Square, Inc. (SQ) Expected to Post Quarterly Sales of $860.52 Million

Brokerages forecast that Square, Inc. (NYSE:SQ) will post sales of $860.52 million for the current quarter, Zacks reports. Nine analysts have issued estimates for Square’s earnings, with estimates ranging from $825.60 million to $869.30 million. Square reported sales of $585.16 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 47.1%. The business is scheduled to report its next quarterly earnings results after the market closes on Wednesday, November 7th.

According to Zacks, analysts expect that Square will report full-year sales of $3.23 billion for the current year, with estimates ranging from $3.09 billion to $3.27 billion. For the next financial year, analysts expect that the company will report sales of $4.27 billion, with estimates ranging from $4.11 billion to $4.48 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Square.

Square (NYSE:SQ) last announced its quarterly earnings results on Wednesday, August 1st. The technology company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.14. The company had revenue of $385.00 million during the quarter, compared to analysts’ expectations of $367.99 million. Square had a negative return on equity of 3.18% and a negative net margin of 2.30%. Square’s revenue was up 60.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 EPS.

A number of brokerages have recently commented on SQ. Buckingham Research raised Square from a “neutral” rating to a “buy” rating and upped their price target for the company from $65.00 to $85.00 in a research note on Monday, August 6th. Credit Suisse Group raised Square from a “neutral” rating to an “outperform” rating and upped their price target for the company from $44.00 to $81.00 in a research note on Thursday, July 19th. Oppenheimer cut Square from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 10th. Citigroup upped their price target on Square from $47.00 to $67.00 and gave the company a “neutral” rating in a research note on Thursday, June 28th. Finally, Guggenheim upped their price target on Square from $75.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, August 29th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Square presently has an average rating of “Hold” and a consensus target price of $72.39.

Shares of SQ stock traded up $4.94 on Monday, reaching $73.97. The company had a trading volume of 38,083,201 shares, compared to its average volume of 13,064,450. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.18 and a quick ratio of 2.18. The stock has a market cap of $40.64 billion, a PE ratio of -739.70 and a beta of 4.33. Square has a 12 month low of $31.44 and a 12 month high of $101.15.

In other Square news, CEO Jack Dorsey sold 103,035 shares of the company’s stock in a transaction that occurred on Wednesday, October 10th. The stock was sold at an average price of $80.38, for a total transaction of $8,281,953.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sivan Whiteley sold 1,875 shares of the company’s stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $69.84, for a total value of $130,950.00. Following the transaction, the insider now directly owns 526,299 shares of the company’s stock, valued at approximately $36,756,722.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,888,510 shares of company stock valued at $156,182,876. Insiders own 27.99% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Centaurus Financial Inc. acquired a new stake in shares of Square in the 2nd quarter valued at approximately $100,000. Huntington National Bank boosted its holdings in shares of Square by 1,725.0% in the 2nd quarter. Huntington National Bank now owns 1,825 shares of the technology company’s stock valued at $112,000 after buying an additional 1,725 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Square by 1,476.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,317 shares of the technology company’s stock valued at $114,000 after buying an additional 2,170 shares during the last quarter. Rehmann Capital Advisory Group boosted its holdings in shares of Square by 649.8% in the 2nd quarter. Rehmann Capital Advisory Group now owns 2,317 shares of the technology company’s stock valued at $143,000 after buying an additional 2,008 shares during the last quarter. Finally, Thompson Davis & CO. Inc. boosted its holdings in shares of Square by 736.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 2,510 shares of the technology company’s stock valued at $155,000 after buying an additional 2,210 shares during the last quarter. 51.86% 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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