Square, Inc. (NYSE:SQ) Expected to Post Quarterly Sales of $1.11 Billion

Wall Street analysts expect that Square, Inc. (NYSE:SQ) will report sales of $1.11 billion for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Square’s earnings, with the lowest sales estimate coming in at $1.09 billion and the highest estimate coming in at $1.12 billion. Square reported sales of $814.94 million during the same quarter last year, which indicates a positive year over year growth rate of 36.2%. The firm is scheduled to issue its next earnings results after the market closes on Thursday, August 1st.

According to Zacks, analysts expect that Square will report full-year sales of $4.47 billion for the current fiscal year, with estimates ranging from $4.41 billion to $4.53 billion. For the next fiscal year, analysts anticipate that the business will report sales of $5.74 billion, with estimates ranging from $5.55 billion to $5.84 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Square.

Square (NYSE:SQ) last released its earnings results on Wednesday, May 1st. The technology company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.09). The company had revenue of $489.00 million during the quarter, compared to analyst estimates of $479.63 million. Square had a positive return on equity of 1.86% and a negative net margin of 1.47%. The firm’s revenue for the quarter was up 59.3% on a year-over-year basis. During the same quarter last year, the business earned $0.06 earnings per share.

A number of analysts recently commented on SQ shares. Argus upgraded shares of Brandywine Realty Trust from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Monday, July 8th. Raymond James set a C$31.00 target price on shares of Endeavour Mining and gave the stock an “outperform” rating in a research note on Tuesday. BMO Capital Markets set a $66.00 target price on shares of CyrusOne and gave the stock a “buy” rating in a research note on Friday, May 3rd. ValuEngine upgraded shares of WEX from a “hold” rating to a “buy” rating in a research note on Thursday, June 13th. Finally, Macquarie lifted their target price on shares of Shopify to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $86.49.

SQ stock traded up $2.84 during trading on Friday, reaching $82.28. The company had a trading volume of 13,580,071 shares, compared to its average volume of 7,251,656. The business has a 50-day simple moving average of $70.34. The firm has a market cap of $33.60 billion, a P/E ratio of 4,114.00, a price-to-earnings-growth ratio of 21.29 and a beta of 3.31. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.50 and a current ratio of 1.50. Square has a twelve month low of $49.82 and a twelve month high of $101.15.

In other news, insider Ajmere Dale sold 2,296 shares of Square stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $60.86, for a total transaction of $139,734.56. Following the completion of the transaction, the insider now directly owns 79,725 shares of the company’s stock, valued at approximately $4,852,063.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Alyssa Henry sold 20,000 shares of Square stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $77.69, for a total transaction of $1,553,800.00. Following the transaction, the insider now directly owns 449,261 shares of the company’s stock, valued at $34,903,087.09. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,296 shares of company stock valued at $5,089,985. Insiders own 21.79% of the company’s stock.

Several large investors have recently bought and sold shares of SQ. Lenox Wealth Management Inc. purchased a new stake in Square in the 1st quarter worth $25,000. Legacy Advisors LLC purchased a new stake in Square in the 1st quarter worth $27,000. FTB Advisors Inc. purchased a new stake in Square in the 1st quarter worth $27,000. Cullen Frost Bankers Inc. purchased a new stake in Square in the 1st quarter worth $28,000. Finally, Private Ocean LLC purchased a new stake in Square in the 1st quarter worth $28,000. 51.98% of the stock is owned by hedge funds and other institutional investors.

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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