What to Expect When Square Reports After the Close

By Chris Lange Updated Jan 11, 3:15PM EST · Published Nov 7, 10:20AM EST

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What to Expect When Square Reports After the Close — © Thinkstock

Square Inc. (NYSE: SQ) is scheduled to release its most recent quarterly results after the markets close on Wednesday. The consensus forecast is $0.11 in earnings per share (EPS) on $413.88 million in revenue. In the third quarter of last year, the payments company reported EPS of $0.07 and $257.12 million in revenue.

Last month it was announced that the chief financial officer, Sarah Friar, is stepping down from this role in order to accept an offer to become the chief executive officer of Nextdoor.

In the meantime, David Viniar, Square’s lead independent director, former CFO of Goldman Sachs and current member of its board of directors, will lead the search for a new CFO. Friar will stay at Square into December to ensure an orderly transition.

Jack Dorsey, CEO of Square, commented:

As Square’s CFO, Sarah steered us through an IPO and helped build a growing ecosystem of businesses that will scale into the future. Sarah leaves us having established a culture of entrepreneurship and discipline across the entire company. She has been an amazing leader, partner, and friend, and we are grateful for all she’s done for Square.

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Excluding Wednesday’s move, Square had vastly outperformed the broad markets, with its stock up 108% in the past 52 weeks. In just 2018 alone, the stock was up 123%.

A few analysts weighed in on Square ahead of the earnings report:

Citigroup has a Buy rating with a $90 price target.
SunTrust Banks has a Buy rating and a $74 price target.
Canaccord Genuity has a Buy rating and a $90 target.
BTIG has a Sell rating.
Credit Suisse has a Buy rating with a $94 price target.
Goldman Sachs has a Buy rating with a $108 target.

Shares of Square were last seen up over 5% at $81.63, with a consensus analyst price target of $82.84. The stock has a 52-week trading range of $34.14 to $101.15.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.