FY2024 Earnings Forecast for Block Issued By Seaport Res Ptn

Block, Inc. (NYSE:SQ) – Seaport Res Ptn raised their FY2024 earnings per share estimates for shares of Block in a research note issued to investors on Tuesday, January 14th. Seaport Res Ptn analyst J. Cantwell now expects that the technology company will post earnings of $1.67 per share for the year, up from their previous forecast 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.

A number of other equities research analysts also recently weighed in on SQ. Wells Fargo & Company lifted their target price on Block from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday. Oppenheimer raised shares of Block from a “market perform” rating to an “outperform” rating and set a $115.00 target price on the stock in a report on Thursday, December 19th. William Blair reiterated an “outperform” rating on shares of Block in a research note on Friday, November 15th. BNP Paribas lowered Block from an “outperform” rating to a “neutral” rating and set a $88.00 price objective on the stock. in a research note on Wednesday, November 20th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $83.00 price objective on shares of Block in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, five have issued 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 Price Performance

NYSE:SQ opened at $87.00 on Friday. Block has a 12-month low of $55.00 and a 12-month high of $99.26. The firm has a market capitalization of $53.92 billion, a price-to-earnings ratio of 48.88, a P/E/G ratio of 0.75 and a beta of 2.51. The stock’s 50 day moving average price is $89.61 and its two-hundred day moving average price is $74.75. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26.

Insider Activity at Block

In other news, insider Chrysty Esperanza sold 2,964 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $80.00, for a total transaction of $237,120.00. Following the transaction, the insider now owns 88,607 shares in the company, valued at approximately $7,088,560. This represents a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Ajmere Dale sold 1,000 shares of Block stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $80.00, for a total transaction of $80,000.00. Following the transaction, the chief accounting officer now owns 88,791 shares of the company’s stock, valued at $7,103,280. This represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,981 shares of company stock worth $2,681,185 in the last 90 days. Corporate insiders own 10.49% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SQ. Swiss National Bank raised its holdings in shares of Block by 0.5% in the 3rd quarter. Swiss National Bank now owns 1,651,886 shares of the technology company’s stock worth $110,891,000 after purchasing an additional 8,200 shares during the period. National Pension Service raised its stake in shares of Block by 13.5% in the third quarter. National Pension Service now owns 1,083,113 shares of the technology company’s stock valued at $72,709,000 after buying an additional 128,832 shares during the period. Baillie Gifford & Co. lifted its position in shares of Block by 1.5% during the 3rd quarter. Baillie Gifford & Co. now owns 10,233,102 shares of the technology company’s stock valued at $686,948,000 after buying an additional 147,873 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake 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 worth $17,037,000 after acquiring an additional 14,822 shares during the period. Finally, Lone Pine Capital LLC increased its holdings 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 acquiring an additional 934,588 shares during the last quarter. Institutional investors own 70.44% of the company’s stock.

Block Company Profile

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.