KeyCorp Analysts Raise Earnings Estimates for Square, Inc. (NYSE:SQ)

Square, Inc. (NYSE:SQ) – Research analysts at KeyCorp boosted their Q1 2020 EPS estimates for shares of Square in a research report issued on Monday, April 29th, Zacks Investment Research reports. KeyCorp analyst J. Beck now expects that the technology company will earn ($0.01) per share for the quarter, up from their previous forecast of ($0.15). KeyCorp has a “Overweight” rating and a $110.00 price objective on the stock. KeyCorp also issued estimates for Square’s Q3 2020 earnings at $0.08 EPS.

Square (NYSE:SQ) last issued its quarterly earnings results on Wednesday, May 1st. The technology company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.09). Square had a negative net margin of 1.47% and a positive return on equity of 1.86%. The firm had revenue of $489.00 million for the quarter, compared to the consensus estimate of $479.63 million. During the same quarter in the prior year, the firm earned $0.06 earnings per share. The company’s revenue was up 59.3% on a year-over-year basis.

Several other equities research analysts have also weighed in on SQ. ValuEngine lowered Square from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Zacks Investment Research upgraded Square from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a research note on Tuesday, May 7th. BMO Capital Markets lowered their price objective on Square to $90.00 and set a “market perform” rating on the stock in a research note on Friday, May 3rd. Wedbush reiterated a “neutral” rating and issued a $75.00 price objective on shares of Square in a research note on Thursday, May 2nd. Finally, SunTrust Banks lowered their price objective on Square to $65.00 and set a “hold” rating on the stock in a research note on Thursday, May 2nd. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. Square currently has a consensus rating of “Hold” and an average target price of $86.14.

SQ traded down $1.09 on Thursday, hitting $65.31. 6,864,500 shares of the stock traded hands, compared to its average volume of 12,199,989. Square has a 52 week low of $49.82 and a 52 week high of $101.15. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $27.62 billion, a price-to-earnings ratio of 3,265.50, a P/E/G ratio of 17.30 and a beta of 3.49.

In other Square news, insider Jacqueline D. Reses sold 5,000 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $68.35, for a total transaction of $341,750.00. Following the transaction, the insider now owns 413,593 shares of the company’s stock, valued at approximately $28,269,081.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Ajmere Dale sold 2,048 shares of the company’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $80.00, for a total value of $163,840.00. Following the transaction, the chief accounting officer now directly owns 79,985 shares in the company, valued at approximately $6,398,800. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 819,641 shares of company stock worth $62,130,073. 21.79% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of SQ. Lenox Wealth Management Inc. acquired a new position in shares of Square in the 1st quarter valued at $25,000. Legacy Advisors LLC acquired a new stake in Square during the 1st quarter worth $27,000. FTB Advisors Inc. acquired a new stake in Square during the 1st quarter worth $27,000. Pearl River Capital LLC acquired a new stake in Square during the 4th quarter worth $28,000. Finally, Johnson Financial Group Inc. acquired a new stake in Square during the 4th quarter worth $28,000. 52.24% of the stock is currently owned by hedge funds and other institutional investors.

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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