Square (SQ) Releases Q4 2018 Earnings Guidance

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Square (NYSE:SQ) issued an update on its fourth quarter 2018 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.12-0.13 for the period, compared to the Thomson Reuters consensus estimate of $0.15. The company issued revenue guidance of $446-451 million, compared to the consensus revenue estimate of $440.08 million.Square also updated its FY 2018 guidance to $0.45-0.46 EPS.

Shares of Square stock traded up $5.38 during midday trading on Wednesday, hitting $82.69. The company’s stock had a trading volume of 24,228,300 shares, compared to its average volume of 13,439,539. The stock has a market cap of $31.91 billion, a PE ratio of -826.90 and a beta of 4.30. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.99. Square has a 1-year low of $34.14 and a 1-year high of $101.15.

A number of analysts recently issued reports on the company. Stifel Nicolaus reissued a buy rating and set a $100.00 price objective (up previously from $76.00) on shares of Square in a research report on Wednesday, September 19th. Guggenheim reissued a buy rating and set a $73.00 price objective on shares of Square in a research report on Friday, July 13th. BTIG Research began coverage on Square in a research report on Thursday, October 11th. They set a sell rating for the company. Canaccord Genuity upgraded Square from a hold rating to a buy rating and raised their target price for the company from $60.00 to $90.00 in a report on Friday, October 12th. Finally, Oppenheimer lowered Square from an outperform rating to a market perform rating in a report on Tuesday, July 10th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $73.36.

In related news, insider Alyssa Henry sold 75,000 shares of the business’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $72.42, for a total transaction of $5,431,500.00. Following the transaction, the insider now directly owns 519,544 shares in the company, valued at $37,625,376.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Morgan Jr. Mckelvey sold 400,000 shares of the business’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $71.26, for a total value of $28,504,000.00. Following the transaction, the director now owns 472,175 shares in the company, valued at $33,647,190.50. The disclosure for this sale can be found here. Insiders have sold 2,597,615 shares of company stock worth $208,057,083 over the last 90 days. Corporate insiders own 27.99% of the company’s stock.

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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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Earnings History and Estimates for Square (NYSE:SQ)

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