We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
What You Should Know About Block (SQ) Ahead of Q1 Earnings
Read MoreHide Full Article
Block, Inc. (SQ - Free Report) is scheduled to report its first-quarter 2024 results on May 2.
The company has been benefiting from strong Cash App engagement, driven by its robust financial services products like Cash App Card. Its expanding presence in the “buy now, pay later” market, driven by strength across its Pay-in-Four and Single Use Payments offerings, is expected to have continued driving SQ’s top-line growth in the quarter under review.
Strength across the Square ecosystem, on the back of its robust software and banking products and point-of-sale solutions, is likely to have contributed well to Gross Payment Volume (GPV) growth in the to-be-reported quarter.
The Zacks Consensus Estimate for GPV is pegged at $54.9 billion, indicating growth of 7.4% from the year-ago reported figure.
Growing momentum across its transaction-based, subscription and bitcoin businesses is expected to have contributed well.
Integrations across the company’s product lines, which deliver enhanced user experience, are expected to have contributed to seller base growth in the quarter under review.
However, macroeconomic uncertainties and consumer discretionary spending are anticipated to have weighed on the company’s profitability in the first quarter.
For the first quarter of 2024, the Zacks Consensus Estimate for revenues is pegged at $5.73 billion, suggesting growth of 14.8% from the year-ago quarter’s reported figure.
The consensus mark for earnings is pegged at 62 cents per share, indicating a rise of 55% from the year-ago quarter’s reported number. The consensus mark has decreased 1.6% in the past 30 days.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Block currently has an Earnings ESP of -2.24% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings this season.
APi Group is scheduled to release first-quarter 2024 results on May 2. The Zacks Consensus Estimate for APG’s earnings is pegged at 32 cents per share, indicating growth of 28% from the year-ago quarter’s reported figure.
Arista Networks (ANET - Free Report) has an Earnings ESP of +2.49% and a Zacks Rank #1 at present.
ANET is set to report its first-quarter 2024 results on May 7. The Zacks Consensus Estimate for ANET’s earnings is pegged at $1.74 per share, indicating growth of 21.7% from the year-ago quarter’s reported figure.
Cardinal Health (CAH - Free Report) has an Earnings ESP of +1.11% and a Zacks Rank #3 at present.
CAH is scheduled to release third-quarter fiscal 2024 results on May 2. The Zacks Consensus Estimate for CAH’s earnings is pegged at $1.95 per share, indicating growth of 12.1% from the year-ago quarter’s reported figure.
Image: Bigstock
What You Should Know About Block (SQ) Ahead of Q1 Earnings
Block, Inc. (SQ - Free Report) is scheduled to report its first-quarter 2024 results on May 2.
The company has been benefiting from strong Cash App engagement, driven by its robust financial services products like Cash App Card. Its expanding presence in the “buy now, pay later” market, driven by strength across its Pay-in-Four and Single Use Payments offerings, is expected to have continued driving SQ’s top-line growth in the quarter under review.
Strength across the Square ecosystem, on the back of its robust software and banking products and point-of-sale solutions, is likely to have contributed well to Gross Payment Volume (GPV) growth in the to-be-reported quarter.
The Zacks Consensus Estimate for GPV is pegged at $54.9 billion, indicating growth of 7.4% from the year-ago reported figure.
Growing momentum across its transaction-based, subscription and bitcoin businesses is expected to have contributed well.
Integrations across the company’s product lines, which deliver enhanced user experience, are expected to have contributed to seller base growth in the quarter under review.
However, macroeconomic uncertainties and consumer discretionary spending are anticipated to have weighed on the company’s profitability in the first quarter.
Block, Inc. Price and EPS Surprise
Block, Inc. price-eps-surprise | Block, Inc. Quote
Estimates Trend
For the first quarter of 2024, the Zacks Consensus Estimate for revenues is pegged at $5.73 billion, suggesting growth of 14.8% from the year-ago quarter’s reported figure.
The consensus mark for earnings is pegged at 62 cents per share, indicating a rise of 55% from the year-ago quarter’s reported number. The consensus mark has decreased 1.6% in the past 30 days.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Block currently has an Earnings ESP of -2.24% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings this season.
APi Group (APG - Free Report) has an Earnings ESP of +2.06% and a Zacks Rank #2 at present. You can see the complete list of today's Zacks #1 Rank stocks here.
APi Group is scheduled to release first-quarter 2024 results on May 2. The Zacks Consensus Estimate for APG’s earnings is pegged at 32 cents per share, indicating growth of 28% from the year-ago quarter’s reported figure.
Arista Networks (ANET - Free Report) has an Earnings ESP of +2.49% and a Zacks Rank #1 at present.
ANET is set to report its first-quarter 2024 results on May 7. The Zacks Consensus Estimate for ANET’s earnings is pegged at $1.74 per share, indicating growth of 21.7% from the year-ago quarter’s reported figure.
Cardinal Health (CAH - Free Report) has an Earnings ESP of +1.11% and a Zacks Rank #3 at present.
CAH is scheduled to release third-quarter fiscal 2024 results on May 2. The Zacks Consensus Estimate for CAH’s earnings is pegged at $1.95 per share, indicating growth of 12.1% from the year-ago quarter’s reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.