Square (SQ) Updates FY 2018 Earnings Guidance

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Square (NYSE:SQ) issued an update on its FY 2018 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.45-0.46 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.45. The company issued revenue guidance of $1.569-1.574 billion, compared to the consensus revenue estimate of $1.55 billion.Square also updated its Q4 2018 guidance to $0.12-0.13 EPS.

Shares of NYSE:SQ traded up $5.38 on Wednesday, hitting $82.69. The company’s stock had a trading volume of 23,973,597 shares, compared to its average volume of 13,439,539. Square has a 12 month low of $34.14 and a 12 month high of $101.15. The stock has a market cap of $31.91 billion, a price-to-earnings ratio of -826.90 and a beta of 4.30. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.18 and a current ratio of 2.18.

SQ has been the subject of several recent analyst reports. ValuEngine raised Square from a buy rating to a strong-buy rating in a research note on Tuesday, October 2nd. Wolfe Research initiated coverage on Square in a research note on Tuesday, July 17th. They issued a market perform rating for the company. Deutsche Bank increased their price target on Square from $57.00 to $78.00 and gave the stock a buy rating in a research note on Tuesday, July 24th. Stifel Nicolaus increased their price target on Square from $66.00 to $72.00 and gave the stock a buy rating in a research note on Tuesday, July 31st. Finally, Goldman Sachs Group increased their price target on Square from $77.00 to $108.00 and gave the stock a buy rating in a research note on Monday, October 8th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Square currently has a consensus rating of Buy and a consensus target price of $73.36.

In other news, insider Sivan Whiteley sold 1,875 shares of the company’s stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $77.70, for a total transaction of $145,687.50. Following the completion of the sale, the insider now directly owns 121,708 shares of the company’s stock, valued at $9,456,711.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ajmere Dale sold 4,096 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $89.99, for a total value of $368,599.04. Following the sale, the insider now directly owns 93,255 shares of the company’s stock, valued at $8,392,017.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,597,615 shares of company stock valued at $208,057,083. Insiders own 27.99% of the company’s stock.

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About Square

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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