FY2022 Earnings Estimate for Block, Inc. (NYSE:SQ) Issued By Jefferies Financial Group

Block, Inc. (NYSE:SQGet Rating) – Analysts at Jefferies Financial Group boosted their FY2022 earnings estimates for Block in a research note issued to investors on Thursday, November 17th. Jefferies Financial Group analyst T. Williams now forecasts that the technology company will post earnings of ($0.52) per share for the year, up from their previous estimate of ($0.55). Jefferies Financial Group currently has a “Buy” rating and a $85.00 target price on the stock. The consensus estimate for Block’s current full-year earnings is ($0.71) per share. Jefferies Financial Group also issued estimates for Block’s Q4 2022 earnings at ($0.01) EPS, Q1 2023 earnings at $0.02 EPS and Q4 2023 earnings at $0.12 EPS.

Block (NYSE:SQGet Rating) last issued its quarterly earnings data on Thursday, November 3rd. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.16. The company had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.48 billion. Block had a negative net margin of 2.97% and a negative return on equity of 2.10%.

Several other analysts have also commented on SQ. BMO Capital Markets increased their price objective on Block from $117.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, November 7th. Sumitomo Mitsui Financial Group cut Block from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $120.00 to $70.00 in a research note on Wednesday, September 21st. Stephens dropped their price target on Block from $130.00 to $110.00 and set an “overweight” rating on the stock in a research note on Monday, August 8th. Truist Financial decreased their price objective on shares of Block from $115.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, October 13th. Finally, Atlantic Securities dropped their target price on shares of Block from $110.00 to $75.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 12th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and thirty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, Block has an average rating of “Moderate Buy” and an average target price of $115.83.

Block Price Performance

SQ opened at $65.82 on Monday. The firm has a market capitalization of $39.37 billion, a PE ratio of -70.77 and a beta of 2.37. The business’s 50-day moving average is $60.59 and its two-hundred day moving average is $69.71. Block has a 1 year low of $51.34 and a 1 year high of $229.99. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.86 and a quick ratio of 1.86.

Insider Buying and Selling

In related news, CAO Ajmere Dale sold 875 shares of the company’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $54.61, for a total value of $47,783.75. Following the completion of the sale, the chief accounting officer now owns 47,922 shares of the company’s stock, valued at $2,617,020.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Ajmere Dale sold 875 shares of the stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $54.61, for a total value of $47,783.75. Following the completion of the transaction, the chief accounting officer now directly owns 47,922 shares in the company, valued at $2,617,020.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alyssa Henry sold 30,769 shares of the firm’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $72.09, for a total value of $2,218,137.21. Following the sale, the insider now directly owns 428,058 shares of the company’s stock, valued at approximately $30,858,701.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 381,967 shares of company stock worth $23,479,126. 11.52% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Truepoint Inc. purchased a new stake in Block during the 2nd quarter worth approximately $313,000. abrdn plc increased its holdings in Block by 7.9% during the 2nd quarter. abrdn plc now owns 66,003 shares of the technology company’s stock worth $4,069,000 after purchasing an additional 4,808 shares during the period. Glassman Wealth Services raised its position in Block by 42.3% in the 2nd quarter. Glassman Wealth Services now owns 1,264 shares of the technology company’s stock valued at $78,000 after purchasing an additional 376 shares in the last quarter. Johnson Financial Group LLC boosted its stake in shares of Block by 41.6% in the 1st quarter. Johnson Financial Group LLC now owns 40,421 shares of the technology company’s stock valued at $5,481,000 after buying an additional 11,875 shares during the period. Finally, Dakota Wealth Management acquired a new position in shares of Block during the second quarter worth about $238,000. 62.26% of the stock is currently owned by hedge funds and other institutional investors.

Block Company Profile

(Get Rating)

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.

See Also

Earnings History and Estimates for Block (NYSE:SQ)

Receive News & Ratings for Block Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Block and related companies with MarketBeat.com's FREE daily email newsletter.