FY2024 Earnings Estimate for Block Issued By Seaport Res Ptn

Block, Inc. (NYSE:SQ) – Analysts at Seaport Res Ptn boosted their FY2024 EPS estimates for Block in a report released on Tuesday, January 14th. Seaport Res Ptn analyst J. Cantwell now forecasts that the technology company will post earnings of $1.67 per share for the year, up from their previous estimate of $1.66. The consensus estimate for Block’s current full-year earnings is $1.73 per share. Seaport Res Ptn also issued estimates for Block’s Q4 2024 earnings at $0.33 EPS, Q3 2025 earnings at $0.67 EPS, Q4 2025 earnings at $0.85 EPS and FY2025 earnings at $2.62 EPS.

SQ has been the subject of a number of other reports. Macquarie increased their price target on Block from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Monness Crespi & Hardt upgraded Block from a “neutral” rating to a “buy” rating and set a $115.00 target price on the stock in a research note on Friday, December 13th. Citigroup boosted their price target on shares of Block from $90.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday. Piper Sandler restated an “overweight” rating and set a $83.00 price objective on shares of Block in a report on Monday, November 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $88.00 target price on shares of Block in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $97.68.

Block Trading Up 1.9 %

NYSE:SQ opened at $86.38 on Friday. Block has a 52 week low of $55.00 and a 52 week high of $99.26. The firm has a 50-day moving average price of $89.14 and a two-hundred day moving average price of $74.43. The firm has a market cap of $53.54 billion, a price-to-earnings ratio of 48.53, a price-to-earnings-growth ratio of 0.75 and a beta of 2.51. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07.

Insiders Place Their Bets

In related news, insider Chrysty Esperanza sold 2,964 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $80.00, for a total value of $237,120.00. Following the sale, the insider now directly owns 88,607 shares of the company’s stock, valued at $7,088,560. This trade represents a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Amrita Ahuja sold 1,502 shares of Block stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $86.52, for a total transaction of $129,953.04. Following the sale, the chief financial officer now owns 242,199 shares of the company’s stock, valued at approximately $20,955,057.48. The trade was a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,981 shares of company stock worth $2,681,185 in the last three months. 10.49% of the stock is currently owned by corporate insiders.

Institutional Trading of Block

Several institutional investors and hedge funds have recently made changes to their positions in SQ. Swiss National Bank increased its stake in Block by 0.5% in the third quarter. Swiss National Bank now owns 1,651,886 shares of the technology company’s stock valued at $110,891,000 after acquiring an additional 8,200 shares during the last quarter. National Pension Service boosted its holdings in shares of Block by 13.5% in the 3rd quarter. National Pension Service now owns 1,083,113 shares of the technology company’s stock worth $72,709,000 after purchasing an additional 128,832 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in shares of Block by 1.5% in the 3rd quarter. Baillie Gifford & Co. now owns 10,233,102 shares of the technology company’s stock worth $686,948,000 after purchasing an additional 147,873 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Block by 6.2% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 253,787 shares of the technology company’s stock valued at $17,037,000 after buying an additional 14,822 shares in the last quarter. Finally, Lone Pine Capital LLC lifted its position in Block by 13.9% in the 2nd quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company’s stock worth $494,672,000 after buying an additional 934,588 shares during the last quarter. Hedge funds and other institutional investors own 70.44% of the company’s stock.

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.