Analysts Expect Square, Inc. (NYSE:SQ) Will Post Quarterly Sales of $1.11 Billion

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Wall Street brokerages expect that Square, Inc. (NYSE:SQ) will report sales of $1.11 billion for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Square’s earnings, with estimates ranging from $1.09 billion to $1.14 billion. Square posted sales of $814.94 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 36.2%. The firm is scheduled to report its next quarterly earnings report on Wednesday, August 7th.

On average, analysts expect that Square will report full-year sales of $4.48 billion for the current year, with estimates ranging from $4.41 billion to $4.54 billion. For the next fiscal year, analysts expect that the company will post sales of $5.75 billion, with estimates ranging from $5.55 billion to $6.01 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Square.

Square (NYSE:SQ) last released its quarterly earnings results on Wednesday, May 1st. The technology company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.09). Square had a positive return on equity of 1.86% and a negative net margin of 1.47%. The firm had revenue of $489.00 million for the quarter, compared to the consensus estimate of $479.63 million. During the same quarter in the previous year, the business posted $0.06 EPS. The firm’s revenue for the quarter was up 59.3% compared to the same quarter last year.

Several research analysts have issued reports on SQ shares. Sanford C. Bernstein started coverage on shares of Square in a report on Tuesday, April 2nd. They set a “market perform” rating and a $80.00 price target for the company. Zacks Investment Research raised shares of Square from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research report on Tuesday, May 7th. Canaccord Genuity reaffirmed a “buy” rating and set a $88.00 price objective on shares of Square in a research report on Wednesday, February 27th. Wedbush reaffirmed a “neutral” rating and set a $75.00 price objective on shares of Square in a research report on Thursday, May 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective (down previously from $95.00) on shares of Square in a research report on Thursday, May 2nd. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-one have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $86.14.

Square stock opened at $70.46 on Thursday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.50 and a quick ratio of 1.50. Square has a 52-week low of $49.82 and a 52-week high of $101.15. The company has a market cap of $29.76 billion, a price-to-earnings ratio of 3,523.00, a PEG ratio of 11.39 and a beta of 3.40.

In other Square news, CEO Jack Dorsey sold 103,035 shares of Square stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $75.08, for a total transaction of $7,735,867.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jacqueline D. Reses sold 5,000 shares of Square stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $68.35, for a total transaction of $341,750.00. Following the transaction, the insider now directly owns 413,593 shares in the company, valued at $28,269,081.55. The disclosure for this sale can be found here. In the last three months, insiders sold 405,091 shares of company stock valued at $30,184,255. 21.79% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Jennison Associates LLC raised its stake in shares of Square by 56.6% during the 1st quarter. Jennison Associates LLC now owns 15,136,362 shares of the technology company’s stock worth $1,134,016,000 after purchasing an additional 5,472,640 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of Square by 4,800.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,698,238 shares of the technology company’s stock worth $66,000 after purchasing an additional 3,622,766 shares during the period. Morgan Stanley raised its stake in shares of Square by 36.9% during the 1st quarter. Morgan Stanley now owns 11,544,829 shares of the technology company’s stock worth $864,940,000 after purchasing an additional 3,110,212 shares during the period. Norges Bank bought a new stake in shares of Square during the 4th quarter worth $141,059,000. Finally, Jericho Capital Asset Management L.P. bought a new stake in shares of Square during the 1st quarter worth $122,841,000. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

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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