Square (NYSE:SQ) Updates Q3 2019 Earnings Guidance

Square (NYSE:SQ) updated its third quarter 2019 earnings guidance on Thursday. The company provided earnings per share guidance of $0.18-0.20 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.22. The company issued revenue guidance of $590-600 million, compared to the consensus revenue estimate of $598.96 million.Square also updated its FY 2019 guidance to $0.74-0.78 EPS.

Several brokerages have weighed in on SQ. Nomura increased their target price on Square from $90.00 to $100.00 and gave the stock a buy rating in a research report on Friday, June 28th. Raymond James raised Square from an underperform rating to a market perform rating and set a $74.15 target price on the stock in a research report on Tuesday, July 9th. ValuEngine raised Square from a hold rating to a buy rating in a research report on Thursday, June 13th. Sanford C. Bernstein began coverage on Square in a research report on Tuesday, April 16th. They issued a market perform rating and a $80.00 target price on the stock. Finally, Evercore ISI lowered Square from an outperform rating to an underperform rating and dropped their target price for the stock from $101.00 to $64.00 in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty have assigned a buy rating to the company’s stock. Square has an average rating of Buy and a consensus target price of $85.42.

SQ stock traded down $11.38 during trading hours on Friday, hitting $69.60. 43,696,160 shares of the stock traded hands, compared to its average volume of 7,669,453. The firm has a 50-day moving average of $76.34. Square has a one year low of $49.82 and a one year high of $101.15. The firm has a market capitalization 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. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.91.

Square (NYSE:SQ) last announced its earnings results on Thursday, August 1st. The technology company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 business had revenue of $563.00 million during the quarter, compared to analysts’ expectations of $557.67 million. During the same quarter last year, the business posted $0.13 earnings per share. The company’s quarterly revenue was up 46.2% on a year-over-year basis. On average, equities research analysts anticipate that Square will post 0.15 earnings per share for the current year.

In related news, insider Ajmere Dale sold 2,296 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 79,725 shares of the company’s stock, valued at $4,852,063.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alyssa Henry sold 20,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 460,132 shares of the company’s stock, valued at approximately $32,310,469.04. The disclosure for this sale can be found here. Insiders have sold 72,249 shares of company stock valued at $5,144,475 in the last ninety days. Company insiders own 21.79% 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 and Estimates for Square (NYSE:SQ)

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