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Block (SQ) Stock Dips While Market Gains: Key Facts
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Block (SQ - Free Report) closed the most recent trading day at $66.96, moving -1.75% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.18%. At the same time, the Dow added 0.07%, and the tech-heavy Nasdaq gained 0.1%.
The mobile payments services provider's shares have seen a decrease of 0.47% over the last month, not keeping up with the Business Services sector's gain of 1.6% and the S&P 500's gain of 2.75%.
The investment community will be paying close attention to the earnings performance of Block in its upcoming release. On that day, Block is projected to report earnings of $0.55 per share, which would represent year-over-year growth of 150%. Our most recent consensus estimate is calling for quarterly revenue of $5.65 billion, up 21.54% from the year-ago period.
Investors should also pay attention to any latest changes in analyst estimates for Block. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.12% downward. Block currently has a Zacks Rank of #3 (Hold).
Looking at valuation, Block is presently trading at a Forward P/E ratio of 23.29. Its industry sports an average Forward P/E of 23.29, so one might conclude that Block is trading at no noticeable deviation comparatively.
Meanwhile, SQ's PEG ratio is currently 0.67. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Technology Services industry stood at 1.45 at the close of the market yesterday.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 56, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SQ in the coming trading sessions, be sure to utilize Zacks.com.
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Block (SQ) Stock Dips While Market Gains: Key Facts
Block (SQ - Free Report) closed the most recent trading day at $66.96, moving -1.75% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.18%. At the same time, the Dow added 0.07%, and the tech-heavy Nasdaq gained 0.1%.
The mobile payments services provider's shares have seen a decrease of 0.47% over the last month, not keeping up with the Business Services sector's gain of 1.6% and the S&P 500's gain of 2.75%.
The investment community will be paying close attention to the earnings performance of Block in its upcoming release. On that day, Block is projected to report earnings of $0.55 per share, which would represent year-over-year growth of 150%. Our most recent consensus estimate is calling for quarterly revenue of $5.65 billion, up 21.54% from the year-ago period.
Investors should also pay attention to any latest changes in analyst estimates for Block. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.12% downward. Block currently has a Zacks Rank of #3 (Hold).
Looking at valuation, Block is presently trading at a Forward P/E ratio of 23.29. Its industry sports an average Forward P/E of 23.29, so one might conclude that Block is trading at no noticeable deviation comparatively.
Meanwhile, SQ's PEG ratio is currently 0.67. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Technology Services industry stood at 1.45 at the close of the market yesterday.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 56, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SQ in the coming trading sessions, be sure to utilize Zacks.com.