Wall Street analysts expect American Express (NYSE:AXP) to post earnings per share (EPS) of $2.01 for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for American Express’ earnings. The lowest EPS estimate is $1.93 and the highest is $2.05. American Express reported earnings of $1.74 per share in the same quarter last year, which would indicate a positive year over year growth rate of 15.5%. The firm is expected to report its next earnings report on Friday, October 18th.
On average, analysts expect that American Express will report full-year earnings of $8.13 per share for the current year, with EPS estimates ranging from $8.07 to $8.20. For the next financial year, analysts anticipate that the business will report earnings of $8.99 per share, with EPS estimates ranging from $8.60 to $9.19. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover American Express.
American Express (NYSE:AXP) last announced its earnings results on Friday, October 18th. The payment services company reported $2.08 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $2.08. American Express had a return on equity of 29.75% and a net margin of 16.60%. The business had revenue of $10.99 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same quarter last year, the firm earned $1.88 EPS. American Express’s revenue for the quarter was up 8.3% compared to the same quarter last year.
A number of brokerages recently issued reports on AXP. Morgan Stanley set a $142.00 target price on American Express and gave the company a “buy” rating in a research report on Friday, August 9th. Oppenheimer set a $127.00 price target on American Express and gave the stock a “buy” rating in a research report on Tuesday. Jefferies Financial Group set a $130.00 price target on American Express and gave the stock a “hold” rating in a research report on Friday, July 19th. Wells Fargo & Co boosted their price target on American Express from $135.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 10th. Finally, Royal Bank of Canada boosted their price target on American Express from $120.00 to $125.00 and gave the stock a “sector perform” rating in a research report on Monday, July 22nd. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $124.65.
In other news, insider Paul D. Fabara sold 15,455 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $127.06, for a total value of $1,963,712.30. Following the completion of the sale, the insider now owns 35,931 shares of the company’s stock, valued at $4,565,392.86. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Stephen J. Squeri sold 15,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $118.33, for a total value of $1,774,950.00. Following the completion of the sale, the chief executive officer now directly owns 199,609 shares of the company’s stock, valued at approximately $23,619,732.97. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,500 shares of company stock valued at $4,618,653. Corporate insiders own 0.21% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Deane Retirement Strategies Inc. increased its position in American Express by 4.2% in the third quarter. Deane Retirement Strategies Inc. now owns 23,339 shares of the payment services company’s stock worth $2,761,000 after buying an additional 936 shares during the last quarter. Whittier Trust Co. increased its position in American Express by 6.1% in the third quarter. Whittier Trust Co. now owns 86,649 shares of the payment services company’s stock worth $10,249,000 after buying an additional 5,015 shares during the last quarter. Iowa State Bank purchased a new stake in American Express in the third quarter worth $591,000. Sigma Investment Counselors Inc. increased its position in American Express by 10.5% in the third quarter. Sigma Investment Counselors Inc. now owns 3,819 shares of the payment services company’s stock worth $452,000 after buying an additional 364 shares during the last quarter. Finally, Robecosam AG increased its position in American Express by 2.2% in the third quarter. Robecosam AG now owns 57,142 shares of the payment services company’s stock worth $6,776,000 after buying an additional 1,257 shares during the last quarter. 83.92% of the stock is owned by institutional investors.
Shares of American Express stock opened at $116.76 on Wednesday. The business’s 50 day simple moving average is $117.67 and its 200 day simple moving average is $119.68. American Express has a 52-week low of $89.05 and a 52-week high of $129.34. The firm has a market cap of $96.87 billion, a PE ratio of 15.93, a P/E/G ratio of 1.44 and a beta of 1.06. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.84 and a current ratio of 1.84.
The business also recently announced a 0.39000 dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a dividend yield of 1.3%. American Express’s payout ratio is 23.47%.
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.
Read More: How to calculate compound interest
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.