Square (NYSE:SQ) Releases FY19 Earnings Guidance

Square (NYSE:SQ) issued an update on its FY19 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.74-0.78 for the period, compared to the Thomson Reuters consensus estimate of $0.76. The company issued revenue guidance of $2.25-2.28 billion, compared to the consensus revenue estimate of $2.28 billion.Square also updated its FY 2019 guidance to $0.74-0.78 EPS.

Shares of Square stock traded down $11.38 on Friday, reaching $69.60. 43,696,160 shares of the company’s stock were exchanged, compared to its average volume of 7,669,453. The firm has a market cap of $34.25 billion, a P/E ratio of 3,480.00, a P/E/G ratio of 21.71 and a beta of 3.31. Square has a 52 week low of $49.82 and a 52 week high of $101.15. The business has a 50-day moving average price of $76.34. 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 (NYSE:SQ) last issued its earnings results on Thursday, August 1st. The technology company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.20. Square had a positive return on equity of 2.68% and a negative net margin of 1.35%. The company had revenue of $563.00 million for the quarter, compared to analysts’ expectations of $557.67 million. During the same period last year, the business earned $0.13 EPS. Square’s quarterly revenue was up 46.2% compared to the same quarter last year. Sell-side analysts forecast that Square will post 0.15 earnings per share for the current fiscal year.

SQ has been the topic of a number of recent research reports. Raymond James upgraded Square from an underperform rating to a market perform rating and set a $74.15 target price on the stock in a report on Tuesday, July 9th. Wedbush reiterated a neutral rating on shares of Square in a report on Monday, July 1st. BMO Capital Markets cut their target price on Square to $90.00 and set a market perform rating on the stock in a report on Friday, May 3rd. SunTrust Banks increased their target price on Square to $75.00 and gave the stock a hold rating in a report on Friday. Finally, BTIG Research reiterated a sell rating and issued a $30.00 target price on shares of Square in a report on Sunday. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $85.42.

In other news, insider Ajmere Dale sold 2,296 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $60.86, for a total transaction of $139,734.56. Following the completion of the sale, the insider now directly owns 79,725 shares of the company’s stock, valued at approximately $4,852,063.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Alyssa Henry sold 20,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $70.22, for a total value of $1,404,400.00. Following the sale, the insider now directly owns 460,132 shares of the company’s stock, valued at $32,310,469.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,249 shares of company stock worth $5,144,475. Company insiders own 21.79% 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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Earnings History and Estimates for Square (NYSE:SQ)

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