Block (SQ) closed the most recent trading day at $62.86, moving -1.95% from the previous trading session. This change lagged the S&P 500's daily loss of 0.77%. Elsewhere, the Dow lost 0.65%, while the tech-heavy Nasdaq lost 2.23%.
Heading into today, shares of the mobile payments services provider had gained 8.11% over the past month, outpacing the Business Services sector's gain of 2.91% and the S&P 500's gain of 4.66% in that time.
Block will be looking to display strength as it nears its next earnings release. On that day, Block is projected to report earnings of $0.37 per share, which would represent year-over-year growth of 105.56%. Our most recent consensus estimate is calling for quarterly revenue of $5.1 billion, up 15.69% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.71 per share and revenue of $20.59 billion. These totals would mark changes of +71% and +17.43%, respectively, from last year.
Any recent changes to analyst estimates for Block should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, i can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 41.86% lower within the past month. Block is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Block is currently trading at a Forward P/E ratio of 37.55. This valuation marks a premium compared to its industry's average Forward P/E of 23.06.
It is also worth noting that SQ currently has a PEG ratio of 1.88. 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 1.63 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 105, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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