Block (SQ) Scheduled to Post Quarterly Earnings on Thursday

Block (NYSE:SQ) will be releasing its earnings data after the market closes on Thursday, November 7th. Analysts expect Block to post earnings of $0.88 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Block (NYSE:SQ) last posted its earnings results on Thursday, August 1st. The technology company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.09. The company had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.27 billion. Block had a return on equity of 3.77% and a net margin of 3.47%. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.40 earnings per share. On average, analysts expect Block to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Block Stock Performance

NYSE SQ opened at $73.31 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.82 and a quick ratio of 1.82. Block has a 1-year low of $38.88 and a 1-year high of $87.52. The business has a 50 day simple moving average of $67.70 and a two-hundred day simple moving average of $66.92. The stock has a market capitalization of $45.24 billion, a PE ratio of 95.21, a P/E/G ratio of 0.99 and a beta of 2.49.

Insider Transactions at Block

In related news, CAO Ajmere Dale sold 500 shares of Block stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $61.88, for a total transaction of $30,940.00. Following the transaction, the chief accounting officer now directly owns 92,366 shares of the company’s stock, valued at $5,715,608.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Block news, CAO Ajmere Dale sold 500 shares of Block stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $61.88, for a total value of $30,940.00. Following the transaction, the chief accounting officer now owns 92,366 shares in the company, valued at $5,715,608.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian Grassadonia sold 1,884 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $65.41, for a total transaction of $123,232.44. Following the sale, the insider now directly owns 574,914 shares of the company’s stock, valued at approximately $37,605,124.74. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,214 shares of company stock valued at $1,637,932. Company insiders own 10.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. BMO Capital Markets cut their target price on shares of Block from $93.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday, October 3rd. Needham & Company LLC dropped their price objective on shares of Block from $105.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Macquarie restated an “outperform” rating and set a $100.00 target price on shares of Block in a research report on Friday, July 26th. Wells Fargo & Company dropped their price target on Block from $95.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, Benchmark restated a “buy” rating and set a $99.00 price objective on shares of Block in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $88.79.

About Block

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.