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Block (SQ) Increases Yet Falls Behind Market: What Investors Need to Know
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The most recent trading session ended with Block (SQ - Free Report) standing at $68.27, reflecting a +0.03% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.71%. Elsewhere, the Dow saw an upswing of 1.03%, while the tech-heavy Nasdaq appreciated by 0.6%.
The mobile payments services provider's shares have seen an increase of 11.21% over the last month, surpassing the Business Services sector's gain of 5.54% and the S&P 500's gain of 6.41%.
Market participants will be closely following the financial results of Block in its upcoming release. The company is forecasted to report an EPS of $0.88, showcasing a 60% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.17 billion, up 9.77% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $3.60 per share and a revenue of $24.52 billion, demonstrating changes of +100% and +11.89%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Block. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
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.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.68% decrease. Currently, Block is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, Block currently has a Forward P/E ratio of 18.97. This indicates a discount in contrast to its industry's Forward P/E of 24.25.
We can additionally observe that SQ currently boasts a PEG ratio of 0.43. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Technology Services industry had an average PEG ratio of 1.63.
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 82, placing it within the top 33% of over 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Block (SQ) Increases Yet Falls Behind Market: What Investors Need to Know
The most recent trading session ended with Block (SQ - Free Report) standing at $68.27, reflecting a +0.03% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.71%. Elsewhere, the Dow saw an upswing of 1.03%, while the tech-heavy Nasdaq appreciated by 0.6%.
The mobile payments services provider's shares have seen an increase of 11.21% over the last month, surpassing the Business Services sector's gain of 5.54% and the S&P 500's gain of 6.41%.
Market participants will be closely following the financial results of Block in its upcoming release. The company is forecasted to report an EPS of $0.88, showcasing a 60% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.17 billion, up 9.77% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $3.60 per share and a revenue of $24.52 billion, demonstrating changes of +100% and +11.89%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Block. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
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.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.68% decrease. Currently, Block is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, Block currently has a Forward P/E ratio of 18.97. This indicates a discount in contrast to its industry's Forward P/E of 24.25.
We can additionally observe that SQ currently boasts a PEG ratio of 0.43. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Technology Services industry had an average PEG ratio of 1.63.
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 82, placing it within the top 33% of over 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.