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.
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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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