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.
ILLEGAL ACTIVITY NOTICE: This report was first posted by Week Herald and is the property of of Week Herald. If you are reading this report on another domain, it was stolen and republished in violation of international copyright law. The original version of this report can be read at https://weekherald.com/2018/11/07/square-sq-releases-q4-2018-earnings-guidance.html.
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.
Read More: What are the benefits of a balanced fund?
Receive News & Ratings for Square Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Square and related companies with MarketBeat.com's FREE daily email newsletter.