Square, Inc. Expected to Post Q2 2020 Earnings of $0.00 Per Share (NYSE:SQ)

Square, Inc. (NYSE:SQ) – Equities researchers at SunTrust Banks issued their Q2 2020 earnings per share estimates for shares of Square in a note issued to investors on Wednesday, November 6th, Zacks Investment Research reports. SunTrust Banks analyst A. Jeffrey expects that the technology company will post earnings per share of $0.00 for the quarter. SunTrust Banks has a “Buy” rating on the stock.

Square (NYSE:SQ) last announced its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.05. Square had a positive return on equity of 5.72% and a negative net margin of 1.01%. The business had revenue of $602.00 million during the quarter, compared to the consensus estimate of $596.85 million. During the same quarter in the prior year, the company posted $0.13 earnings per share. Square’s revenue was up 39.7% compared to the same quarter last year.

SQ has been the topic of several other research reports. Atlantic Securities began coverage on Square in a research report on Tuesday, September 3rd. They issued an “underweight” rating and a $55.00 price objective on the stock. UBS Group reissued a “buy” rating and issued a $77.00 price objective (down previously from $81.00) on shares of Square in a research report on Friday, November 8th. Berenberg Bank began coverage on Square in a research report on Thursday, October 3rd. They issued a “hold” rating and a $58.00 price objective on the stock. Bank of America set a $70.00 price objective on Square and gave the stock a “hold” rating in a research report on Tuesday, September 24th. Finally, Piper Jaffray Companies cut their price objective on Square from $75.00 to $66.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and sixteen have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $72.25.

SQ stock traded up $0.74 during midday trading on Monday, hitting $67.78. The company’s stock had a trading volume of 3,714,265 shares, compared to its average volume of 9,858,044. The stock’s 50-day moving average price is $64.20 and its 200 day moving average price is $66.58. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. Square has a 1 year low of $49.82 and a 1 year high of $83.20. The stock has a market cap of $29.70 billion, a price-to-earnings ratio of 3,389.00, a PEG ratio of 16.99 and a beta of 3.37.

A number of hedge funds and other institutional investors have recently made changes to their positions in SQ. Enterprise Trust & Investment Co bought a new position in shares of Square during the 2nd quarter valued at about $25,000. Larson Financial Group LLC increased its position in shares of Square by 130.7% during the 2nd quarter. Larson Financial Group LLC now owns 376 shares of the technology company’s stock valued at $27,000 after purchasing an additional 213 shares during the last quarter. Benjamin Edwards Inc. increased its position in shares of Square by 78.4% during the 2nd quarter. Benjamin Edwards Inc. now owns 512 shares of the technology company’s stock valued at $37,000 after purchasing an additional 225 shares during the last quarter. Atlantic Trust LLC increased its position in shares of Square by 38.9% during the 2nd quarter. Atlantic Trust LLC now owns 521 shares of the technology company’s stock valued at $38,000 after purchasing an additional 146 shares during the last quarter. Finally, Assetmark Inc. increased its position in shares of Square by 67.6% during the 2nd quarter. Assetmark Inc. now owns 523 shares of the technology company’s stock valued at $38,000 after purchasing an additional 211 shares during the last quarter. Institutional investors and hedge funds own 57.90% of the company’s stock.

In other Square news, insider Alyssa Henry sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $60.26, for a total value of $1,205,200.00. Following the transaction, the insider now directly owns 442,168 shares in the company, valued at approximately $26,645,043.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jacqueline D. Reses sold 90,455 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $62.28, for a total value of $5,633,537.40. Following the completion of the transaction, the insider now owns 368,157 shares in the company, valued at $22,928,817.96. The disclosure for this sale can be found here. Corporate insiders own 21.79% of the company’s stock.

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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