FY2024 Earnings Estimate for Block Issued By Seaport Res Ptn

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

Several other brokerages have also commented on SQ. BMO Capital Markets downgraded Block from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $94.00 to $100.00 in a report on Monday, November 25th. Sanford C. Bernstein boosted their target price on shares of Block from $90.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Piper Sandler reissued an “overweight” rating and set a $83.00 price target on shares of Block in a report on Monday, November 11th. BNP Paribas downgraded Block from an “outperform” rating to a “neutral” rating and set a $88.00 target price on the stock. in a research note on Wednesday, November 20th. Finally, Barclays increased their price objective on shares of Block from $100.00 to $112.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have given a buy rating to the company. According to data from MarketBeat, Block currently has an average rating of “Moderate Buy” and a consensus target price of $97.68.

Block Stock Up 0.7 %

NYSE:SQ opened at $87.00 on Friday. The stock has a 50-day simple moving average of $89.61 and a 200 day simple moving average of $74.68. Block has a one year low of $55.00 and a one year high of $99.26. The company has a market capitalization of $53.92 billion, a price-to-earnings ratio of 48.88, a price-to-earnings-growth ratio of 0.75 and a beta of 2.51. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.07 and a current ratio of 2.07.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Key Client Fiduciary Advisors LLC raised its position in Block by 1.4% in the 4th quarter. Key Client Fiduciary Advisors LLC now owns 8,340 shares of the technology company’s stock worth $709,000 after purchasing an additional 115 shares during the last quarter. Whalen Wealth Management Inc. acquired a new position in shares of Block during the fourth quarter valued at $527,000. Mutual Advisors LLC lifted its position in Block by 11.0% during the 4th quarter. Mutual Advisors LLC now owns 5,040 shares of the technology company’s stock valued at $435,000 after purchasing an additional 498 shares during the period. Independent Wealth Network Inc. bought a new position in shares of Block in the 4th quarter valued at about $243,000. Finally, Magnus Financial Group LLC acquired a new stake in Block during the 4th quarter worth $217,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

Insider Transactions at Block

In other Block news, CAO Ajmere Dale sold 1,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $80.00, for a total value of $80,000.00. Following the transaction, the chief accounting officer now owns 88,791 shares of the company’s stock, valued at approximately $7,103,280. The trade was a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amrita Ahuja sold 1,502 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $86.52, for a total value of $129,953.04. Following the sale, the chief financial officer now owns 242,199 shares in the company, valued at $20,955,057.48. The trade was a 0.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,981 shares of company stock valued at $2,681,185. 10.49% of the stock is owned by insiders.

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.