Block (SQ) Set to Announce Quarterly Earnings on Thursday

Block (NYSE:SQ - Get Free Report) is scheduled to announce its earnings results after the market closes on Thursday, November 7th. Analysts expect the company to announce earnings of $0.88 per share for the quarter. Parties interested in participating in the company's conference call can do so using this link.

Block (NYSE:SQ - Get Free Report) last posted its earnings results on Thursday, August 1st. The technology company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.09. The company had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.27 billion. Block had a return on equity of 3.77% and a net margin of 3.47%. The business's revenue was up 11.2% compared to the same quarter last year. During the same period last year, the company 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 Down 1.1 %

Shares of NYSE SQ traded down $0.80 during mid-day trading on Thursday, reaching $72.49. 2,564,198 shares of the company traded hands, compared to its average volume of 7,919,936. The company's fifty day moving average is $67.70 and its two-hundred day moving average is $66.92. Block has a fifty-two week low of $38.88 and a fifty-two week high of $87.52. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.82 and a current ratio of 1.82. The stock has a market cap of $44.73 billion, a PE ratio of 95.21, a price-to-earnings-growth ratio of 0.99 and a beta of 2.49.

Insider Buying and Selling at Block

In other news, Director Roelof Botha bought 434,405 shares of Block stock in a transaction dated Tuesday, August 6th. The stock was bought at an average cost of $57.55 per share, for a total transaction of $25,000,007.75. Following the purchase, the director now directly owns 434,405 shares in the company, valued at approximately $25,000,007.75. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Roelof Botha bought 434,405 shares of the stock in a transaction dated Tuesday, August 6th. The stock was bought at an average price of $57.55 per share, for a total transaction of $25,000,007.75. Following the completion of the acquisition, the director now directly owns 434,405 shares in the company, valued at approximately $25,000,007.75. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Amrita Ahuja sold 5,935 shares of the company's stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $65.53, for a total transaction of $388,920.55. Following the completion of the sale, the chief financial officer now directly owns 255,496 shares of the company's stock, valued at $16,742,652.88. 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 have sold 25,214 shares of company stock worth $1,637,932. Insiders own 10.49% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on SQ shares. Macquarie reaffirmed an "outperform" rating and set a $100.00 price objective on shares of Block in a report on Friday, July 26th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $88.00 price objective on shares of Block in a report on Monday, October 21st. Keefe, Bruyette & Woods dropped their price objective on Block from $82.00 to $74.00 and set a "market perform" rating for the company in a research note on Monday, July 8th. BMO Capital Markets cut their price target 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. Finally, UBS Group cut their target price on shares of Block from $100.00 to $92.00 and set a "buy" rating for the company in a research note on Tuesday, August 27th. One 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 given a strong buy rating to the company. Based on data from MarketBeat.com, Block presently has an average rating of "Moderate Buy" and a consensus 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.