Wall Street brokerages expect American Express (NYSE:AXP) to announce earnings of $2.08 per share for the current quarter, Zacks reports. Eight analysts have made estimates for American Express’ earnings. The highest EPS estimate is $2.21 and the lowest is $1.95. American Express reported earnings of $1.88 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.6%. The business is scheduled to report its next quarterly earnings report on Thursday, October 17th.
According to Zacks, analysts expect that American Express will report full year earnings of $8.13 per share for the current year, with EPS estimates ranging from $8.08 to $8.20. For the next financial year, analysts forecast that the company will post earnings of $8.98 per share, with EPS estimates ranging from $8.60 to $9.19. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover American Express.
American Express (NYSE:AXP) last released its quarterly earnings results on Friday, July 19th. The payment services company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.02. The firm had revenue of $10.84 billion for the quarter, compared to the consensus estimate of $10.82 billion. American Express had a return on equity of 29.75% and a net margin of 16.60%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.84 EPS.
AXP has been the topic of a number of research reports. ValuEngine downgraded American Express from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Oppenheimer set a $119.00 target price on American Express and gave the company a “buy” rating in a research note on Wednesday, April 17th. JPMorgan Chase & Co. lowered their target price on American Express from $135.00 to $132.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Royal Bank of Canada lifted their target price on American Express from $120.00 to $125.00 and gave the company a “sector perform” rating in a research note on Monday, July 22nd. They noted that the move was a valuation call. Finally, William Blair reiterated an “outperform” rating on shares of American Express in a research note on Tuesday, June 18th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $124.49.
NYSE:AXP traded up $2.37 during mid-day trading on Thursday, reaching $126.32. 3,169,391 shares of the stock were exchanged, compared to its average volume of 3,507,544. The company has a 50 day moving average of $125.56. The firm has a market capitalization of $102.84 billion, a PE ratio of 17.23, a P/E/G ratio of 1.42 and a beta of 1.05. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.84 and a quick ratio of 1.84. American Express has a 1 year low of $89.05 and a 1 year high of $129.34.
In other news, CFO Jeffrey C. Campbell sold 6,500 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $122.93, for a total value of $799,045.00. Following the completion of the transaction, the chief financial officer now directly owns 68,379 shares of the company’s stock, valued at $8,405,830.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Stephen J. Squeri sold 101,964 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $119.95, for a total value of $12,230,581.80. Following the completion of the transaction, the chairman now directly owns 258,948 shares of the company’s stock, valued at $31,060,812.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 190,548 shares of company stock valued at $22,910,322. 0.21% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Laurel Wealth Advisors Inc. lifted its stake in shares of American Express by 2.0% in the first quarter. Laurel Wealth Advisors Inc. now owns 4,192 shares of the payment services company’s stock worth $458,000 after acquiring an additional 84 shares in the last quarter. Welch Group LLC grew its holdings in American Express by 2.2% in the 2nd quarter. Welch Group LLC now owns 3,855 shares of the payment services company’s stock worth $476,000 after buying an additional 84 shares in the last quarter. Papp L Roy & Associates grew its holdings in American Express by 1.3% in the 1st quarter. Papp L Roy & Associates now owns 6,750 shares of the payment services company’s stock worth $738,000 after buying an additional 86 shares in the last quarter. Signaturefd LLC boosted its stake in American Express by 2.0% during the 2nd quarter. Signaturefd LLC now owns 4,492 shares of the payment services company’s stock valued at $554,000 after purchasing an additional 88 shares in the last quarter. Finally, Enterprise Financial Services Corp boosted its stake in American Express by 24.8% during the 1st quarter. Enterprise Financial Services Corp now owns 473 shares of the payment services company’s stock valued at $51,000 after purchasing an additional 94 shares in the last quarter. 84.26% of the stock is owned by institutional investors.
American Express Company Profile
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 three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.
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