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

Equities research analysts predict that Square, Inc. (NYSE:SQ) will report sales of $860.52 million for the current quarter, according to Zacks. Nine analysts have made estimates for Square’s earnings, with the highest sales estimate coming in at $869.30 million and the lowest estimate coming in at $825.60 million. Square reported sales of $585.16 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 47.1%. The firm is expected to announce its next earnings report on Wednesday, November 14th.

On average, 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 business will post sales of $4.26 billion per share, with estimates ranging from $4.11 billion to $4.48 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Square.

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

Several research firms have commented on SQ. Stifel Nicolaus raised Square from a “hold” rating to a “buy” rating and boosted their target price for the stock from $46.00 to $55.00 in a report on Thursday, May 3rd. Buckingham Research raised Square from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $65.00 to $85.00 in a report on Monday, August 6th. Credit Suisse Group raised Square from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $44.00 to $81.00 in a report on Thursday, July 19th. Citigroup boosted their target price on Square from $47.00 to $67.00 and gave the stock a “neutral” rating in a report on Thursday, June 28th. Finally, Oppenheimer downgraded Square from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 10th. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $60.04.

Square stock traded up $1.25 during mid-day trading on Friday, hitting $76.44. The company had a trading volume of 6,824,031 shares, compared to its average volume of 10,399,673. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.99. Square has a 12 month low of $24.64 and a 12 month high of $76.31. The company has a market capitalization of $29.92 billion, a price-to-earnings ratio of -764.40 and a beta of 4.13.

In other news, CEO Jack Dorsey sold 103,035 shares of the business’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $73.93, for a total value of $7,617,377.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sivan Whiteley sold 1,875 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now 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. Insiders sold 1,415,225 shares of company stock valued at $94,741,634 in the last 90 days. Company insiders own 27.99% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. increased its position in Square by 145.8% during the first quarter. Oppenheimer & Co. Inc. now owns 64,183 shares of the technology company’s stock valued at $3,158,000 after acquiring an additional 38,069 shares during the last quarter. Boston Family Office LLC purchased a new stake in Square during the second quarter valued at $341,000. Sei Investments Co. increased its position in Square by 131.7% during the first quarter. Sei Investments Co. now owns 187,589 shares of the technology company’s stock valued at $9,229,000 after acquiring an additional 106,642 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in Square by 20.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,347,685 shares of the technology company’s stock valued at $213,906,000 after acquiring an additional 752,364 shares during the last quarter. Finally, RPG Investment Advisory LLC purchased a new stake in Square during the first quarter valued at $424,000. Institutional investors own 50.56% of the company’s stock.

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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