Square (NYSE:SQ) Releases Earnings Results, Beats Expectations By $0.20 EPS

Square (NYSE:SQ) posted its quarterly earnings results on Thursday. The technology company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.20, Bloomberg Earnings reports. The company had revenue of $563.00 million for the quarter, compared to analysts’ expectations of $557.67 million. Square had a negative net margin of 1.47% and a positive return on equity of 1.86%. Square’s revenue was up 46.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.13 EPS.

Square stock traded down $11.38 during mid-day trading on Friday, reaching $69.60. The company’s stock had a trading volume of 43,544,665 shares, compared to its average volume of 10,800,283. Square has a 12-month low of $49.82 and a 12-month high of $101.15. The firm has a market cap of $34.04 billion, a P/E ratio of 3,480.00, a P/E/G ratio of 21.57 and a beta of 3.31. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.91. The stock has a fifty day moving average of $76.34.

A number of equities research analysts recently commented on the stock. Sanford C. Bernstein assumed coverage on shares of Square in a report on Tuesday, April 16th. They issued a “market perform” rating and a $80.00 price target on the stock. Jefferies Financial Group reaffirmed a “hold” rating and issued a $78.00 price target on shares of Square in a report on Thursday, July 18th. Raymond James raised shares of Square from an “underperform” rating to a “market perform” rating and set a $74.15 price target on the stock in a report on Tuesday, July 9th. ValuEngine raised shares of Square from a “hold” rating to a “buy” rating in a report on Thursday, June 13th. Finally, Nomura lifted their price target on shares of Square from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-two have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $86.31.

In other news, insider Alyssa Henry sold 20,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $70.22, for a total transaction of $1,404,400.00. Following the completion of the transaction, the insider now directly owns 460,132 shares in the company, valued at approximately $32,310,469.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ajmere Dale sold 2,296 shares of the business’s stock in a transaction 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 transaction, the insider now owns 79,725 shares of the company’s stock, valued at $4,852,063.50. The disclosure for this sale can be found here. Insiders sold a total of 72,249 shares of company stock valued at $5,144,475 over the last quarter. 21.79% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jennison Associates LLC grew its position in Square by 56.6% in the first quarter. Jennison Associates LLC now owns 15,136,362 shares of the technology company’s stock worth $1,134,016,000 after acquiring an additional 5,472,640 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Square by 28.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,303,968 shares of the technology company’s stock worth $457,227,000 after acquiring an additional 1,410,744 shares in the last quarter. Nikko Asset Management Americas Inc. grew its position in Square by 37.0% in the second quarter. Nikko Asset Management Americas Inc. now owns 5,034,654 shares of the technology company’s stock worth $365,163,000 after acquiring an additional 1,359,963 shares in the last quarter. Norges Bank purchased a new position in Square in the fourth quarter worth $141,059,000. Finally, ARK Investment Management LLC grew its position in Square by 17.5% in the second quarter. ARK Investment Management LLC now owns 2,506,643 shares of the technology company’s stock worth $181,807,000 after acquiring an additional 373,765 shares in the last quarter. Hedge funds and other institutional investors own 52.06% of the company’s stock.

Square Company Profile

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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Earnings History for Square (NYSE:SQ)

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