Block (SQ) to Release Earnings on Thursday

Block (NYSE:SQ - Get Free Report) is scheduled to be announcing its earnings results after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of $0.62 per share for the quarter. Investors that wish to register for the company's conference call can do so using this link.

Block (NYSE:SQ - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.01. Block had a return on equity of 0.63% and a net margin of 0.04%. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.69 billion. On average, analysts expect Block to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Block Stock Performance

Shares of NYSE SQ traded down $1.23 during midday trading on Thursday, hitting $72.80. 5,291,296 shares of the company's stock traded hands, compared to its average volume of 9,869,338. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market capitalization of $44.82 billion, a price-to-earnings ratio of 442.41, a price-to-earnings-growth ratio of 2.27 and a beta of 2.55. The firm has a fifty day moving average of $77.21 and a 200 day moving average of $66.90. Block has a 1 year low of $38.85 and a 1 year high of $87.52.

Analysts Set New Price Targets

SQ has been the subject of several analyst reports. BTIG Research upgraded Block from a "neutral" rating to a "buy" rating and set a $85.00 price objective for the company in a research note on Tuesday, January 30th. Truist Financial raised their target price on shares of Block from $90.00 to $100.00 and gave the company a "buy" rating in a report on Friday, February 23rd. Citigroup lifted their target price on Block from $76.00 to $86.00 and gave the stock a "buy" rating in a report on Monday, February 26th. Royal Bank of Canada boosted their target price on Block from $77.00 to $88.00 and gave the company an "outperform" rating in a research report on Friday, February 23rd. Finally, Monness Crespi & Hardt lifted their price objective on shares of Block from $85.00 to $100.00 and gave the company a "buy" rating in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $85.67.

Insider Buying and Selling

In other Block news, CAO Ajmere Dale sold 656 shares of the company's stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $64.30, for a total value of $42,180.80. Following the sale, the chief accounting officer now directly owns 68,823 shares of the company's stock, valued at $4,425,318.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Amrita Ahuja sold 2,581 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $64.30, for a total transaction of $165,958.30. Following the transaction, the chief financial officer now owns 201,754 shares in the company, valued at approximately $12,972,782.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Ajmere Dale sold 656 shares of the company's stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $64.30, for a total value of $42,180.80. Following the completion of the sale, the chief accounting officer now owns 68,823 shares of the company's stock, valued at $4,425,318.90. The disclosure for this sale can be found here. Insiders sold a total of 363,801 shares of company stock valued at $27,284,175 over the last 90 days. Insiders own 10.79% of the company's stock.

About Block

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.