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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 $44.71 in the latest trading session, marking a -1.99% move from the prior day. This change lagged the S&P 500's daily loss of 0.23%. Elsewhere, the Dow lost 0.31%, while the tech-heavy Nasdaq lost 0.09%.
Heading into today, shares of the mobile payments services provider had lost 17.99% over the past month, lagging the Business Services sector's loss of 0.24% and the S&P 500's loss of 1.43% in that time.
Wall Street will be looking for positivity from Block as it approaches its next earnings report date. The company is expected to report EPS of $0.43, up 2.38% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.4 billion, up 19.63% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.69 per share and revenue of $21.47 billion, which would represent changes of +69% and +22.47%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Block. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 2.69% lower within the past month. Block is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Block has a Forward P/E ratio of 27.04 right now. This valuation marks a premium compared to its industry's average Forward P/E of 22.71.
Meanwhile, SQ's PEG ratio is currently 0.9. 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. The Technology Services industry currently had an average PEG ratio of 1.39 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 150, which puts it in the bottom 41% 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.
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) Dips More Than Broader Markets: What You Should Know
Block (SQ - Free Report) closed at $44.71 in the latest trading session, marking a -1.99% move from the prior day. This change lagged the S&P 500's daily loss of 0.23%. Elsewhere, the Dow lost 0.31%, while the tech-heavy Nasdaq lost 0.09%.
Heading into today, shares of the mobile payments services provider had lost 17.99% over the past month, lagging the Business Services sector's loss of 0.24% and the S&P 500's loss of 1.43% in that time.
Wall Street will be looking for positivity from Block as it approaches its next earnings report date. The company is expected to report EPS of $0.43, up 2.38% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.4 billion, up 19.63% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.69 per share and revenue of $21.47 billion, which would represent changes of +69% and +22.47%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Block. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 2.69% lower within the past month. Block is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Block has a Forward P/E ratio of 27.04 right now. This valuation marks a premium compared to its industry's average Forward P/E of 22.71.
Meanwhile, SQ's PEG ratio is currently 0.9. 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. The Technology Services industry currently had an average PEG ratio of 1.39 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 150, which puts it in the bottom 41% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.