Here come Square earnings...
- Square is scheduled to report its fourth-quarter results after the market's close on Wednesday.
- The Jack Dorsey-led mobile-payments firm issued disappointing quarterly earnings guidance last November.
- On Wednesday, Square shares were trading 23% below last fall's record high.
- Watch Square trade live.
Square, the mobile-payments company, is scheduled to report fourth-quarter earnings after Wednesday's closing bell - months after issuing disappointing quarterly earnings guidance.
Here's what Wall Street expects, according to analysts surveyed by Bloomberg.
- Adjusted earnings per share (EPS): $0.14.
- Revenue: $454.6 million.
Wednesday's report marks the first without the company's longtime CFO, Sarah Friar. Her departure was first announced last October, a development that slammed the stock. Last month, the company named former Activision Blizzard executive Amrita Ahuja as her replacement.
Ahead of the results, James Friedman, an analyst at Susquehanna, told clients Square continues to innovate in the financial-technology space, and reiterated his price target of $77 - about 2% below where shares were trading Wednesday.
Previously, Friedman lowered his rating on Square's stock from "positive" to "neutral" after the company offered weaker-than-expected profit guidance. Still, Friedman is positive in the long-term.
More broadly, Wall Street's sentiment on the Jack Dorsey-led company is split between neutral and optimistic outlooks.
Of the analysts surveyed by Bloomberg, 17 say "buy," 15 say "hold," and just four say "sell."
Square shares surged 190% between the start of 2018 and its all-time high of $101.14 in September. Currently, they're down 23% from their September peak.
Please check back for updates after the stock market's close.
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