American Express Company (NYSE:AXP) – Analysts at William Blair upped their FY2018 EPS estimates for American Express in a research report issued to clients and investors on Tuesday. William Blair analyst R. Napoli now anticipates that the payment services company will post earnings per share of $7.25 for the year, up from their prior forecast of $6.55. William Blair also issued estimates for American Express’ FY2019 earnings at $8.00 EPS.
American Express (NYSE:AXP) last released its quarterly earnings data on Thursday, January 18th. The payment services company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.54 by $0.04. American Express had a return on equity of 25.12% and a net margin of 8.08%. The company had revenue of $8.84 billion during the quarter, compared to the consensus estimate of $8.73 billion. During the same period last year, the company earned $0.91 EPS. American Express’s revenue for the quarter was up 10.2% on a year-over-year basis.
Several other research firms also recently commented on AXP. Stephens set a $97.00 price objective on American Express and gave the stock a “hold” rating in a report on Tuesday, January 2nd. JPMorgan Chase & Co. downgraded American Express from an “overweight” rating to a “neutral” rating and set a $90.00 price target for the company. in a research note on Friday, January 12th. Credit Suisse Group restated an “underperform” rating and set a $84.00 price target (up from $79.00) on shares of American Express in a research note on Thursday, October 19th. Zacks Investment Research upgraded American Express from a “hold” rating to a “buy” rating and set a $113.00 price target for the company in a research note on Thursday, January 11th. Finally, Oppenheimer set a $99.00 price target on American Express and gave the company a “buy” rating in a research note on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $100.80.
American Express (AXP) traded down $1.83 during midday trading on Friday, reaching $98.03. The company had a trading volume of 12,292,342 shares, compared to its average volume of 3,170,000. American Express has a 52 week low of $75.39 and a 52 week high of $102.39. The company has a market cap of $85,090.00, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 1.40 and a beta of 1.22. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.90 and a quick ratio of 1.90.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 5th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.43%. American Express’s payout ratio is currently 27.03%.
In related news, CEO Kenneth I. Chenault sold 96,440 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $97.30, for a total value of $9,383,612.00. Following the transaction, the chief executive officer now directly owns 1,178,333 shares of the company’s stock, valued at approximately $114,651,800.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 value of $2,873,385.01. Following the completion of the transaction, the insider now directly owns 28,720 shares in the company, valued at $2,682,735.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 442,869 shares of company stock worth $42,823,869. Insiders own 0.67% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of AXP. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in American Express by 30.4% in the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock worth $109,000 after purchasing an additional 300 shares in the last quarter. Capital Analysts LLC purchased a new position in American Express in the 2nd quarter worth approximately $115,000. Zions Bancorporation increased its stake in American Express by 912.9% in the 3rd quarter. Zions Bancorporation now owns 1,337 shares of the payment services company’s stock worth $121,000 after acquiring an additional 1,205 shares during the last quarter. MV Capital Management Inc. increased its stake in American Express by 3.5% in the 2nd quarter. MV Capital Management Inc. now owns 1,448 shares of the payment services company’s stock worth $122,000 after acquiring an additional 49 shares during the last quarter. Finally, Westside Investment Management Inc. increased its stake in American Express by 0.5% in the 2nd quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock worth $129,000 after acquiring an additional 8 shares during the last quarter. 83.36% of the stock is currently owned by institutional investors.
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About American Express
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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