In the latest trading session, Block closed at $71.79, marking a +0.2% move from the previous day. The stock exceeded the S&P 500, which registered a loss of 0.76% for the day. On the other hand, the Dow registered a loss of 0.75%, and the technology-centric Nasdaq decreased by 1.01%.
The the stock of mobile payments services provider has risen by 8.92% in the past month, leading the Business Services sector's gain of 3.52% and the S&P 500's gain of 4.31%.
The investment community will be paying close attention to the earnings performance of Block in its upcoming release. It is anticipated that the company will report an EPS of $0.88, marking a 60% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $6.17 billion, showing a 9.77% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.60 per share and revenue of $24.52 billion, which would represent changes of +100% and +11.89%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Block. Such recent modifications usually signify the changing landscape 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.68% lower within the past month. Block is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, Block is currently being traded at a Forward P/E ratio of 19.91. This signifies a discount in comparison to the average Forward P/E of 26.69 for its industry.
It is also worth noting that SQ currently has a PEG ratio of 0.45. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Technology Services industry held an average PEG ratio of 1.59.
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 77, finds itself in the top 31% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Block (SQ) Advances While Market Declines: Some Information for Investors
In the latest trading session, Block closed at $71.79, marking a +0.2% move from the previous day. The stock exceeded the S&P 500, which registered a loss of 0.76% for the day. On the other hand, the Dow registered a loss of 0.75%, and the technology-centric Nasdaq decreased by 1.01%.
The the stock of mobile payments services provider has risen by 8.92% in the past month, leading the Business Services sector's gain of 3.52% and the S&P 500's gain of 4.31%.
The investment community will be paying close attention to the earnings performance of Block in its upcoming release. It is anticipated that the company will report an EPS of $0.88, marking a 60% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $6.17 billion, showing a 9.77% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.60 per share and revenue of $24.52 billion, which would represent changes of +100% and +11.89%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Block. Such recent modifications usually signify the changing landscape 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.68% lower within the past month. Block is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, Block is currently being traded at a Forward P/E ratio of 19.91. This signifies a discount in comparison to the average Forward P/E of 26.69 for its industry.
It is also worth noting that SQ currently has a PEG ratio of 0.45. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Technology Services industry held an average PEG ratio of 1.59.
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 77, finds itself in the top 31% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.