Square (NYSE:SQ) Issues Q3 2019 Earnings Guidance

Square (NYSE:SQ) updated its third quarter 2019 earnings guidance on Thursday. The company provided EPS guidance of $0.18-0.20 for the period, compared to the Thomson Reuters consensus EPS 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 issued reports on SQ. Wedbush reissued a neutral rating on shares of Square in a research note on Monday, July 1st. Citigroup set a $95.00 target price on Square and gave the stock a buy rating in a research report on Friday, July 19th. 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. Zacks Investment Research raised Square from a hold rating to a buy rating and set a $77.00 target price on the stock in a research report on Tuesday, May 7th. Finally, Argus started coverage on Square in a research report on Monday, July 8th. They set a buy rating and a $94.00 target price on the stock. Three 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 presently has an average rating of Buy and an average price target of $87.40.

NYSE SQ traded down $11.38 on Friday, reaching $69.60. The company had a trading volume of 43,696,160 shares, compared to its average volume of 6,864,466. The stock has a market capitalization of $34.01 billion, a PE ratio of 3,480.00, a P/E/G ratio of 21.55 and a beta of 3.31. The business has a fifty day moving average price of $76.34. Square has a 52-week low of $49.82 and a 52-week high of $101.15. 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 released its quarterly earnings results on Thursday, August 1st. The technology company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.20. The business had revenue of $563.00 million during the quarter, compared to analyst estimates of $557.67 million. Square had a positive return on equity of 1.86% and a negative net margin of 1.47%. Square’s quarterly revenue was up 46.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.13 EPS. Sell-side analysts predict that Square will post 0.15 earnings per share for the current fiscal year.

In other Square news, insider Ajmere Dale sold 4,953 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $80.00, for a total value of $396,240.00. Following the completion of the transaction, the insider now owns 68,079 shares in the company, valued at approximately $5,446,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline D. Reses sold 5,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $73.26, for a total value of $366,300.00. Following the completion of the transaction, the insider now owns 399,914 shares of the company’s stock, valued at approximately $29,297,699.64. 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 three months. 21.79% of the stock is currently owned by insiders.

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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