Equities research analysts expect American Express (NYSE:AXP) to post sales of $10.59 billion for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for American Express’ earnings, with the lowest sales estimate coming in at $10.45 billion and the highest estimate coming in at $10.76 billion. American Express posted sales of $8.84 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 19.8%. The business is scheduled to issue its next earnings report on Thursday, January 17th.
According to Zacks, analysts expect that American Express will report full-year sales of $40.45 billion for the current financial year, with estimates ranging from $40.32 billion to $40.62 billion. For the next fiscal year, analysts forecast that the business will post sales of $43.64 billion, with estimates ranging from $43.33 billion to $43.77 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for American Express.
American Express (NYSE:AXP) last released its earnings results on Thursday, October 18th. The payment services company reported $1.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.77 by $0.11. American Express had a return on equity of 31.26% and a net margin of 9.51%. The firm had revenue of $10.14 billion during the quarter, compared to analysts’ expectations of $10.06 billion. During the same period in the previous year, the firm posted $1.50 EPS. American Express’s revenue for the quarter was up 9.2% on a year-over-year basis.
AXP has been the subject of several analyst reports. Stephens raised American Express from an “equal weight” rating to an “overweight” rating and set a $110.50 target price for the company in a research note on Monday, September 17th. Zacks Investment Research cut American Express from a “hold” rating to a “sell” rating in a research report on Thursday, September 20th. Wells Fargo & Co upped their price objective on American Express from $115.00 to $122.00 and gave the stock an “outperform” rating in a research report on Monday, October 1st. Oppenheimer reaffirmed a “buy” rating and set a $114.00 price objective on shares of American Express in a research report on Thursday, October 18th. Finally, Nomura upped their price objective on American Express from $128.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, October 19th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $112.83.
AXP traded down $4.52 on Monday, hitting $101.18. 7,345,493 shares of the company were exchanged, compared to its average volume of 3,621,455. American Express has a twelve month low of $87.54 and a twelve month high of $114.55. The stock has a market capitalization of $90.30 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 1.36 and a beta of 1.06. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.88 and a quick ratio of 1.88.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 8th. Stockholders of record on Friday, January 4th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Thursday, January 3rd. American Express’s payout ratio is currently 26.58%.
In other news, Chairman Stephen J. Squeri sold 12,500 shares of the business’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $103.84, for a total value of $1,298,000.00. Following the completion of the sale, the chairman now directly owns 209,957 shares of the company’s stock, valued at approximately $21,801,934.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the company. Motley Fool Asset Management LLC lifted its holdings in shares of American Express by 16.3% in the 2nd quarter. Motley Fool Asset Management LLC now owns 9,314 shares of the payment services company’s stock valued at $913,000 after purchasing an additional 1,307 shares during the last quarter. BlackRock Inc. raised its stake in American Express by 1.4% during the 2nd quarter. BlackRock Inc. now owns 44,131,020 shares of the payment services company’s stock valued at $4,324,840,000 after acquiring an additional 626,323 shares during the last quarter. Tiedemann Advisors LLC raised its stake in American Express by 55.4% during the 2nd quarter. Tiedemann Advisors LLC now owns 18,749 shares of the payment services company’s stock valued at $1,837,000 after acquiring an additional 6,684 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in American Express by 251.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 136,187 shares of the payment services company’s stock valued at $13,346,000 after acquiring an additional 97,384 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in American Express by 11.1% during the 2nd quarter. Advisors Asset Management Inc. now owns 184,171 shares of the payment services company’s stock valued at $18,049,000 after acquiring an additional 18,351 shares during the last quarter. 82.84% of the stock is owned by institutional investors and hedge funds.
About American Express
American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.
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