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Block (SQ) Dips More Than Broader Markets: What You Should Know
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Block (SQ - Free Report) closed at $64.04 in the latest trading session, marking a -0.81% move from the prior day. This change lagged the S&P 500's daily loss of 0.21%. Elsewhere, the Dow lost 0.42%, while the tech-heavy Nasdaq lost 0.64%.
Coming into today, shares of the mobile payments services provider had lost 14.02% in the past month. In that same time, the Business Services sector gained 4.55%, while the S&P 500 gained 7.71%.
Wall Street will be looking for positivity from Block as it approaches its next earnings report date. This is expected to be May 4, 2023. In that report, analysts expect Block to post earnings of $0.31 per share. This would mark year-over-year growth of 72.22%. Our most recent consensus estimate is calling for quarterly revenue of $4.58 billion, up 15.54% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.63 per share and revenue of $19.76 billion. These totals would mark changes of +63% and +12.73%, respectively, from last year.
Any recent changes to analyst estimates for Block should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 86.36% lower. Block currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Block is holding a Forward P/E ratio of 39.59. For comparison, its industry has an average Forward P/E of 21.12, which means Block is trading at a premium to the group.
It is also worth noting that SQ currently has a PEG ratio of 1.91. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Technology Services stocks are, on average, holding a PEG ratio of 1.87 based on yesterday's closing prices.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 104, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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) Dips More Than Broader Markets: What You Should Know
Block (SQ - Free Report) closed at $64.04 in the latest trading session, marking a -0.81% move from the prior day. This change lagged the S&P 500's daily loss of 0.21%. Elsewhere, the Dow lost 0.42%, while the tech-heavy Nasdaq lost 0.64%.
Coming into today, shares of the mobile payments services provider had lost 14.02% in the past month. In that same time, the Business Services sector gained 4.55%, while the S&P 500 gained 7.71%.
Wall Street will be looking for positivity from Block as it approaches its next earnings report date. This is expected to be May 4, 2023. In that report, analysts expect Block to post earnings of $0.31 per share. This would mark year-over-year growth of 72.22%. Our most recent consensus estimate is calling for quarterly revenue of $4.58 billion, up 15.54% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.63 per share and revenue of $19.76 billion. These totals would mark changes of +63% and +12.73%, respectively, from last year.
Any recent changes to analyst estimates for Block should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 86.36% lower. Block currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Block is holding a Forward P/E ratio of 39.59. For comparison, its industry has an average Forward P/E of 21.12, which means Block is trading at a premium to the group.
It is also worth noting that SQ currently has a PEG ratio of 1.91. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Technology Services stocks are, on average, holding a PEG ratio of 1.87 based on yesterday's closing prices.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 104, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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.