC Asset Management Inc now owns 14,784 shares of the technology company’s stock valued at $1,464,000 after buying an additional 738 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in Square by 1.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 75,472 shares of the technology company’s stock valued at $7,472,000 after buying an additional 754 shares during the last quarter. Lincoln National Corp boosted its position in Square by 13.7% in the second quarter. Lincoln National Corp now owns 6,327 shares of the technology company’s stock valued at $390,000 after buying an additional 764 shares during the last quarter. Alpha Cubed Investments LLC boosted its position in Square by 23.1% in the third quarter. Alpha Cubed Investments LLC now owns 4,208 shares of the technology company’s stock valued at $312,000 after buying an additional 791 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in Square by 5.7% in the third quarter. IFP Advisors Inc now owns 15,264 shares of the technology company’s stock valued at $1,511,000 after buying an additional 818 shares during the last quarter. Institutional investors and hedge funds own 51.25% 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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