Why Square Stock Is Down Today
Shares of fintech giant Square (NYSE: SQ) had fallen by more than 4% as of 11:27 a.m. EDT Friday after an analyst at Jefferies said they expect the company to miss earnings estimates in its upcoming quarterly report.
Analysts on average are expecting to hear Square report third-quarter earnings of $0.39 per share on total revenue of $4.57 billion. There is, however, a pretty wide range among the individual predictions, with a low estimate of just $0.02 per share and a high estimate of $0.63 per share.
When companies report earnings below the consensus estimate, their shares often decline in the short term, although post-report price moves are also dependent on lots of other factors including management's guidance and overall outlook.
Source Fool.com
