Analysts Anticipate Square, Inc. (NYSE:SQ) Will Announce Earnings of $0.16 Per Share

Last updated on Thursday, April 29, 2021 | 2021 MarketBeat

Wall Street brokerages predict that Square, Inc. (NYSE:SQ) will announce earnings per share (EPS) of $0.16 for the current fiscal quarter, Zacks reports. Eleven analysts have issued estimates for Square's earnings, with estimates ranging from $0.04 to $0.25. Square reported earnings per share of ($0.02) during the same quarter last year, which would suggest a positive year over year growth rate of 900%. The firm is scheduled to report its next quarterly earnings results after the market closes on Thursday, May 6th.

According to Zacks, analysts expect that Square will report full year earnings of $1.18 per share for the current financial year, with EPS estimates ranging from $0.65 to $1.51. For the next financial year, analysts forecast that the business will report earnings of $1.82 per share, with EPS estimates ranging from $1.11 to $2.61. Zacks' EPS calculations are an average based on a survey of sell-side research analysts that follow Square.

Square (NYSE:SQ) last announced its quarterly earnings results on Tuesday, February 23rd. The technology company reported $0.32 EPS for the quarter, beating the Zacks' consensus estimate of $0.24 by $0.08. The business had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.11 billion. Square had a net margin of 4.05% and a negative return on equity of 0.01%. Square's quarterly revenue was up 139.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.23 EPS.

Several equities analysts recently commented on SQ shares. BMO Capital Markets increased their target price on shares of Square from $229.00 to $237.00 and gave the company a "market perform" rating in a report on Thursday, February 25th. Evercore ISI raised their price objective on Square from $300.00 to $304.00 and gave the stock an "average" rating in a research note on Thursday, January 14th. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $266.00 price objective on shares of Square in a research note on Wednesday, January 27th. Barclays upped their target price on Square from $330.00 to $340.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Morgan Stanley upped their target price on Square from $203.00 to $245.00 and gave the company an "equal weight" rating in a research report on Wednesday, March 3rd. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company's stock. The stock presently has an average rating of "Buy" and a consensus target price of $225.05.

NYSE:SQ opened at $254.20 on Thursday. Square has a 12 month low of $61.09 and a 12 month high of $283.19. The firm has a fifty day simple moving average of $239.00 and a two-hundred day simple moving average of $221.38. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $115.56 billion, a price-to-earnings ratio of 403.50, a PEG ratio of 29.50 and a beta of 2.71.

In related news, CFO Amrita Ahuja sold 6,937 shares of the business's stock in a transaction that occurred on Tuesday, February 2nd. The shares were sold at an average price of $219.88, for a total transaction of $1,525,307.56. Also, CEO Jack Dorsey sold 100,000 shares of the company's stock in a transaction on Monday, April 26th. The stock was sold at an average price of $249.33, for a total transaction of $24,933,000.00. The disclosure for this sale can be found here. Insiders sold a total of 1,262,259 shares of company stock worth $303,037,009 over the last quarter. Corporate insiders own 21.79% of the company's stock.

Institutional investors have recently added to or reduced their stakes in the stock. Phoenix Wealth Advisors raised its holdings in Square by 7.1% in the 1st quarter. Phoenix Wealth Advisors now owns 7,972 shares of the technology company's stock valued at $1,830,000 after buying an additional 531 shares during the period. Moseley Investment Management Inc. increased its position in shares of Square by 53.4% in the fourth quarter. Moseley Investment Management Inc. now owns 6,645 shares of the technology company's stock valued at $1,446,000 after buying an additional 2,314 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Square by 5.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 308,124 shares of the technology company's stock valued at $67,066,000 after acquiring an additional 14,577 shares during the last quarter. Atticus Wealth Management LLC boosted its stake in Square by 68.5% in the 4th quarter. Atticus Wealth Management LLC now owns 1,092 shares of the technology company's stock worth $238,000 after buying an additional 444 shares during the last quarter. Finally, Toronto Dominion Bank raised its holdings in shares of Square by 14.6% during the 4th quarter. Toronto Dominion Bank now owns 69,927 shares of the technology company's stock valued at $15,219,000 after buying an additional 8,885 shares during the period. 64.01% of the stock is currently 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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