American Express Company (NYSE:AXP) – Stock analysts at Jefferies Group reduced their FY2017 earnings estimates for American Express in a research report issued on Wednesday. Jefferies Group analyst J. Hecht now forecasts that the payment services company will post earnings per share of $5.85 for the year, down from their previous forecast of $5.86. Jefferies Group has a “Hold” rating and a $93.35 price objective on the stock. Jefferies Group also issued estimates for American Express’ Q4 2017 earnings at $1.54 EPS, Q1 2018 earnings at $1.83 EPS and FY2018 earnings at $7.60 EPS.
A number of other research firms also recently weighed in on AXP. Credit Suisse Group restated an “underperform” rating and issued a $84.00 target price (up from $79.00) on shares of American Express in a report on Thursday, October 19th. ValuEngine downgraded shares of American Express from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Bank of America reiterated a “buy” rating and set a $102.00 price target on shares of American Express in a report on Monday, October 9th. Morgan Stanley boosted their price objective on shares of American Express from $89.00 to $97.00 and gave the company an “equal weight” rating in a research report on Thursday, October 19th. Finally, Wells Fargo & Co reissued an “outperform” rating and issued a $115.00 price objective (up from $105.00) on shares of American Express in a research report on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $98.96.
Shares of American Express (NYSE AXP) opened at $100.97 on Friday. The company has a market cap of $87,640.00, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22. American Express has a one year low of $75.39 and a one year high of $101.65. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 2.31.
American Express (NYSE:AXP) last announced its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.47 by $0.03. The business had revenue of $8.44 billion for the quarter, compared to analysts’ expectations of $8.31 billion. American Express had a net margin of 14.48% and a return on equity of 22.73%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.24 EPS.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 5th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.40 dividend on an annualized basis and a yield of 1.39%. American Express’s dividend payout ratio is currently 27.03%.
In other news, insider James Peter Bush sold 12,789 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $99.45, for a total transaction of $1,271,866.05. Following the completion of the sale, the insider now owns 92,504 shares in the company, valued at approximately $9,199,522.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anre D. Williams sold 30,761 shares of the business’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $93.41, for a total transaction of $2,873,385.01. Following the sale, the insider now owns 28,720 shares of the company’s stock, valued at approximately $2,682,735.20. The disclosure for this sale can be found here. Insiders sold 442,869 shares of company stock valued at $42,823,869 in the last quarter. 0.67% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in AXP. Veritas Asset Management LLP raised its position in American Express by 15.2% in the 2nd quarter. Veritas Asset Management LLP now owns 10,303,201 shares of the payment services company’s stock valued at $867,942,000 after purchasing an additional 1,358,474 shares during the last quarter. Renaissance Technologies LLC acquired a new position in American Express in the 2nd quarter valued at $101,526,000. Canada Pension Plan Investment Board increased its stake in American Express by 944,765.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,077,147 shares of the payment services company’s stock valued at $90,739,000 after buying an additional 1,077,033 shares during the period. Janus Henderson Group PLC increased its stake in American Express by 55.9% in the 3rd quarter. Janus Henderson Group PLC now owns 2,675,599 shares of the payment services company’s stock valued at $242,003,000 after buying an additional 959,824 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in American Express by 11,602.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 901,100 shares of the payment services company’s stock valued at $75,909,000 after buying an additional 893,400 shares during the period. Hedge funds and other institutional investors own 83.35% of the company’s stock.
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American Express Company Profile
American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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