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.
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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