Block (NYSE:XYZ) Issues Quarterly Earnings Results

Block (NYSE:XYZ) issued its earnings results on Thursday. The technology company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.11), Zacks reports. Block had a return on equity of 5.80% and a net margin of 11.92%. The company had revenue of $6.03 billion for the quarter, compared to analyst estimates of $6.23 billion.

Block Stock Down 17.7 %

NYSE:XYZ opened at $68.34 on Friday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.26. The company has a market cap of $42.36 billion, a price-to-earnings ratio of 15.02, a P/E/G ratio of 0.72 and a beta of 2.52. Block has a fifty-two week low of $55.00 and a fifty-two week high of $99.26.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Macquarie upped their target price on shares of Block from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. UBS Group lowered their target price on shares of Block from $98.00 to $97.00 and set a “buy” rating on the stock in a research report on Friday. The Goldman Sachs Group lowered their target price on shares of Block from $109.00 to $94.00 and set a “buy” rating on the stock in a research report on Friday. BNP Paribas lowered shares of Block from an “outperform” rating to a “neutral” rating and set a $88.00 price target on the stock. in a research report on Wednesday, November 20th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of Block in a research report on Friday. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $97.23.

Insiders Place Their Bets

In other Block news, insider Chrysty Esperanza sold 2,865 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $95.00, for a total transaction of $272,175.00. Following the transaction, the insider now owns 85,235 shares of the company’s stock, valued at $8,097,325. This trade represents a 3.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Owen Britton Jennings sold 2,836 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $89.38, for a total transaction of $253,481.68. Following the completion of the transaction, the insider now directly owns 195,449 shares in the company, valued at approximately $17,469,231.62. This represents a 1.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,247 shares of company stock valued at $832,865 over the last quarter. Company insiders own 10.49% 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.