$623.75 Million in Sales Expected for Square, Inc. (SQ) This Quarter

Brokerages expect that Square, Inc. (NYSE:SQ) will announce sales of $623.75 million for the current quarter, according to Zacks. Eight analysts have made estimates for Square’s earnings. The lowest sales estimate is $619.67 million and the highest is $629.21 million. Square reported sales of $461.55 million in the same quarter last year, which indicates a positive year over year growth rate of 35.1%. The company is scheduled to report its next quarterly earnings report after the market closes on Wednesday, May 2nd.

According to Zacks, analysts expect that Square will report full-year sales of $2.89 billion for the current financial year, with estimates ranging from $2.87 billion to $2.92 billion. For the next year, analysts forecast that the business will report sales of $3.69 billion per share, with estimates ranging from $3.54 billion to $3.83 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Square.

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Square (NYSE:SQ) last announced its quarterly earnings data on Tuesday, February 27th. The technology company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Square had a negative net margin of 2.84% and a negative return on equity of 6.60%. The company had revenue of $616.04 million during the quarter, compared to analyst estimates of $601.63 million.



A number of equities analysts recently weighed in on SQ shares. Vetr upgraded shares of Square from a “hold” rating to a “buy” rating and set a $57.03 price objective for the company in a report on Monday, March 19th. Barclays restated a “buy” rating and issued a $43.00 price objective on shares of Square in a report on Friday, January 5th. Buckingham Research started coverage on shares of Square in a report on Thursday, January 4th. They issued a “buy” rating and a $42.00 price objective for the company. Nomura restated a “buy” rating and issued a $64.00 price objective (up from $48.00) on shares of Square in a report on Friday, January 19th. Finally, Credit Suisse Group boosted their price objective on shares of Square from $37.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have issued a buy rating to the company. Square presently has a consensus rating of “Buy” and a consensus price target of $43.85.

In related news, CFO Sarah Friar sold 38,400 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $41.43, for a total value of $1,590,912.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ajmere Dale sold 5,272 shares of the company’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $49.07, for a total transaction of $258,697.04. Following the completion of the transaction, the insider now directly owns 106,533 shares of the company’s stock, valued at approximately $5,227,574.31. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,334,255 shares of company stock valued at $64,240,770. Insiders own 32.68% of the company’s stock.

A number of institutional investors have recently modified their holdings of SQ. Strs Ohio bought a new position in Square in the 4th quarter worth $110,000. Harvest Fund Management Co. Ltd bought a new position in Square in the 4th quarter worth $131,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Square in the 4th quarter worth $139,000. American International Group Inc. bought a new position in Square in the 4th quarter worth $200,000. Finally, Commerce Bank bought a new position in Square in the 4th quarter worth $201,000. 52.42% of the stock is owned by institutional investors.

NYSE SQ traded up $0.83 during mid-day trading on Wednesday, reaching $51.46. The stock had a trading volume of 9,060,314 shares, compared to its average volume of 11,480,099. Square has a 1 year low of $17.32 and a 1 year high of $58.46. The firm has a market cap of $20,067.50, a P/E ratio of -514.60 and a beta of 4.21. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.46.

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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 Europay, MasterCard, and Visa (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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