Brokers Set Expectations for Square, Inc.’s Q2 2020 Earnings (NYSE:SQ)
Square, Inc. (NYSE:SQ) – Stock analysts at Piper Sandler issued their Q2 2020 earnings per share estimates for Square in a report issued on Monday, July 6th. Piper Sandler analyst C. Donat expects that the technology company will earn ($0.13) per share for the quarter. Piper Sandler has a “Neutral” rating and a $131.00 price objective on the stock. Piper Sandler also issued estimates for Square’s Q3 2020 earnings at ($0.08) EPS, Q4 2020 earnings at ($0.02) EPS, FY2020 earnings at ($0.43) EPS, Q1 2021 earnings at ($0.10) EPS, Q2 2021 earnings at $0.14 EPS, Q4 2021 earnings at $0.12 EPS, FY2021 earnings at $0.29 EPS, Q1 2022 earnings at $0.02 EPS, Q2 2022 earnings at $0.28 EPS and FY2022 earnings at $0.82 EPS.
Square (NYSE:SQ) last issued its quarterly earnings results on Wednesday, May 6th. The technology company reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.15). The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.30 billion. Square had a return on equity of 0.44% and a net margin of 5.99%. The business’s quarterly revenue was up 44.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.06) earnings per share.
Shares of NYSE SQ opened at $128.05 on Thursday. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 1.17. The business’s 50 day moving average is $96.35 and its two-hundred day moving average is $74.19. The company has a market cap of $58.59 billion, a P/E ratio of 203.26 and a beta of 2.69. Square has a 12 month low of $32.33 and a 12 month high of $133.81.
In other news, CAO Ajmere Dale sold 6,106 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $90.78, for a total value of $554,302.68. Following the transaction, the chief accounting officer now owns 57,021 shares of the company’s stock, valued at approximately $5,176,366.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline D. Reses sold 24,255 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $63.20, for a total transaction of $1,532,916.00. Following the completion of the transaction, the insider now directly owns 242,100 shares in the company, valued at approximately $15,300,720. The disclosure for this sale can be found here. Insiders sold a total of 48,574 shares of company stock valued at $3,473,975 in the last 90 days. Corporate insiders own 21.79% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Larson Financial Group LLC boosted its stake in Square by 176.1% during the 2nd quarter. Larson Financial Group LLC now owns 1,234 shares of the technology company’s stock worth $129,000 after acquiring an additional 787 shares during the last quarter. Acorn Financial Advisory Services Inc. ADV bought a new position in Square during the 2nd quarter worth approximately $978,000. Joseph P. Lucia & Associates LLC boosted its stake in Square by 340.0% during the 2nd quarter. Joseph P. Lucia & Associates LLC now owns 3,520 shares of the technology company’s stock worth $369,000 after acquiring an additional 2,720 shares during the last quarter. Forte Capital LLC ADV boosted its stake in Square by 13.0% during the 2nd quarter. Forte Capital LLC ADV now owns 82,748 shares of the technology company’s stock worth $8,684,000 after acquiring an additional 9,503 shares during the last quarter. Finally, Sanders Morris Harris LLC bought a new position in Square during the 2nd quarter worth approximately $232,000. 62.71% of the stock is currently owned by institutional investors.
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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