Block (NYSE:XYZ) Releases FY 2028 Earnings Guidance

Block (NYSE:XYZ - Get Free Report) issued an update on its FY 2028 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 5.500-5.500 for the period. The company issued revenue guidance of -.

Block Stock Up 7.3%

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Shares of XYZ stock traded up $4.19 during mid-day trading on Wednesday, reaching $61.83. 19,594,563 shares of the company were exchanged, compared to its average volume of 7,157,997. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.18 and a current ratio of 2.18. The business's 50 day simple moving average is $73.63 and its 200 day simple moving average is $70.22. The company has a market capitalization of $37.57 billion, a P/E ratio of 29.26, a P/E/G ratio of 2.97 and a beta of 2.73. Block has a fifty-two week low of $44.27 and a fifty-two week high of $99.26.

Block (NYSE:XYZ - Get Free Report) last issued its quarterly earnings results on Thursday, November 6th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.25 by $0.29. Block had a net margin of 12.99% and a return on equity of 7.41%. The business had revenue of $6.11 billion for the quarter. During the same period in the previous year, the business posted $0.53 EPS. The business's revenue for the quarter was up 2.3% on a year-over-year basis. Research analysts predict that Block will post 2.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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A number of research firms have issued reports on XYZ. Jefferies Financial Group boosted their target price on shares of Block from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Tuesday, October 21st. Wells Fargo & Company upgraded Block to a "strong-buy" rating in a research report on Wednesday, October 22nd. Raymond James Financial reissued an "outperform" rating and issued a $95.00 price objective (up from $79.00) on shares of Block in a report on Friday, August 8th. BNP Paribas cut Block from a "strong-buy" rating to a "hold" rating and set a $86.00 target price on the stock. in a research report on Tuesday, September 2nd. Finally, Compass Point reiterated a "sell" rating and set a $65.00 price target (down previously from $80.00) on shares of Block in a research report on Friday, August 8th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $82.36.

Read Our Latest Research Report on XYZ

Insider Buying and Selling at Block

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In related news, insider Owen Britton Jennings sold 10,424 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $73.20, for a total transaction of $763,036.80. Following the transaction, the insider owned 263,507 shares of the company's stock, valued at approximately $19,288,712.40. This trade represents a 3.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian Grassadonia sold 35,145 shares of the firm's stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $80.00, for a total transaction of $2,811,600.00. Following the transaction, the insider owned 535,896 shares in the company, valued at $42,871,680. This represents a 6.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 115,441 shares of company stock valued at $8,778,247 in the last ninety days. Company insiders own 10.85% of the company's stock.

Hedge Funds Weigh In On Block

Several hedge funds and other institutional investors have recently added to or reduced their stakes in XYZ. Ameriprise Financial Inc. acquired a new position in shares of Block during the second quarter valued at about $535,305,000. Viking Global Investors LP bought a new position in Block during the second quarter valued at about $368,213,000. Northern Trust Corp raised its holdings in Block by 41.8% in the 3rd quarter. Northern Trust Corp now owns 4,626,238 shares of the technology company's stock valued at $334,338,000 after acquiring an additional 1,363,566 shares in the last quarter. Invesco Ltd. lifted its position in shares of Block by 241.4% in the 3rd quarter. Invesco Ltd. now owns 3,778,298 shares of the technology company's stock worth $273,058,000 after acquiring an additional 2,671,713 shares during the period. Finally, SC US Ttgp LTD. acquired a new stake in shares of Block during the 2nd quarter worth approximately $67,304,000. Institutional investors and hedge funds own 70.44% of the company's stock.

Block Company Profile

Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts EMV® chip cards and Near Field Communication payments; Chip card reader, which accepts EMV® chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions.

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