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Block, Inc. (NYSE:SQ - Get Rating) - Equities researchers at DA Davidson reduced their FY2022 earnings per share estimates for shares of Block in a note issued to investors on Tuesday, August 9th. DA Davidson analyst C. Brendler now expects that the technology company will post earnings per share of ($0.86) for the year, down from their previous forecast of ($0.66). The consensus estimate for Block's current full-year earnings is ($0.72) per share. DA Davidson also issued estimates for Block's FY2023 earnings at ($0.08) EPS.

Block (NYSE:SQ - Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The technology company reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.01. The business had revenue of $4.41 billion during the quarter, compared to analysts' expectations of $4.33 billion. Block had a negative return on equity of 2.52% and a negative net margin of 3.00%. The firm's quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.38 earnings per share.

SQ has been the topic of several other reports. Cowen lowered their price objective on Block from $188.00 to $148.00 in a research report on Friday, May 6th. Oppenheimer reduced their price objective on Block from $150.00 to $112.00 and set an "outperform" rating on the stock in a research note on Monday, July 25th. StockNews.com raised Block to a "sell" rating in a research note on Friday, August 5th. The Goldman Sachs Group dropped their price objective on Block from $152.00 to $134.00 and set a "buy" rating on the stock in a research note on Monday. Finally, Barclays dropped their price objective on Block from $150.00 to $130.00 and set an "overweight" rating on the stock in a research note on Monday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirty-five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $152.34.Block Stock Performance

Shares of SQ opened at $88.84 on Thursday. The company has a quick ratio of 1.97, a current ratio of 1.80 and a debt-to-equity ratio of 0.24. Block has a one year low of $56.01 and a one year high of $281.34. The business has a fifty day moving average of $71.28 and a 200 day moving average of $96.04. Institutional Trading of Block

Several large investors have recently modified their holdings of SQ. Arlington Partners LLC grew its position in shares of Block by 200.0% in the first quarter. Arlington Partners LLC now owns 234 shares of the technology company's stock valued at $32,000 after purchasing an additional 156 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Block during the fourth quarter valued at approximately $36,000. Thompson Siegel & Walmsley LLC purchased a new position in shares of Block during the first quarter valued at approximately $41,000. Verity Asset Management Inc. purchased a new position in shares of Block during the first quarter valued at approximately $53,000. Finally, Global Trust Asset Management LLC lifted its stake in shares of Block by 588.0% during the first quarter. Global Trust Asset Management LLC now owns 516 shares of the technology company's stock valued at $70,000 after buying an additional 441 shares during the period. 54.56% of the stock is currently owned by institutional investors and hedge funds. Insider Buying and Selling

In related news, CFO Amrita Ahuja sold 8,130 shares of the stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $88.13, for a total transaction of $716,496.90. Following the completion of the transaction, the chief financial officer now directly owns 151,829 shares of the company's stock, valued at $13,380,689.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Block news, insider Alyssa Henry sold 30,770 shares of the company's stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $83.38, for a total transaction of $2,565,602.60. Following the transaction, the insider now directly owns 433,543 shares in the company, valued at $36,148,815.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Amrita Ahuja sold 8,130 shares of the company's stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $88.13, for a total transaction of $716,496.90. Following the transaction, the chief financial officer now owns 151,829 shares in the company, valued at $13,380,689.77. The disclosure for this sale can be found here. Insiders sold 330,046 shares of company stock valued at $23,689,489 over the last ninety days. Corporate insiders own 11.52% of the company's stock. About Block (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.Further ReadingGet a free copy of the StockNews.com research report on Block (SQ)3 Stable Growth Stocks for Bumpy TimesLarge And Small Oil-And-Gas Stocks See Post-Earnings BounceThe 2 Dow Stocks with Decade-Long Win Streaks on the LineCould Rite Aid Be an Acquisition Target, Again? The How And Why of Investing in Oil Stocks

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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